Cantor Fitzgerald Reiterates “Overweight” Rating for Surgery Partners (NASDAQ:SGRY)

Cantor Fitzgerald restated their overweight rating on shares of Surgery Partners (NASDAQ:SGRY) in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a $43.00 price target on the stock.

A number of other research analysts have also weighed in on the company. Benchmark restated a buy rating and set a $50.00 price objective on shares of Surgery Partners in a research report on Wednesday, May 1st. Barclays initiated coverage on shares of Surgery Partners in a research report on Wednesday, March 6th. They set an equal weight rating and a $35.00 price objective on the stock. StockNews.com raised Surgery Partners from a sell rating to a hold rating in a research note on Thursday, March 21st. Macquarie assumed coverage on Surgery Partners in a research report on Friday, June 28th. They issued an outperform rating and a $31.00 price objective on the stock. Finally, Citigroup reduced their target price on shares of Surgery Partners from $42.00 to $38.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $41.38.

Surgery Partners Stock Down 0.8 %

SGRY opened at $23.41 on Tuesday. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.79 and a beta of 2.78. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.56 and a current ratio of 1.71. The firm’s fifty day moving average is $25.32 and its 200 day moving average is $28.56. Surgery Partners has a fifty-two week low of $22.05 and a fifty-two week high of $44.88.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Tuesday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Surgery Partners had a return on equity of 3.65% and a net margin of 0.02%. The firm had revenue of $717.40 million during the quarter, compared to analysts’ expectations of $707.66 million. On average, sell-side analysts forecast that Surgery Partners will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Danielle Burkhalter sold 6,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $26.39, for a total transaction of $158,340.00. Following the completion of the sale, the insider now owns 30,354 shares of the company’s stock, valued at $801,042.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Surgery Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SGRY. BNP Paribas Financial Markets boosted its holdings in shares of Surgery Partners by 54.1% in the 4th quarter. BNP Paribas Financial Markets now owns 315,083 shares of the company’s stock valued at $10,080,000 after acquiring an additional 110,664 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Surgery Partners by 23.2% in the third quarter. Wellington Management Group LLP now owns 8,022,700 shares of the company’s stock valued at $234,664,000 after purchasing an additional 1,511,396 shares during the last quarter. Iron Triangle Partners LP acquired a new stake in Surgery Partners during the 4th quarter worth about $33,415,000. Norges Bank purchased a new position in shares of Surgery Partners during the 4th quarter valued at about $25,765,000. Finally, American Century Companies Inc. grew its holdings in Surgery Partners by 5.7% during the third quarter. American Century Companies Inc. now owns 888,171 shares of the company’s stock worth $25,979,000 after acquiring an additional 47,935 shares during the period.

Surgery Partners Company Profile

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.