Surgery Partners (NASDAQ:SGRY) Receives “Outperform” Rating from Macquarie

Macquarie reaffirmed their outperform rating on shares of Surgery Partners (NASDAQ:SGRY) in a report released on Monday, Benzinga reports. They currently have a $35.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. KeyCorp started coverage on shares of Surgery Partners in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. UBS Group assumed coverage on Surgery Partners in a research note on Monday, October 14th. They set a “buy” rating and a $38.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $49.00 target price on shares of Surgery Partners in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $43.00 price target on shares of Surgery Partners in a research report on Friday, October 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $50.00 price target on shares of Surgery Partners in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Surgery Partners presently has a consensus rating of “Moderate Buy” and an average target price of $40.13.

Surgery Partners Stock Down 0.8 %

Shares of NASDAQ:SGRY traded down $0.22 during mid-day trading on Monday, hitting $29.00. 16,332 shares of the company traded hands, compared to its average volume of 921,993. The firm’s 50 day simple moving average is $31.20 and its 200 day simple moving average is $28.26. The firm has a market cap of $3.69 billion, a P/E ratio of -108.22, a PEG ratio of 2.23 and a beta of 2.76. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.69 and a current ratio of 1.83. Surgery Partners has a 52-week low of $22.25 and a 52-week high of $36.92.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company 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%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. On average, equities analysts anticipate that Surgery Partners will post 0.84 EPS for the current year.

Institutional Trading of Surgery Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. WCM Investment Management LLC grew its holdings in shares of Surgery Partners by 0.3% during the third quarter. WCM Investment Management LLC now owns 522,084 shares of the company’s stock valued at $16,665,000 after purchasing an additional 1,819 shares during the last quarter. Versor Investments LP acquired a new position in Surgery Partners during the 3rd quarter valued at approximately $271,000. State of New Jersey Common Pension Fund D bought a new position in Surgery Partners during the 3rd quarter worth $1,968,000. Principal Financial Group Inc. acquired a new stake in Surgery Partners in the third quarter worth $1,469,000. Finally, Cannon Global Investment Management LLC increased its position in Surgery Partners by 61.1% in the third quarter. Cannon Global Investment Management LLC now owns 29,000 shares of the company’s stock worth $935,000 after buying an additional 11,000 shares during the period.

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.