Surgery Partners (NASDAQ:SGRY) Earns “Outperform” Rating from Royal Bank Of Canada

Surgery Partners (NASDAQ:SGRY)‘s stock had its “outperform” rating restated by analysts at Royal Bank Of Canada in a report released on Wednesday, Benzinga reports. They currently have a $19.00 price objective on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 33.05% from the company’s current price.

Other research analysts also recently issued research reports about the company. Zacks Research downgraded Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Raymond James Financial set a $18.00 price objective on Surgery Partners in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Surgery Partners in a research report on Friday, August 21st. Benchmark reissued a “buy” rating on shares of Surgery Partners in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Surgery Partners from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, September 14th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Surgery Partners currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Surgery Partners Stock Down 0.9%

Shares of SGRY stock traded down $0.13 on Wednesday, reaching $14.28. 377,745 shares of the company’s stock traded hands, compared to its average volume of 1,732,070. Surgery Partners has a 12-month low of $11.41 and a 12-month high of $23.44. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95. The company has a market capitalization of $1.87 billion, a P/E ratio of -20.40, a price-to-earnings-growth ratio of 4.55 and a beta of 1.92. The business’s 50 day moving average price is $14.61 and its two-hundred day moving average price is $14.29.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The business had revenue of $848.90 million for the quarter, compared to the consensus estimate of $830.03 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. Surgery Partners’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Surgery Partners will post 0.25 earnings per share for the current year.

Insider Transactions at Surgery Partners

In related news, Director Teresa DeLuca purchased 10,000 shares of Surgery Partners stock in a transaction on Tuesday, August 18th. The stock was bought at an average price of $14.35 per share, with a total value of $143,500.00. Following the completion of the transaction, the director directly owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. This represents a 17.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Institutional Trading of Surgery Partners

A number of institutional investors and hedge funds have recently made changes to their positions in SGRY. Jupiter Topco LLC acquired a new stake in shares of Surgery Partners in the second quarter worth about $233,220,000. Pentwater Capital Management LP acquired a new stake in shares of Surgery Partners in the second quarter worth about $195,384,000. BlackRock Inc. acquired a new stake in shares of Surgery Partners in the second quarter worth about $104,857,000. Hsbc Holdings PLC acquired a new stake in shares of Surgery Partners in the second quarter worth about $48,912,000. Finally, Bank of America Corp DE acquired a new stake in shares of Surgery Partners in the second quarter worth about $20,374,000.

About Surgery Partners

Surgery Partners, Inc (NASDAQ: SGRY) is a healthcare services company that owns and operates a network of ambulatory surgery centers and surgical hospitals in the United States. The company works with physicians and health systems to provide outpatient and same-day surgical care in settings outside traditional hospital facilities.

Its services cover a range of specialties, including orthopedics, pain management, gastroenterology, ophthalmology, gynecology, urology and other procedural areas.