Surgery Partners’ (SGRY) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Surgery Partners (NASDAQ:SGRY) in a research report released on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $35.00 price target on the stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, December 3rd. Bank of America started coverage on shares of Surgery Partners in a research note on Monday, December 16th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Macquarie dropped their price target on Surgery Partners from $34.00 to $33.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.63.

Surgery Partners Stock Performance

Shares of SGRY stock opened at $24.12 on Tuesday. The company’s 50-day simple moving average is $24.24 and its 200-day simple moving average is $25.63. Surgery Partners has a one year low of $19.50 and a one year high of $33.97. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -50.25, a PEG ratio of 19.21 and a beta of 2.73. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data 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 firm had revenue of $864.40 million for the quarter, compared to the consensus estimate of $828.09 million. Equities analysts anticipate that Surgery Partners will post 0.67 earnings per share for the current fiscal year.

Insider Transactions at Surgery Partners

In other news, CFO David T. Doherty sold 6,733 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $24.02, for a total transaction of $161,726.66. Following the transaction, the chief financial officer now owns 150,868 shares of the company’s stock, valued at $3,623,849.36. This represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 completion of the sale, the insider now owns 63,408 shares of the company’s stock, valued at approximately $1,527,498.72. The trade was a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,622 shares of company stock worth $2,717,860. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Surgery Partners

Institutional investors have recently bought and sold shares of the business. Natixis Advisors LLC lifted its stake in shares of Surgery Partners by 3.0% in the 3rd quarter. Natixis Advisors LLC now owns 12,828 shares of the company’s stock valued at $414,000 after purchasing an additional 376 shares during the period. Pathstone Holdings LLC lifted its stake in Surgery Partners by 30.9% in the third quarter. Pathstone Holdings LLC now owns 57,347 shares of the company’s stock valued at $1,849,000 after buying an additional 13,534 shares during the period. Intech Investment Management LLC bought a new position in Surgery Partners during the third quarter worth about $627,000. Charles Schwab Investment Management Inc. boosted its holdings in Surgery Partners by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 772,746 shares of the company’s stock worth $24,913,000 after buying an additional 38,810 shares during the last quarter. Finally, FMR LLC grew its position in shares of Surgery Partners by 3.1% during the 3rd quarter. FMR LLC now owns 18,311,867 shares of the company’s stock worth $590,375,000 after buying an additional 546,869 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.