Surgery Partners Inc. (SGRY) Given Buy Rating at Jefferies Group
Surgery Partners Inc. (NASDAQ:SGRY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group in a research report issued to clients and investors on Thursday. They currently have a $24.00 price target on the stock. Jefferies Group’s price target points to a potential upside of 64.38% from the company’s previous close.
A number of other research analysts have also recently commented on the company. Barclays PLC initiated coverage on Surgery Partners in a research note on Wednesday, July 13th. They set an “equal weight” rating and a $20.00 price objective on the stock. Zacks Investment Research cut Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $21.14.
Surgery Partners (NASDAQ:SGRY) opened at 14.60 on Thursday. Surgery Partners has a 1-year low of $11.76 and a 1-year high of $22.32. The company’s 50-day moving average price is $18.75 and its 200-day moving average price is $17.32. The stock has a market cap of $708.54 million and a P/E ratio of 78.92.
Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.07. The company had revenue of $282.70 million for the quarter, compared to analysts’ expectations of $283.80 million. Surgery Partners had a return on equity of 18.80% and a net margin of 2.63%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Analysts predict that Surgery Partners will post $0.63 EPS for the current year.
In other Surgery Partners news, VP Jennifer Baldock sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $19.20, for a total transaction of $48,000.00. Following the sale, the vice president now owns 66,983 shares in the company, valued at $1,286,073.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its stake in shares of Surgery Partners by 914.3% in the second quarter. Acrospire Investment Management LLC now owns 7,100 shares of the company’s stock valued at $127,000 after buying an additional 6,400 shares during the last quarter. BlackRock Group LTD purchased a new stake in shares of Surgery Partners during the third quarter valued at about $200,000. Bellevue Group AG purchased a new stake in shares of Surgery Partners during the first quarter valued at about $133,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Surgery Partners during the second quarter valued at about $181,000. Finally, BlackRock Advisors LLC boosted its stake in shares of Surgery Partners by 16.5% in the third quarter. BlackRock Advisors LLC now owns 10,162 shares of the company’s stock valued at $206,000 after buying an additional 1,440 shares during the last quarter. Hedge funds and other institutional investors own 37.29% of the company’s stock.
Surgery Partners Company Profile
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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