Surgery Partners (NASDAQ:SGRY) Coverage Initiated at UBS Group

UBS Group initiated coverage on shares of Surgery Partners (NASDAQ:SGRY) in a research report report published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $38.00 price objective on the stock.

A number of other research firms have also recently commented on SGRY. Royal Bank of Canada reissued an “outperform” rating and issued a $49.00 price target on shares of Surgery Partners in a research note on Wednesday, August 7th. Citigroup cut their price target on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. KeyCorp began coverage on shares of Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Macquarie began coverage on shares of Surgery Partners in a research note on Friday, June 28th. They issued an “outperform” rating and a $31.00 price target for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Surgery Partners in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.63.

Surgery Partners Stock Performance

Surgery Partners stock opened at $33.03 on Monday. The firm’s 50 day simple moving average is $31.04 and its 200 day simple moving average is $27.91. The company has a current ratio of 1.83, a quick ratio of 1.69 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $4.20 billion, a PE ratio of -122.33, a price-to-earnings-growth ratio of 2.47 and a beta of 2.75. Surgery Partners has a 1-year low of $22.05 and a 1-year high of $36.92.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $762.10 million for the quarter, compared to analyst estimates of $735.94 million. Surgery Partners had a negative net margin of 1.17% and a positive return on equity of 2.96%. Surgery Partners’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, analysts expect that Surgery Partners will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surgery Partners

Institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its position in Surgery Partners by 7,987.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock valued at $74,701,000 after buying an additional 2,473,282 shares during the period. Deerfield Management Company L.P. Series C boosted its position in Surgery Partners by 47.7% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock valued at $111,986,000 after buying an additional 1,520,484 shares during the period. Point72 Asset Management L.P. purchased a new stake in Surgery Partners during the 2nd quarter valued at $29,288,000. Vanguard Group Inc. boosted its position in Surgery Partners by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 7,417,609 shares of the company’s stock valued at $237,289,000 after buying an additional 698,845 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Surgery Partners by 26.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock valued at $66,643,000 after buying 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.