Cantor Fitzgerald Reaffirms “Overweight” Rating for Surgery Partners (NASDAQ:SGRY)

Cantor Fitzgerald reiterated their overweight rating on shares of Surgery Partners (NASDAQ:SGRY) in a report issued on Thursday morning, Benzinga reports. The firm currently has a $43.00 target price on the stock.

Several other brokerages have also issued reports on SGRY. Barclays cut their target price on shares of Surgery Partners from $56.00 to $51.00 and set an overweight rating on the stock in a research note on Wednesday, August 2nd. Bank of America raised shares of Surgery Partners from a neutral rating to a buy rating and increased their target price for the stock from $42.00 to $45.00 in a research note on Friday, June 2nd. StockNews.com started coverage on shares of Surgery Partners in a research note on Thursday, August 17th. They set a hold rating on the stock. Mizuho increased their target price on shares of Surgery Partners from $48.00 to $50.00 in a research note on Tuesday, July 11th. Finally, Benchmark reissued a buy rating and set a $50.00 target price on shares of Surgery Partners in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Surgery Partners currently has a consensus rating of Moderate Buy and an average target price of $44.09.

Surgery Partners Trading Down 3.0 %

Shares of NASDAQ SGRY opened at $31.21 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.61 and a current ratio of 1.77. Surgery Partners has a 52-week low of $20.46 and a 52-week high of $45.79. The firm has a 50 day moving average price of $36.66 and a two-hundred day moving average price of $36.82. The stock has a market cap of $3.95 billion, a P/E ratio of -55.73 and a beta of 2.73.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.22. Surgery Partners had a negative net margin of 2.04% and a positive return on equity of 1.95%. The firm had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $667.94 million. As a group, equities analysts forecast that Surgery Partners will post 0.59 EPS for the current year.

Insider Transactions at Surgery Partners

In other news, CEO Jason Eric Evans sold 1,892 shares of Surgery Partners stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $45.10, for a total value of $85,329.20. Following the completion of the transaction, the chief executive officer now owns 424,898 shares in the company, valued at $19,162,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jason Eric Evans sold 1,892 shares of Surgery Partners stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $45.10, for a total value of $85,329.20. Following the completion of the transaction, the chief executive officer now owns 424,898 shares in the company, valued at $19,162,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Harrison R. Bane sold 3,835 shares of Surgery Partners stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $35.98, for a total transaction of $137,983.30. Following the completion of the transaction, the insider now owns 46,709 shares of the company’s stock, valued at approximately $1,680,589.82. The disclosure for this sale can be found here. Insiders sold 5,929 shares of company stock worth $230,425 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Surgery Partners by 2.8% in the 1st quarter. FMR LLC now owns 18,904,157 shares of the company’s stock worth $651,626,000 after acquiring an additional 513,573 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Surgery Partners by 2.2% in the 1st quarter. Wellington Management Group LLP now owns 6,946,272 shares of the company’s stock worth $239,438,000 after buying an additional 151,794 shares during the period. Durable Capital Partners LP grew its position in shares of Surgery Partners by 174.3% in the 4th quarter. Durable Capital Partners LP now owns 5,853,995 shares of the company’s stock worth $163,092,000 after buying an additional 3,719,766 shares during the period. Clearbridge Investments LLC grew its position in shares of Surgery Partners by 1.6% in the 1st quarter. Clearbridge Investments LLC now owns 5,564,807 shares of the company’s stock worth $191,819,000 after buying an additional 85,490 shares during the period. Finally, BlackRock Inc. grew its position in shares of Surgery Partners by 41.1% in the 2nd quarter. BlackRock Inc. now owns 5,372,530 shares of the company’s stock worth $241,710,000 after buying an additional 1,565,138 shares during the period.

Surgery Partners Company Profile

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 orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.