Benchmark Raises Surgery Partners (NASDAQ:SGRY) Price Target to $72.00

Surgery Partners (NASDAQ:SGRYGet Rating) had its target price lifted by equities researchers at Benchmark from $65.00 to $72.00 in a report released on Wednesday, The Fly reports. Benchmark’s target price suggests a potential upside of 34.71% from the stock’s previous close.

A number of other research analysts have also weighed in on SGRY. SVB Leerink raised their target price on shares of Surgery Partners from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, March 2nd. Zacks Investment Research lowered shares of Surgery Partners from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd. Royal Bank of Canada cut their target price on shares of Surgery Partners from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, March 1st. StockNews.com raised shares of Surgery Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Surgery Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 2nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $60.11.

Shares of Surgery Partners stock traded down $1.46 on Wednesday, hitting $53.45. 4,994 shares of the company traded hands, compared to its average volume of 394,502. The firm has a market cap of $4.81 billion, a PE ratio of -43.24, a P/E/G ratio of 4.48 and a beta of 2.76. The company has a quick ratio of 1.65, a current ratio of 1.76 and a debt-to-equity ratio of 1.46. Surgery Partners has a 52 week low of $37.63 and a 52 week high of $69.58. The company’s 50-day moving average price is $53.67.

Surgery Partners (NASDAQ:SGRYGet Rating) last posted its earnings results on Tuesday, May 3rd. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Surgery Partners had a negative net margin of 3.19% and a negative return on equity of 0.53%. During the same period last year, the firm earned ($0.40) earnings per share. As a group, research analysts anticipate that Surgery Partners will post 0.31 earnings per share for the current year.

In other news, Chairman Wayne S. Deveydt sold 966 shares of Surgery Partners stock in a transaction on Friday, March 11th. The stock was sold at an average price of $55.11, for a total transaction of $53,236.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider George Goodwin sold 25,525 shares of Surgery Partners stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $62.58, for a total value of $1,597,354.50. Following the sale, the insider now owns 57,990 shares of the company’s stock, valued at $3,629,014.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,220 shares of company stock valued at $6,300,372. Corporate insiders own 3.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its holdings in shares of Surgery Partners by 7.7% in the first quarter. Arizona State Retirement System now owns 9,562 shares of the company’s stock valued at $526,000 after acquiring an additional 682 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new stake in shares of Surgery Partners in the first quarter valued at about $246,000. Calamos Advisors LLC bought a new stake in shares of Surgery Partners in the first quarter valued at about $8,100,000. Tranquility Partners LLC raised its holdings in shares of Surgery Partners by 8.3% in the first quarter. Tranquility Partners LLC now owns 43,670 shares of the company’s stock valued at $2,404,000 after acquiring an additional 3,330 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Surgery Partners in the fourth quarter valued at about $5,280,000.

About Surgery Partners (Get Rating)

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company operates through two segments, Surgical Facility Services and Ancillary Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.

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