Surgery Partners (NASDAQ:SGRY) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Surgery Partners (NASDAQ:SGRY) in a research report report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $49.00 price target on the stock.

A number of other research firms also recently issued reports on SGRY. Benchmark reiterated a buy rating and set a $50.00 price target on shares of Surgery Partners in a research note on Wednesday, May 1st. Macquarie initiated coverage on Surgery Partners in a research note on Friday, June 28th. They set an outperform rating and a $31.00 price target for the company. Cantor Fitzgerald reiterated an overweight rating and set a $43.00 price target on shares of Surgery Partners in a research note on Tuesday, July 9th. Finally, Citigroup cut their price target on Surgery Partners from $42.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Surgery Partners has a consensus rating of Moderate Buy and a consensus target price of $39.86.

Surgery Partners Stock Down 0.8 %

Shares of SGRY traded down $0.24 during trading hours on Wednesday, hitting $29.74. The stock had a trading volume of 778,445 shares, compared to its average volume of 989,770. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.71 and a quick ratio of 1.56. The firm has a 50 day simple moving average of $26.58 and a 200-day simple moving average of $27.93. The firm has a market capitalization of $3.78 billion, a P/E ratio of 41.75, a price-to-earnings-growth ratio of 2.25 and a beta of 2.78. Surgery Partners has a 1-year low of $22.05 and a 1-year high of $37.83.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Tuesday, August 6th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $762.10 million during the quarter, compared to the consensus estimate of $735.94 million. Surgery Partners had a positive return on equity of 3.00% and a negative net margin of 1.17%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. Sell-side analysts predict that Surgery Partners will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Surgery Partners news, insider Bradley R. Owens sold 6,000 shares of Surgery Partners stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $27.65, for a total transaction of $165,900.00. Following the transaction, the insider now owns 72,338 shares of the company’s stock, valued at approximately $2,000,145.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Surgery Partners by 26.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock worth $66,643,000 after purchasing an additional 589,499 shares during the period. Arizona State Retirement System raised its holdings in shares of Surgery Partners by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 19,494 shares of the company’s stock worth $464,000 after purchasing an additional 359 shares during the period. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Surgery Partners in the 2nd quarter worth approximately $12,299,000. Wolverine Asset Management LLC bought a new stake in shares of Surgery Partners in the 2nd quarter worth approximately $552,000. Finally, Rhumbline Advisers raised its holdings in shares of Surgery Partners by 19.6% in the 2nd quarter. Rhumbline Advisers now owns 127,952 shares of the company’s stock worth $3,044,000 after purchasing an additional 20,963 shares during the period.

About Surgery Partners

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.