Surgery Partners’ (SGRY) “Buy” Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Surgery Partners (NASDAQ:SGRY) in a research report released on Wednesday, Benzinga reports. Benchmark currently has a $50.00 price target on the stock.

A number of other equities analysts also recently issued reports on SGRY. Macquarie began coverage on Surgery Partners in a research note on Friday, June 28th. They set an outperform rating and a $31.00 price target for the company. Citigroup cut their target price on Surgery Partners from $38.00 to $36.00 and set a buy rating on the stock in a research note on Wednesday. Cantor Fitzgerald restated an overweight rating and issued a $43.00 target price on shares of Surgery Partners in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $49.00 price objective on shares of Surgery Partners in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $39.86.

Surgery Partners Trading Down 0.8 %

NASDAQ:SGRY traded down $0.24 during trading hours on Wednesday, hitting $29.74. 778,445 shares of the company were exchanged, compared to its average volume of 989,770. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 41.75, a price-to-earnings-growth ratio of 2.25 and a beta of 2.78. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 0.92. Surgery Partners has a one year low of $22.05 and a one year high of $37.83. The company has a fifty day simple moving average of $26.58 and a 200 day simple moving average of $27.93.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. Surgery Partners had a positive return on equity of 3.00% and a negative net margin of 1.17%. The firm had revenue of $762.10 million during the quarter, compared to analyst estimates of $735.94 million. During the same period last year, the company posted $0.25 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. Sell-side analysts expect that Surgery Partners will post 0.88 EPS for the current fiscal year.

Insider Activity

In other news, insider Bradley R. Owens sold 6,000 shares of Surgery Partners stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $27.65, for a total transaction of $165,900.00. Following the completion of the transaction, the insider now directly owns 72,338 shares in the company, valued at $2,000,145.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds have recently added to or reduced their stakes in SGRY. Janus Henderson Group PLC raised its holdings in Surgery Partners by 7,987.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock worth $74,701,000 after acquiring an additional 2,473,282 shares during the last quarter. Iron Triangle Partners LP bought a new stake in Surgery Partners in the 4th quarter worth approximately $33,415,000. Norges Bank bought a new stake in Surgery Partners in the 4th quarter worth approximately $25,765,000. Vanguard Group Inc. grew its position in Surgery Partners by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 7,417,609 shares of the company’s stock worth $237,289,000 after purchasing an additional 698,845 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Surgery Partners by 26.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock worth $66,643,000 after purchasing an additional 589,499 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.