Surgery Partners, Inc. (NASDAQ:SGRY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Surgery Partners, Inc. (NASDAQ:SGRYGet Free Report) has received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $24.4545.

Several analysts have recently weighed in on SGRY shares. JPMorgan Chase & Co. decreased their target price on shares of Surgery Partners from $27.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Mizuho dropped their price target on shares of Surgery Partners from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday. UBS Group decreased their price objective on Surgery Partners from $29.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Surgery Partners in a research note on Wednesday. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Surgery Partners in a research note on Wednesday.

Check Out Our Latest Research Report on SGRY

Surgery Partners Stock Performance

Shares of NASDAQ SGRY opened at $13.36 on Monday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -21.55 and a beta of 1.95. Surgery Partners has a one year low of $12.25 and a one year high of $24.64. The business has a fifty day simple moving average of $15.20 and a 200 day simple moving average of $18.07. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 1.15.

Surgery Partners (NASDAQ:SGRYGet Free Report) last posted its quarterly earnings results 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 business had revenue of $885.00 million for the quarter, compared to analyst estimates of $866.54 million. Surgery Partners had a positive return on equity of 1.28% and a negative net margin of 2.35%.The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. Sell-side analysts expect that Surgery Partners will post 0.67 EPS for the current year.

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

Institutional Trading of Surgery Partners

A number of large investors have recently bought and sold shares of SGRY. Janus Henderson Group PLC boosted its stake in shares of Surgery Partners by 3.8% in the 4th quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company’s stock valued at $209,162,000 after purchasing an additional 501,401 shares in the last quarter. Pentwater Capital Management LP grew its holdings in shares of Surgery Partners by 66.9% in the 3rd quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock worth $252,777,000 after purchasing an additional 4,681,000 shares during the last quarter. UBS Group AG increased its position in shares of Surgery Partners by 111.4% during the 4th quarter. UBS Group AG now owns 7,803,974 shares of the company’s stock worth $120,571,000 after purchasing an additional 4,113,052 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Surgery Partners by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,614,514 shares of the company’s stock valued at $164,778,000 after purchasing an additional 424,518 shares during the last quarter. Finally, King Street Capital Management L.P. lifted its holdings in Surgery Partners by 24.5% during the 2nd quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company’s stock valued at $138,382,000 after purchasing an additional 1,225,000 shares during the last quarter.

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Surgery Partners Company Profile

(Get Free Report)

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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Analyst Recommendations for Surgery Partners (NASDAQ:SGRY)

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