Surgery Partners (NASDAQ:SGRY) Earns “Outperform” Rating from Royal Bank of Canada

Surgery Partners (NASDAQ:SGRY)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They currently have a $35.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 45.71% from the company’s current price.

A number of other research analysts have also weighed in on SGRY. Bank of America started coverage on Surgery Partners in a research report on Monday, December 16th. They set a “buy” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Finally, Macquarie decreased their price target 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Surgery Partners has a consensus rating of “Moderate Buy” and a consensus target price of $36.63.

Surgery Partners Trading Down 0.7 %

Shares of Surgery Partners stock opened at $24.02 on Tuesday. The stock has a market capitalization of $3.07 billion, a PE ratio of -50.04, a P/E/G ratio of 19.21 and a beta of 2.73. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. The company’s fifty day simple moving average is $24.16 and its 200-day simple moving average is $25.64. Surgery Partners has a 1-year low of $19.50 and a 1-year high of $33.97.

Surgery Partners (NASDAQ:SGRY) last issued 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 negative net margin of 2.03% and a positive return on equity of 2.85%. The business had revenue of $864.40 million for the quarter, compared to the consensus estimate of $828.09 million. As a group, equities analysts anticipate that Surgery Partners will post 0.67 earnings per share for the current year.

Insider Buying and Selling

In other Surgery Partners news, insider Harrison R. Bane sold 56,315 shares of Surgery Partners stock in a transaction dated 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. The trade was a 34.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marissa Brittenham sold 3,156 shares of Surgery Partners stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $24.09, for a total value of $76,028.04. Following the sale, the insider now directly owns 63,408 shares of the company’s stock, valued at $1,527,498.72. This trade represents 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 in the last three months. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Surgery Partners by 747.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock worth $124,000 after buying an additional 3,379 shares in the last quarter. KBC Group NV grew its stake in Surgery Partners by 66.1% during the 4th quarter. KBC Group NV now owns 3,962 shares of the company’s stock valued at $84,000 after acquiring an additional 1,577 shares in the last quarter. State of Wyoming increased its holdings in shares of Surgery Partners by 94.4% in 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 last quarter. MeadowBrook Investment Advisors LLC increased its stake in shares of Surgery Partners by 16.6% in the 4th 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 last quarter. Finally, Tower Research Capital LLC TRC increased its position in Surgery Partners by 279.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,762 shares of the company’s stock worth $228,000 after purchasing an additional 7,925 shares during the last quarter.

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.