Analysts Set Surgery Partners, Inc. (NASDAQ:SGRY) PT at $36.63

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $36.63.

A number of research analysts have commented on SGRY shares. JPMorgan Chase & Co. reduced their target price on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, December 3rd. Bank of America began coverage on Surgery Partners in a research note on Monday, December 16th. They set a “buy” rating and a $30.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Surgery Partners in a report on Tuesday, March 25th. Finally, Macquarie cut their target price on shares of Surgery Partners from $34.00 to $33.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th.

Surgery Partners Stock Performance

Shares of SGRY opened at $23.95 on Monday. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -49.90, a PEG ratio of 19.21 and a beta of 2.73. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $24.31 and its two-hundred day moving average is $25.52. Surgery Partners has a 52-week low of $19.50 and a 52-week high of $33.97.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, March 3rd. The company reported $0.39 earnings per share (EPS) 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 analysts’ expectations of $828.09 million. Analysts forecast that Surgery Partners will post 0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jason Eric Evans sold 26,520 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $25.65, for a total transaction of $680,238.00. Following the completion of the transaction, the chief executive officer now directly owns 560,698 shares in the company, valued at approximately $14,381,903.70. The trade was a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David T. Doherty sold 6,733 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $24.02, for a total value of $161,726.66. Following the completion of the transaction, the chief financial officer now directly owns 150,868 shares of the company’s stock, valued at $3,623,849.36. This trade represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,622 shares of company stock worth $2,717,860. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. increased its stake in Surgery Partners by 747.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock valued at $124,000 after buying an additional 3,379 shares during the period. KBC Group NV boosted its holdings in shares of Surgery Partners by 66.1% in the fourth quarter. KBC Group NV now owns 3,962 shares of the company’s stock valued at $84,000 after acquiring an additional 1,577 shares in the last quarter. State of Wyoming increased its stake in shares of Surgery Partners by 94.4% during the fourth quarter. State of Wyoming now owns 4,002 shares of the company’s stock valued at $85,000 after acquiring an additional 1,943 shares during the period. MeadowBrook Investment Advisors LLC raised its holdings in Surgery Partners by 16.6% during the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company’s stock worth $218,000 after purchasing an additional 1,460 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Surgery Partners by 279.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,762 shares of the company’s stock worth $228,000 after purchasing an additional 7,925 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.