Analysts Set Surgery Partners, Inc. (NASDAQ:SGRY) Price Target at $43.63

Surgery Partners, Inc. (NASDAQ:SGRY) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $43.63.

Several research firms have recently issued reports on SGRY. Citigroup reduced their target price on shares of Surgery Partners from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. StockNews.com upgraded Surgery Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Barclays started coverage on Surgery Partners in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 price target for the company. Benchmark restated a “buy” rating and issued a $50.00 price objective on shares of Surgery Partners in a research note on Wednesday, May 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $43.00 target price on shares of Surgery Partners in a research note on Wednesday, April 10th.

Insiders Place Their Bets

In other news, CEO Jason Eric Evans sold 1,984 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $29.44, for a total value of $58,408.96. Following the sale, the chief executive officer now owns 464,510 shares of the company’s stock, valued at $13,675,174.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Jason Eric Evans sold 1,984 shares of Surgery Partners stock in a transaction on Monday, March 11th. The stock was sold at an average price of $29.44, for a total value of $58,408.96. Following the completion of the transaction, the chief executive officer now directly owns 464,510 shares in the company, valued at $13,675,174.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bradley R. Owens sold 1,040 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $35.22, for a total value of $36,628.80. Following the sale, the insider now directly owns 73,149 shares in the company, valued at approximately $2,576,307.78. The disclosure for this sale can be found here. Insiders sold 14,831 shares of company stock worth $482,609 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in shares of Surgery Partners by 23.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,022,700 shares of the company’s stock worth $234,664,000 after buying an additional 1,511,396 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new position in Surgery Partners in the third quarter worth $42,705,000. Iron Triangle Partners LP bought a new position in Surgery Partners in the fourth quarter valued at $33,415,000. Norges Bank purchased a new stake in Surgery Partners during the fourth quarter valued at about $25,765,000. Finally, Vanguard Group Inc. lifted its stake in Surgery Partners by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 7,417,609 shares of the company’s stock worth $237,289,000 after purchasing an additional 698,845 shares during the last quarter.

Surgery Partners Price Performance

SGRY stock opened at $24.53 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.57 and a current ratio of 1.71. The business has a 50-day simple moving average of $27.63 and a two-hundred day simple moving average of $29.79. The company has a market capitalization of $3.12 billion, a P/E ratio of -245.30, a price-to-earnings-growth ratio of 2.24 and a beta of 2.75. Surgery Partners has a 52-week low of $22.05 and a 52-week high of $45.79.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. Surgery Partners had a positive return on equity of 3.65% and a negative net margin of 0.43%. The company had revenue of $735.40 million for the quarter, compared to analysts’ expectations of $741.93 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Surgery Partners’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts expect that Surgery Partners will post 0.78 EPS for the current fiscal year.

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.