Surgery Partners (NASDAQ:SGRY) Rating Reiterated by Benchmark

Surgery Partners (NASDAQ:SGRY)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research note issued to investors on Monday, Benzinga reports. They currently have a $50.00 price target on the stock. Benchmark’s price objective points to a potential upside of 50.20% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Macquarie initiated coverage on Surgery Partners in a research report on Friday, June 28th. They set an “outperform” rating and a $31.00 price target on the stock. Citigroup cut their target price on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a research note on Monday, August 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $49.00 price target on shares of Surgery Partners in a research report on Wednesday, August 7th. Finally, StockNews.com lowered Surgery Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.86.

Surgery Partners Stock Performance

NASDAQ SGRY traded down $0.40 during trading hours on Monday, reaching $33.29. 501,237 shares of the company were exchanged, compared to its average volume of 1,000,556. The company has a quick ratio of 1.69, a current ratio of 1.83 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $4.23 billion, a P/E ratio of 40.34, a P/E/G ratio of 1.70 and a beta of 2.78. Surgery Partners has a 1 year low of $22.05 and a 1 year high of $37.83. The business’s 50 day simple moving average is $27.31 and its 200-day simple moving average is $27.70.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Surgery Partners had a negative net margin of 1.17% and a positive return on equity of 2.96%. The company had revenue of $762.10 million for the quarter, compared to analysts’ expectations of $735.94 million. During the same quarter in the previous year, the firm posted $0.25 EPS. Surgery Partners’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts expect that Surgery Partners will post 0.87 earnings per share for the current year.

Insider Transactions at Surgery Partners

In related news, insider Danielle Burkhalter sold 6,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $26.39, for a total value of $158,340.00. Following the transaction, the insider now owns 30,354 shares of the company’s stock, valued at $801,042.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Surgery Partners

Several hedge funds and other institutional investors have recently bought and sold shares of SGRY. BNP Paribas Financial Markets lifted its holdings in shares of Surgery Partners by 54.1% in the 4th quarter. BNP Paribas Financial Markets now owns 315,083 shares of the company’s stock worth $10,080,000 after acquiring an additional 110,664 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Surgery Partners by 16.5% in the first quarter. First Eagle Investment Management LLC now owns 339,474 shares of the company’s stock worth $10,127,000 after purchasing an additional 48,100 shares during the last quarter. Iron Triangle Partners LP purchased a new stake in Surgery Partners during the fourth quarter valued at about $33,415,000. Norges Bank purchased a new stake in Surgery Partners during the fourth quarter valued at about $25,765,000. Finally, Bamco Inc. NY grew its stake in shares of Surgery Partners by 100.0% during the first quarter. Bamco Inc. NY now owns 90,000 shares of the company’s stock valued at $2,685,000 after buying an additional 45,000 shares during the last quarter.

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.