Surgery Partners (NASDAQ:SGRY) Earns “Buy” Rating from Benchmark

Benchmark reiterated their buy rating on shares of Surgery Partners (NASDAQ:SGRY) in a research note published on Monday, Benzinga reports. Benchmark currently has a $50.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Citigroup cut their price target on shares of Surgery Partners from $38.00 to $36.00 and set a buy rating on the stock in a report on Wednesday, August 7th. StockNews.com downgraded shares of Surgery Partners from a hold rating to a sell rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an overweight rating and set a $43.00 price objective on shares of Surgery Partners in a research note on Monday, August 19th. Macquarie started coverage on shares of Surgery Partners in a research note on Friday, June 28th. They set an outperform rating and a $31.00 price objective for the company. Finally, Royal Bank of Canada reiterated an outperform rating and set a $49.00 price objective on shares of Surgery Partners in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $39.86.

Surgery Partners Price Performance

NASDAQ SGRY opened at $32.01 on Monday. The firm’s fifty day simple moving average is $27.75 and its two-hundred day simple moving average is $27.72. The company has a current ratio of 1.83, a quick ratio of 1.69 and a debt-to-equity ratio of 0.96. Surgery Partners has a 12-month low of $22.05 and a 12-month high of $37.83. The firm has a market capitalization of $4.07 billion, a P/E ratio of 40.34, a P/E/G ratio of 1.70 and a beta of 2.78.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. Surgery Partners had a negative net margin of 1.17% and a positive return on equity of 2.96%. The business had revenue of $762.10 million for the quarter, compared to analyst estimates of $735.94 million. During the same period in the previous year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts forecast that Surgery Partners will post 0.87 EPS for the current fiscal year.

Insider Activity at Surgery Partners

In related news, insider Bradley R. Owens sold 6,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 72,338 shares in the company, valued at $2,000,145.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SGRY. Janus Henderson Group PLC raised its position in shares of Surgery Partners by 7,987.1% in the first quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock worth $74,701,000 after acquiring an additional 2,473,282 shares during the period. Deerfield Management Company L.P. Series C increased its stake in shares of Surgery Partners by 47.7% during the second quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock worth $111,986,000 after purchasing an additional 1,520,484 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Surgery Partners during the second quarter worth about $29,288,000. Iron Triangle Partners LP purchased a new stake in shares of Surgery Partners during the fourth quarter worth about $33,415,000. Finally, Norges Bank purchased a new stake in shares of Surgery Partners during the fourth quarter worth about $25,765,000.

Surgery Partners Company Profile

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.