Surgery Partners’ (SGRY) “Outperform” Rating Reiterated at Royal Bank Of Canada

Surgery Partners (NASDAQ:SGRY)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $19.00 price target on the stock. Royal Bank Of Canada’s price target points to a potential upside of 41.54% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Benchmark reissued a “buy” rating on shares of Surgery Partners in a report on Tuesday, August 11th. TD Cowen reissued a “buy” rating and set a $19.00 price target on shares of Surgery Partners in a report on Friday, September 18th. JPMorgan Chase & Co. boosted their price target on shares of Surgery Partners from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, September 14th. Raymond James Financial set a $18.00 price target on shares of Surgery Partners in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Surgery Partners in a report on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Surgery Partners Price Performance

NASDAQ SGRY traded up $0.10 during trading hours on Wednesday, reaching $13.42. The company’s stock had a trading volume of 281,864 shares, compared to its average volume of 1,730,334. The stock has a market cap of $1.76 billion, a PE ratio of -19.19, a PEG ratio of 4.12 and a beta of 1.90. Surgery Partners has a fifty-two week low of $11.41 and a fifty-two week high of $23.44. The company’s 50-day moving average is $14.50 and its two-hundred day moving average is $14.31. 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 (NASDAQ:SGRY) last released its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The company had revenue of $848.90 million for the quarter, compared to analysts’ expectations of $830.03 million. During the same period last year, the company earned $0.17 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts forecast that Surgery Partners will post 0.25 EPS for the current year.

Insider Buying and Selling

In other Surgery Partners news, Director Teresa DeLuca purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the director owned 66,843 shares in the company, valued at $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc acquired a new stake in Surgery Partners during the 2nd quarter worth about $1,205,000. Penn Capital Management Company LLC acquired a new stake in Surgery Partners during the 2nd quarter worth about $2,941,000. Corient Private Wealth LP acquired a new stake in Surgery Partners during the 2nd quarter worth about $1,211,000. Hsbc Holdings PLC raised its holdings in Surgery Partners by 54.5% during the 2nd quarter. Hsbc Holdings PLC now owns 2,958,912 shares of the company’s stock worth $48,912,000 after buying an additional 1,043,244 shares during the period. Finally, Varde Management L.P. raised its holdings in Surgery Partners by 32.8% during the 2nd quarter. Varde Management L.P. now owns 1,003,447 shares of the company’s stock worth $16,858,000 after buying an additional 248,009 shares during the period.

Surgery Partners Company Profile

Surgery Partners, Inc (NASDAQ:SGRY) is a healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals in partnership with physicians and health systems. Its facilities provide scheduled surgical care in outpatient and inpatient settings, with an emphasis on procedures that generally do not require extended hospital stays.

The company supports a range of specialties, including orthopedics, pain management, ophthalmology, gastroenterology, gynecology, and general surgery.