Surgery Partners (NASDAQ:SGRY) PT Lowered to $38.00 at Citigroup

Surgery Partners (NASDAQ:SGRY) had its price objective cut by research analysts at Citigroup from $42.00 to $38.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 40.27% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $49.00 price objective on shares of Surgery Partners in a report on Thursday, February 29th. Barclays assumed coverage on shares of Surgery Partners in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 price objective on shares of Surgery Partners in a research note on Wednesday, April 10th. Benchmark reiterated a “buy” rating and set a $50.00 price target on shares of Surgery Partners in a research report on Wednesday, May 1st. Finally, StockNews.com raised Surgery Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.13.

Surgery Partners Trading Down 0.3 %

NASDAQ:SGRY opened at $27.09 on Wednesday. The firm has a 50-day moving average price of $27.30 and a two-hundred day moving average price of $29.78. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -270.90, a price-to-earnings-growth ratio of 2.24 and a beta of 2.75. Surgery Partners has a 52 week low of $22.05 and a 52 week high of $45.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.57 and a current ratio of 1.71.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. Surgery Partners had a positive return on equity of 3.65% and a negative net margin of 0.43%. The business had revenue of $735.40 million during the quarter, compared to the consensus estimate of $741.93 million. During the same period last year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts expect that Surgery Partners will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Surgery Partners news, CEO Jason Eric Evans sold 4,840 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $29.71, for a total transaction of $143,796.40. Following the transaction, the chief executive officer now owns 459,670 shares in the company, valued at approximately $13,656,795.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Surgery Partners news, CEO Jason Eric Evans sold 4,840 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $29.71, for a total transaction of $143,796.40. Following the completion of the transaction, the chief executive officer now owns 459,670 shares of the company’s stock, valued at $13,656,795.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradley R. Owens sold 1,040 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $35.22, for a total transaction of $36,628.80. Following the completion of the sale, the insider now directly owns 73,149 shares in the company, valued at $2,576,307.78. The disclosure for this sale can be found here. Insiders sold a total of 14,664 shares of company stock valued at $477,225 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

Several institutional investors and hedge funds have recently modified their holdings of SGRY. Raymond James & Associates boosted its stake in Surgery Partners by 1.2% during the 3rd quarter. Raymond James & Associates now owns 61,188 shares of the company’s stock valued at $1,790,000 after purchasing an additional 736 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Surgery Partners by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 317,983 shares of the company’s stock worth $9,301,000 after buying an additional 18,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Surgery Partners by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,506 shares of the company’s stock worth $307,000 after purchasing an additional 1,387 shares during the period. Inspire Investing LLC boosted its holdings in shares of Surgery Partners by 160.3% in the third quarter. Inspire Investing LLC now owns 18,103 shares of the company’s stock worth $530,000 after buying an additional 11,147 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Surgery Partners by 109.9% during the third quarter. TD Asset Management Inc now owns 207,982 shares of the company’s stock valued at $6,083,000 after buying an additional 108,911 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.