Surgery Partners (NASDAQ:SGRY) Stock Rating Reaffirmed as “Outperform” by Royal Bank Of Canada

Surgery Partners (NASDAQ:SGRY)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank Of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $19.00 price target on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 32.54% from the company’s previous close.

Several other research analysts have also weighed in on the company. TD Cowen reissued a “buy” rating and issued a $19.00 price objective on shares of Surgery Partners in a research report on Friday, September 18th. JPMorgan Chase & Co. raised their target price on Surgery Partners from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, September 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a report on Friday, August 21st. Raymond James Financial set a $18.00 price target on Surgery Partners in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $18.00 price objective on shares of Surgery Partners in a research report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Surgery Partners Stock Down 0.5%

Shares of NASDAQ SGRY opened at $14.34 on Wednesday. The company’s 50 day moving average price is $14.61 and its 200-day moving average price is $14.29. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95. Surgery Partners has a 52-week low of $11.41 and a 52-week high of $23.44. The company has a market capitalization of $1.88 billion, a P/E ratio of -20.22, a price-to-earnings-growth ratio of 4.55 and a beta of 1.92.

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

Insiders Place Their Bets

In related news, Director Teresa DeLuca bought 10,000 shares of Surgery Partners stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average cost of $14.35 per share, with a total value of $143,500.00. Following the transaction, the director directly owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

A number of institutional investors and hedge funds have recently made changes to their positions in SGRY. Jupiter Topco LLC purchased a new stake in shares of Surgery Partners in the 2nd quarter valued at about $233,220,000. Pentwater Capital Management LP purchased a new stake in Surgery Partners in the second quarter valued at approximately $195,384,000. BlackRock Inc. purchased a new stake in Surgery Partners in the second quarter valued at approximately $104,857,000. Dimensional Fund Advisors LP lifted its position in Surgery Partners by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company’s stock valued at $63,131,000 after purchasing an additional 389,831 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Surgery Partners in the 2nd quarter worth approximately $48,912,000.

Surgery Partners Company Profile

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.