UBS Group Cuts Surgery Partners (NASDAQ:SGRY) Price Target to $21.00

Surgery Partners (NASDAQ:SGRYFree Report) had its target price decreased by UBS Group from $29.00 to $21.00 in a report released on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

SGRY has been the topic of several other research reports. Benchmark restated a “buy” rating on shares of Surgery Partners in a research report on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a report on Monday, December 29th. Royal Bank Of Canada lowered their price target on shares of Surgery Partners from $31.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday. Mizuho reduced their price objective on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Surgery Partners in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Surgery Partners currently has an average rating of “Moderate Buy” and an average price target of $24.45.

View Our Latest Report on Surgery Partners

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $13.36 on Thursday. The stock has a 50-day moving average price of $15.20 and a 200 day moving average price of $18.11. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 1.15. Surgery Partners has a 12-month low of $12.25 and a 12-month high of $24.64. The stock has a market capitalization of $1.73 billion, a P/E ratio of -21.55 and a beta of 1.95.

Surgery Partners (NASDAQ:SGRYGet Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.19). The firm had revenue of $885.00 million for the quarter, compared to analysts’ expectations of $866.54 million. Surgery Partners had a negative net margin of 2.35% and a positive return on equity of 1.28%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. Equities research analysts forecast that Surgery Partners will post 0.67 EPS for the current fiscal year.

Surgery Partners declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Surgery Partners

Hedge funds have recently made changes to their positions in the stock. State of Wisconsin Investment Board grew its position in shares of Surgery Partners by 0.4% in the 4th quarter. State of Wisconsin Investment Board now owns 151,504 shares of the company’s stock worth $2,341,000 after buying an additional 668 shares during the last quarter. ProShare Advisors LLC grew its holdings in Surgery Partners by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 14,135 shares of the company’s stock worth $218,000 after purchasing an additional 909 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Surgery Partners by 313.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock valued at $27,000 after purchasing an additional 930 shares during the last quarter. AlphaQuest LLC raised its stake in Surgery Partners by 94.4% in the second quarter. AlphaQuest LLC now owns 2,057 shares of the company’s stock valued at $46,000 after buying an additional 999 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Surgery Partners by 1.6% in the second quarter. California State Teachers Retirement System now owns 65,091 shares of the company’s stock worth $1,447,000 after acquiring an additional 1,021 shares in the last quarter.

More Surgery Partners News

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Surgery Partners Company Profile

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Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.

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