Surgery Partners, Inc. (NASDAQ:SGRY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Surgery Partners, Inc. (NASDAQ:SGRY) has received an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $43.13.

SGRY has been the subject of a number of analyst reports. Benchmark reiterated a “buy” rating and issued a $50.00 price target on shares of Surgery Partners in a research report on Wednesday, May 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of Surgery Partners in a report on Thursday, February 29th. Barclays started coverage on Surgery Partners in a report on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 target price on the stock. StockNews.com upgraded Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Citigroup cut their price objective on shares of Surgery Partners from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday.

Insider Transactions at Surgery Partners

In related news, insider Bradley R. Owens sold 1,040 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $35.22, for a total transaction of $36,628.80. Following the completion of the transaction, the insider now directly owns 73,149 shares in the company, valued at approximately $2,576,307.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Jason Eric Evans sold 4,840 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $29.71, for a total transaction of $143,796.40. Following the sale, the chief executive officer now owns 459,670 shares of the company’s stock, valued at approximately $13,656,795.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bradley R. Owens sold 1,040 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $35.22, for a total value of $36,628.80. Following the completion of the transaction, the insider now directly owns 73,149 shares of the company’s stock, valued at approximately $2,576,307.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,664 shares of company stock valued at $477,225. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Surgery Partners

Several hedge funds and other institutional investors have recently made changes to their positions in SGRY. DekaBank Deutsche Girozentrale acquired a new stake in Surgery Partners during the 3rd quarter worth approximately $39,000. Strs Ohio bought a new stake in shares of Surgery Partners in the fourth quarter worth $51,000. Signaturefd LLC acquired a new stake in Surgery Partners in the third quarter valued at $56,000. Nisa Investment Advisors LLC raised its position in Surgery Partners by 69.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,945 shares of the company’s stock worth $86,000 after purchasing an additional 1,210 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. lifted its holdings in Surgery Partners by 12.4% during the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 3,388 shares of the company’s stock worth $108,000 after buying an additional 373 shares during the period.

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $27.09 on Friday. The stock has a 50 day simple moving average of $27.30 and a 200 day simple moving average of $29.78. The stock has a market cap of $3.44 billion, a P/E ratio of -270.90, a PEG ratio of 2.24 and a beta of 2.75. Surgery Partners has a 1-year low of $22.05 and a 1-year high of $45.79. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 0.89.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The company had revenue of $735.40 million during the quarter, compared to analysts’ expectations of $741.93 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. Surgery Partners’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that Surgery Partners will post 0.78 earnings per share for the current year.

About Surgery Partners

Surgery Partners, Inc, together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.