Brokerages Set Surgery Partners, Inc. (NASDAQ:SGRY) Target Price at $36.56

Surgery Partners, Inc. (NASDAQ:SGRY) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $36.56.

SGRY has been the topic of a number of recent research reports. UBS Group assumed coverage on shares of Surgery Partners in a research report on Monday, October 14th. They set a “buy” rating and a $38.00 price target on the stock. Royal Bank of Canada lowered their target price on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Bank of America began coverage on Surgery Partners in a report on Monday, December 16th. They issued a “buy” rating and a $30.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Finally, KeyCorp began coverage on Surgery Partners in a report on Friday, October 11th. They issued a “sector weight” rating for the company.

Surgery Partners Stock Performance

NASDAQ SGRY opened at $20.65 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. The stock’s 50 day simple moving average is $23.00 and its 200-day simple moving average is $27.36. The company has a market cap of $2.62 billion, a PE ratio of -43.02, a price-to-earnings-growth ratio of 17.40 and a beta of 2.58. Surgery Partners has a 1-year low of $19.50 and a 1-year high of $35.29.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The firm had revenue of $770.40 million during the quarter, compared to analysts’ expectations of $768.99 million. During the same quarter in the previous year, the business posted $0.15 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities research analysts anticipate that Surgery Partners will post 0.71 EPS for the current fiscal year.

Institutional Trading of Surgery Partners

A number of hedge funds and other institutional investors have recently modified their holdings of SGRY. Quarry LP lifted its position in Surgery Partners by 133.1% in the second quarter. Quarry LP now owns 3,082 shares of the company’s stock valued at $73,000 after buying an additional 1,760 shares during the last quarter. KBC Group NV raised its position in Surgery Partners by 31.8% in the third quarter. KBC Group NV now owns 2,385 shares of the company’s stock valued at $77,000 after purchasing an additional 576 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in Surgery Partners by 747.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock worth $124,000 after acquiring an additional 3,379 shares in the last quarter. Creative Planning purchased a new position in shares of Surgery Partners in the third quarter valued at approximately $258,000. Finally, Versor Investments LP purchased a new stake in shares of Surgery Partners during the third quarter worth $271,000.

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.