Surgery Partners (NASDAQ:SGRY) Earns Outperform Rating from Macquarie

Surgery Partners (NASDAQ:SGRY)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Macquarie in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $34.00 price objective on the stock. Macquarie’s target price suggests a potential upside of 49.45% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. UBS Group began coverage on shares of Surgery Partners in a research report on Monday, October 14th. They set a “buy” rating and a $38.00 target price for the company. Citigroup dropped their price objective on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. KeyCorp began coverage on Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. Cantor Fitzgerald restated 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 reiterated a “buy” rating and set a $50.00 price objective on shares of Surgery Partners in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Surgery Partners currently has an average rating of “Moderate Buy” and a consensus price target of $40.71.

Surgery Partners Price Performance

Shares of SGRY traded up $0.92 during mid-day trading on Tuesday, reaching $22.75. 2,990,209 shares of the stock traded hands, compared to its average volume of 966,580. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -47.40, a price-to-earnings-growth ratio of 16.86 and a beta of 2.76. Surgery Partners has a 1 year low of $21.38 and a 1 year high of $36.92. The firm has a fifty day moving average price of $30.62 and a 200 day moving average price of $28.48. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The business had revenue of $770.40 million for the quarter, compared to analysts’ expectations of $768.99 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Surgery Partners’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Surgery Partners will post 0.83 earnings per share for the current year.

Hedge Funds Weigh In On Surgery Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC boosted its stake in shares of Surgery Partners by 7.8% during the first quarter. ProShare Advisors LLC now owns 13,588 shares of the company’s stock valued at $405,000 after purchasing an additional 986 shares during the period. Vanguard Group Inc. raised its position in Surgery Partners by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 7,479,009 shares of the company’s stock valued at $223,099,000 after purchasing an additional 61,400 shares during the last quarter. EntryPoint Capital LLC lifted its stake in Surgery Partners by 257.1% in the first quarter. EntryPoint Capital LLC now owns 6,399 shares of the company’s stock worth $191,000 after acquiring an additional 4,607 shares during the period. Magnetar Financial LLC boosted its holdings in Surgery Partners by 511.7% in the first quarter. Magnetar Financial LLC now owns 165,466 shares of the company’s stock valued at $4,936,000 after acquiring an additional 138,415 shares in the last quarter. Finally, Bamco Inc. NY increased its position in Surgery Partners by 100.0% during the 1st quarter. Bamco Inc. NY now owns 90,000 shares of the company’s stock valued at $2,685,000 after purchasing an additional 45,000 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.