JPMorgan Chase & Co. Lowers Surgery Partners (NASDAQ:SGRY) Price Target to $45.00

Surgery Partners (NASDAQ:SGRYGet Rating) had its price target cut by investment analysts at JPMorgan Chase & Co. from $57.00 to $45.00 in a note issued to investors on Wednesday, The Fly reports. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 63.70% from the company’s current price.

Several other brokerages have also commented on SGRY. SVB Leerink lowered their price objective on Surgery Partners from $55.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday. Stifel Nicolaus reduced their price target on Surgery Partners from $44.00 to $36.00 in a report on Tuesday. Citigroup reduced their price target on Surgery Partners from $49.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, November 9th. StockNews.com downgraded Surgery Partners from a “hold” rating to a “sell” rating in a report on Saturday, November 5th. Finally, Royal Bank of Canada reduced their price objective on Surgery Partners from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, November 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.00.

Surgery Partners Stock Up 6.8 %

Shares of Surgery Partners stock opened at $27.49 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.07 and a current ratio of 1.18. Surgery Partners has a 52-week low of $20.46 and a 52-week high of $63.87. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -78.54 and a beta of 2.82. The company’s 50 day moving average price is $26.02 and its 200-day moving average price is $31.61.

Insider Buying and Selling at Surgery Partners

In other Surgery Partners news, insider Laura L. Brocklehurst sold 4,338 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $22.96, for a total transaction of $99,600.48. Following the completion of the sale, the insider now directly owns 41,424 shares in the company, valued at approximately $951,095.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Laura L. Brocklehurst sold 4,338 shares of Surgery Partners stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $22.96, for a total transaction of $99,600.48. Following the transaction, the insider now directly owns 41,424 shares of the company’s stock, valued at approximately $951,095.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brent Turner acquired 10,000 shares of the stock in a transaction dated Monday, November 21st. The shares were bought at an average cost of $24.50 per share, for a total transaction of $245,000.00. Following the completion of the transaction, the director now owns 57,701 shares in the company, valued at $1,413,674.50. The disclosure for this purchase can be found here. Insiders sold a total of 4,671 shares of company stock worth $109,474 in the last three months. 3.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in Surgery Partners by 139.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,379 shares of the company’s stock worth $32,000 after purchasing an additional 804 shares in the last quarter. Signaturefd LLC purchased a new position in Surgery Partners in the 3rd quarter worth approximately $43,000. Great West Life Assurance Co. Can purchased a new position in Surgery Partners in the 3rd quarter worth approximately $44,000. PNC Financial Services Group Inc. lifted its holdings in Surgery Partners by 34.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,195 shares of the company’s stock worth $66,000 after purchasing an additional 308 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Surgery Partners in the 2nd quarter worth approximately $108,000.

About Surgery Partners

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Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company operates through two segments, Surgical Facility Services and Ancillary Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.

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