Surgery Partners, Inc. (NASDAQ:SGRY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $36.63.

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Surgery Partners in a research report on Tuesday, March 25th. Macquarie dropped their price objective on Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th.

Insider Activity

In related news, CFO David T. Doherty sold 6,733 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $24.02, for a total transaction of $161,726.66. Following the completion of the transaction, the chief financial officer now owns 150,868 shares in the company, valued at approximately $3,623,849.36. This represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Marissa Brittenham sold 3,156 shares of Surgery Partners stock in a transaction on Monday, March 10th. The shares were sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the sale, the insider now owns 63,408 shares in the company, valued at $1,527,498.72. The trade was a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,622 shares of company stock worth $2,717,860 over the last quarter. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Surgery Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. raised its stake in Surgery Partners by 12.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company’s stock valued at $91,000 after buying an additional 465 shares during the period. Mackenzie Financial Corp boosted its position in Surgery Partners by 2.8% during the fourth quarter. Mackenzie Financial Corp now owns 21,974 shares of the company’s stock worth $465,000 after purchasing an additional 599 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Surgery Partners by 1.4% in the fourth quarter. Wells Fargo & Company MN now owns 56,931 shares of the company’s stock valued at $1,205,000 after purchasing an additional 783 shares during the last quarter. MeadowBrook Investment Advisors LLC raised its position in shares of Surgery Partners by 16.6% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company’s stock valued at $218,000 after purchasing an additional 1,460 shares during the period. Finally, KBC Group NV lifted its stake in shares of Surgery Partners by 66.1% during the 4th quarter. KBC Group NV now owns 3,962 shares of the company’s stock worth $84,000 after buying an additional 1,577 shares during the last quarter.

Surgery Partners Stock Performance

Shares of NASDAQ SGRY opened at $21.22 on Friday. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -44.21, a PEG ratio of 19.21 and a beta of 2.40. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The business has a fifty day simple moving average of $23.63 and a 200 day simple moving average of $24.51. Surgery Partners has a one year low of $19.50 and a one year high of $33.97.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $864.40 million for the quarter, compared to analysts’ expectations of $828.09 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. Sell-side analysts expect that Surgery Partners will post 0.67 EPS for the current year.

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.