Surgery Partners Inc. (SGRY) Receives $22.44 Consensus Price Target from Analysts
Surgery Partners Inc. (NASDAQ:SGRY) has received a consensus rating of “Buy” from the eleven brokerages that are currently covering the firm. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.44.
SGRY has been the topic of several analyst reports. Barclays PLC initiated coverage on Surgery Partners in a report on Wednesday, July 13th. They set an “equal weight” rating and a $20.00 target price on the stock. Zacks Investment Research downgraded Surgery Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Finally, Jefferies Group reiterated a “buy” rating and set a $27.00 target price on shares of Surgery Partners in a report on Wednesday, August 10th.
Surgery Partners (NASDAQ:SGRY) opened at 20.39 on Tuesday. Surgery Partners has a one year low of $11.76 and a one year high of $22.32. The firm has a market capitalization of $989.53 million and a P/E ratio of 110.22. The company has a 50-day moving average price of $19.44 and a 200-day moving average price of $16.76.
Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $289.70 million for the quarter, compared to analyst estimates of $275.99 million. Surgery Partners had a return on equity of 18.80% and a net margin of 2.63%. Surgery Partners’s quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts anticipate that Surgery Partners will post $0.63 EPS for the current year.
In other news, VP Jennifer Baldock sold 2,500 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $19.20, for a total value of $48,000.00. Following the transaction, the vice president now directly owns 66,983 shares in the company, valued at approximately $1,286,073.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SGRY. Vaughan Nelson Investment Management L.P. increased its stake in shares of Surgery Partners by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,752,850 shares of the company’s stock valued at $49,276,000 after buying an additional 543,100 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Surgery Partners by 1.0% in the second quarter. TimesSquare Capital Management LLC now owns 1,995,000 shares of the company’s stock valued at $35,711,000 after buying an additional 20,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Surgery Partners by 18.4% in the second quarter. Vanguard Group Inc. now owns 1,310,232 shares of the company’s stock valued at $23,453,000 after buying an additional 203,651 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Surgery Partners during the second quarter valued at approximately $19,143,000. Finally, Cortina Asset Management LLC acquired a new stake in shares of Surgery Partners during the second quarter valued at approximately $12,327,000. Institutional investors and hedge funds own 38.32% of the company’s stock.
About Surgery Partners
Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.
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