Surgery Partners, Inc. (NASDAQ:SGRY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $23.3636.

Several brokerages have recently weighed in on SGRY. Benchmark restated a “buy” rating on shares of Surgery Partners in a report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Surgery Partners in a research report on Monday, December 29th. Barclays reduced their price objective on shares of Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Surgery Partners in a report on Wednesday, March 4th. Finally, TD Cowen dropped their target price on shares of Surgery Partners from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th.

Insider Buying and Selling

In related news, CEO Jason Eric Evans sold 20,400 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $12.47, for a total value of $254,388.00. Following the transaction, the chief executive officer directly owned 920,386 shares of the company’s stock, valued at approximately $11,477,213.42. This represents a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Danielle Burkhalter sold 7,736 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $13.60, for a total value of $105,209.60. Following the sale, the insider owned 37,103 shares in the company, valued at approximately $504,600.80. This represents a 17.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 96,896 shares of company stock worth $1,284,058 over the last 90 days. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Surgery Partners

Institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp raised its position in Surgery Partners by 313.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after buying an additional 930 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Surgery Partners by 45,640.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock valued at $49,000 after acquiring an additional 2,282 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Surgery Partners by 128.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock valued at $58,000 after acquiring an additional 1,519 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Surgery Partners in the third quarter worth approximately $121,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Surgery Partners in the third quarter worth approximately $151,000.

Surgery Partners Stock Performance

Surgery Partners stock opened at $12.18 on Friday. Surgery Partners has a twelve month low of $11.41 and a twelve month high of $24.18. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $1.58 billion, a P/E ratio of -19.64 and a beta of 1.99. The stock’s 50 day moving average is $13.90 and its 200 day moving average is $16.78.

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

Surgery Partners announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 9.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Surgery Partners Company Profile

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.