Surgery Partners, Inc. (NASDAQ:SGRY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Surgery Partners, Inc. (NASDAQ:SGRY) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $36.63.

A number of brokerages have issued reports on SGRY. Macquarie lowered their price objective on Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price objective on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, December 3rd. Finally, Bank of America began coverage on Surgery Partners in a research note on Monday, December 16th. They set a “buy” rating and a $30.00 price objective for the company.

Surgery Partners Price Performance

Shares of SGRY stock opened at $24.21 on Monday. The firm has a market cap of $3.09 billion, a P/E ratio of -50.44, a P/E/G ratio of 19.21 and a beta of 2.73. Surgery Partners has a fifty-two week low of $19.50 and a fifty-two week high of $33.97. The business’s 50 day moving average price is $23.93 and its 200-day moving average price is $25.74. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80.

Surgery Partners (NASDAQ:SGRY) last released 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. The company had revenue of $864.40 million for the quarter, compared to analyst estimates of $828.09 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. On average, equities research analysts anticipate that Surgery Partners will post 0.67 earnings per share for the current year.

Insider Transactions at Surgery Partners

In related news, CFO David T. Doherty sold 6,733 shares of Surgery Partners stock in a transaction on Monday, March 10th. The stock was sold at an average price of $24.02, for a total value of $161,726.66. Following the completion of the sale, the chief financial officer now owns 150,868 shares of the company’s stock, valued at $3,623,849.36. The trade was a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Marissa Brittenham sold 3,156 shares of Surgery Partners stock in a transaction on Monday, March 10th. The stock was sold at an average price of $24.09, for a total value of $76,028.04. Following the completion of the sale, the insider now directly owns 63,408 shares of the company’s stock, valued at $1,527,498.72. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,622 shares of company stock worth $2,717,860 over the last quarter. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Surgery Partners

Several hedge funds have recently bought and sold shares of SGRY. KBC Group NV grew its holdings in Surgery Partners by 66.1% during the fourth quarter. KBC Group NV now owns 3,962 shares of the company’s stock valued at $84,000 after purchasing an additional 1,577 shares during the period. State of Wyoming grew its holdings in Surgery Partners by 94.4% during the fourth quarter. State of Wyoming now owns 4,002 shares of the company’s stock valued at $85,000 after purchasing an additional 1,943 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Surgery Partners by 12.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company’s stock worth $91,000 after acquiring an additional 465 shares during the period. MeadowBrook Investment Advisors LLC boosted its stake in shares of Surgery Partners by 16.6% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company’s stock worth $218,000 after acquiring an additional 1,460 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Surgery Partners by 279.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,762 shares of the company’s stock worth $228,000 after acquiring an additional 7,925 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.