Surgery Partners’ (SGRY) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Surgery Partners (NASDAQ:SGRYFree Report) in a research note released on Tuesday,Benzinga reports. They currently have a $36.00 price target on the stock.

Several other equities analysts have also recently commented on SGRY. Bank of America started coverage on Surgery Partners in a research report on Monday, July 28th. They set a “buy” rating and a $28.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Surgery Partners in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. started coverage on Surgery Partners in a research report on Thursday, September 18th. They set a “neutral” rating and a $27.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Surgery Partners presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Check Out Our Latest Research Report on SGRY

Surgery Partners Price Performance

Shares of NASDAQ SGRY opened at $20.39 on Tuesday. Surgery Partners has a fifty-two week low of $18.87 and a fifty-two week high of $33.37. The stock has a fifty day moving average of $22.23 and a 200-day moving average of $22.26. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.78 and a current ratio of 1.93. The stock has a market cap of $2.61 billion, a PE ratio of -14.26 and a beta of 1.83.

Surgery Partners (NASDAQ:SGRYGet Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The business had revenue of $826.20 million during the quarter, compared to analysts’ expectations of $816.96 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Surgery Partners will post 0.67 earnings per share for the current year.

Insider Transactions at Surgery Partners

In other news, insider Harrison R. Bane sold 9,339 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $22.48, for a total value of $209,940.72. Following the completion of the sale, the insider owned 117,181 shares of the company’s stock, valued at approximately $2,634,228.88. The trade was a 7.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa Deluca sold 20,018 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.74, for a total value of $455,209.32. Following the completion of the sale, the director directly owned 45,173 shares of the company’s stock, valued at approximately $1,027,234.02. This trade represents a 30.71% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in shares of Surgery Partners by 86.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company’s stock valued at $28,000 after acquiring an additional 542 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Surgery Partners by 112.0% in the 1st quarter. AlphaQuest LLC now owns 1,058 shares of the company’s stock valued at $25,000 after acquiring an additional 559 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Surgery Partners by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 341,702 shares of the company’s stock valued at $8,115,000 after acquiring an additional 926 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Surgery Partners by 1.6% in the 2nd quarter. California State Teachers Retirement System now owns 65,091 shares of the company’s stock valued at $1,447,000 after acquiring an additional 1,021 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Surgery Partners by 7.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,582 shares of the company’s stock valued at $391,000 after acquiring an additional 1,176 shares during the last quarter.

Surgery Partners Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Surgery Partners (NASDAQ:SGRY)

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