Surgery Partners, Inc. (NASDAQ:SGRY) Given Average Rating of “Moderate Buy” by Analysts

Surgery Partners, Inc. (NASDAQ:SGRY) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $36.75.

Several research analysts recently weighed in on SGRY shares. Macquarie restated an “outperform” rating and issued a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday, November 19th. Royal Bank of Canada reduced their price target on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Bank of America initiated coverage on shares of Surgery Partners in a research report on Monday, December 16th. They set a “buy” rating and a $30.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd.

Surgery Partners Trading Up 0.7 %

Shares of SGRY opened at $23.97 on Thursday. The business’s 50-day moving average price is $23.21 and its 200-day moving average price is $26.36. Surgery Partners has a twelve month low of $19.50 and a twelve month high of $33.97. The stock has a market cap of $3.05 billion, a PE ratio of -49.94, a P/E/G ratio of 19.21 and a beta of 2.60. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The firm had revenue of $864.40 million for the quarter, compared to analysts’ expectations of $828.09 million. On average, equities analysts forecast that Surgery Partners will post 0.67 EPS for the current fiscal year.

Insider Activity

In other news, insider Harrison R. Bane sold 56,315 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $25.64, for a total transaction of $1,443,916.60. Following the completion of the sale, the insider now owns 107,037 shares of the company’s stock, valued at approximately $2,744,428.68. This represents a 34.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason Eric Evans sold 26,520 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $25.65, for a total value of $680,238.00. Following the completion of the sale, the chief executive officer now directly owns 560,698 shares of the company’s stock, valued at $14,381,903.70. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,733 shares of company stock valued at $2,480,106. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Surgery Partners

Several large investors have recently added to or reduced their stakes in SGRY. Creative Planning bought a new stake in Surgery Partners in the third quarter valued at $258,000. Harbor Capital Advisors Inc. boosted its holdings in Surgery Partners by 16.0% in the third quarter. Harbor Capital Advisors Inc. now owns 53,855 shares of the company’s stock valued at $1,736,000 after acquiring an additional 7,441 shares in the last quarter. Cannon Global Investment Management LLC boosted its holdings in Surgery Partners by 61.1% in the third quarter. Cannon Global Investment Management LLC now owns 29,000 shares of the company’s stock valued at $935,000 after acquiring an additional 11,000 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Surgery Partners in the third quarter valued at $1,469,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in Surgery Partners in the third quarter valued at $1,968,000.

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.