Analysts Set Surgery Partners, Inc. (NASDAQ:SGRY) Price Target at $40.71

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $38.71.

Several research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a report on Friday, October 4th. Citigroup lowered their price objective on Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada reduced their target price on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday. Benchmark restated a “buy” rating and issued a $50.00 price target on shares of Surgery Partners in a research note on Monday, August 26th. Finally, Macquarie reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday, November 19th.

Institutional Investors Weigh In On Surgery Partners

A number of large investors have recently made changes to their positions in SGRY. Royce & Associates LP boosted its holdings in shares of Surgery Partners by 12.2% in the third quarter. Royce & Associates LP now owns 510,261 shares of the company’s stock worth $16,451,000 after buying an additional 55,545 shares during the last quarter. Bamco Inc. NY raised its position in Surgery Partners by 100.0% in the first quarter. Bamco Inc. NY now owns 90,000 shares of the company’s stock worth $2,685,000 after acquiring an additional 45,000 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Surgery Partners during the 2nd quarter worth $4,163,000. Rhumbline Advisers grew its position in shares of Surgery Partners by 19.6% during the 2nd quarter. Rhumbline Advisers now owns 127,952 shares of the company’s stock valued at $3,044,000 after acquiring an additional 20,963 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Surgery Partners in the 2nd quarter worth $29,288,000.

Surgery Partners Stock Performance

Surgery Partners stock opened at $23.01 on Tuesday. Surgery Partners has a twelve month low of $21.36 and a twelve month high of $36.92. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $2.92 billion, a P/E ratio of -47.94, a PEG ratio of 19.44 and a beta of 2.76. The stock’s 50 day moving average is $29.86 and its 200 day moving average is $28.35.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $770.40 million for the quarter, compared to the consensus estimate of $768.99 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. Surgery Partners’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. On average, equities research analysts predict that Surgery Partners will post 0.73 earnings per share for the current fiscal year.

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.