Barclays Lowers Surgery Partners (NASDAQ:SGRY) Price Target to $56.00

Surgery Partners (NASDAQ:SGRYGet Rating) had its price objective lowered by equities research analysts at Barclays from $69.00 to $56.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 73.75% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Benchmark dropped their price target on Surgery Partners from $60.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, December 5th. Citigroup dropped their price target on Surgery Partners from $49.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. SVB Leerink decreased their price objective on Surgery Partners from $55.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, November 22nd. StockNews.com cut Surgery Partners from a “hold” rating to a “sell” rating in a report on Saturday, November 5th. Finally, Stifel Nicolaus decreased their price objective on Surgery Partners from $44.00 to $36.00 in a report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Surgery Partners has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Surgery Partners Stock Up 0.9 %

Shares of NASDAQ SGRY opened at $32.23 on Wednesday. The company has a market cap of $2.90 billion, a P/E ratio of -92.08 and a beta of 2.74. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.47. The business has a 50-day simple moving average of $27.81 and a two-hundred day simple moving average of $29.23. Surgery Partners has a 52 week low of $20.46 and a 52 week high of $63.87.

Surgery Partners (NASDAQ:SGRYGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07). The business had revenue of $620.60 million for the quarter, compared to the consensus estimate of $622.97 million. Surgery Partners had a negative net margin of 1.28% and a negative return on equity of 0.51%. Research analysts anticipate that Surgery Partners will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Surgery Partners news, insider Laura L. Brocklehurst sold 4,338 shares of Surgery Partners stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $22.96, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Surgery Partners news, insider Laura L. Brocklehurst sold 4,338 shares of Surgery Partners stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $22.96, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brent Turner purchased 10,000 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was bought at an average cost of $24.50 per share, for a total transaction of $245,000.00. Following the completion of the purchase, the director now directly owns 57,701 shares in the company, valued at $1,413,674.50. The disclosure for this purchase can be found here. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

Several hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in shares of Surgery Partners by 13.5% during the second quarter. FMR LLC now owns 13,484,523 shares of the company’s stock valued at $389,972,000 after buying an additional 1,606,776 shares during the period. Clearbridge Investments LLC increased its stake in shares of Surgery Partners by 6.4% during the second quarter. Clearbridge Investments LLC now owns 4,341,837 shares of the company’s stock valued at $125,566,000 after buying an additional 259,325 shares during the period. Vanguard Group Inc. increased its stake in shares of Surgery Partners by 0.6% during the third quarter. Vanguard Group Inc. now owns 3,775,566 shares of the company’s stock valued at $88,349,000 after buying an additional 22,936 shares during the period. BlackRock Inc. increased its stake in shares of Surgery Partners by 2.4% during the third quarter. BlackRock Inc. now owns 2,606,096 shares of the company’s stock valued at $60,983,000 after buying an additional 60,462 shares during the period. Finally, Durable Capital Partners LP boosted its position in shares of Surgery Partners by 26.0% during the third quarter. Durable Capital Partners LP now owns 2,134,229 shares of the company’s stock valued at $49,941,000 after purchasing an additional 439,949 shares in the last quarter.

About Surgery Partners

(Get Rating)

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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