Surgery Partners (NASDAQ:SGRY) PT Lowered to $38.00

Surgery Partners (NASDAQ:SGRY) had its target price decreased by Citigroup from $42.00 to $38.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 40.38% from the stock’s current price.

Other analysts have also issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $49.00 price target on shares of Surgery Partners in a research report on Thursday, February 29th. Barclays initiated coverage on shares of Surgery Partners in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 target price for the company. StockNews.com raised Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Benchmark reiterated a “buy” rating and set a $50.00 price target on shares of Surgery Partners in a report on Wednesday, May 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Surgery Partners currently has an average rating of “Moderate Buy” and an average price target of $43.13.

Surgery Partners Price Performance

Shares of SGRY stock traded down $0.70 during mid-day trading on Wednesday, hitting $27.07. 1,226,479 shares of the stock traded hands, compared to its average volume of 925,552. Surgery Partners has a twelve month low of $22.05 and a twelve month high of $45.79. 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 company’s 50-day simple moving average is $27.46 and its 200-day simple moving average is $29.81. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -270.40, a price-to-earnings-growth ratio of 2.24 and a beta of 2.75.

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. The company had revenue of $735.40 million for the quarter, compared to the consensus estimate of $741.93 million. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 EPS. As a group, equities research analysts expect that Surgery Partners will post 0.78 earnings per share for the current year.

Insider Buying and Selling at Surgery Partners

In related news, insider Bradley R. Owens sold 1,040 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $35.22, for a total value of $36,628.80. Following the completion of the transaction, the insider now owns 73,149 shares of the company’s stock, valued at $2,576,307.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jason Eric Evans sold 5,780 shares of Surgery Partners stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $35.08, for a total transaction of $202,762.40. Following the completion of the transaction, the chief executive officer now directly owns 419,118 shares of the company’s stock, valued at approximately $14,702,659.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bradley R. Owens sold 1,040 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $35.22, for a total transaction of $36,628.80. Following the sale, the insider now directly owns 73,149 shares of the company’s stock, valued at approximately $2,576,307.78. The disclosure for this sale can be found here. Insiders have sold 14,664 shares of company stock valued at $477,225 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Surgery Partners

Large investors have recently bought and sold shares of the business. Raymond James & Associates grew its holdings in shares of Surgery Partners by 1.2% during the third quarter. Raymond James & Associates now owns 61,188 shares of the company’s stock worth $1,790,000 after purchasing an additional 736 shares during the last quarter. Bank of New York Mellon Corp increased its position in Surgery Partners by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 317,983 shares of the company’s stock valued at $9,301,000 after acquiring an additional 18,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Surgery Partners by 15.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,506 shares of the company’s stock worth $307,000 after acquiring an additional 1,387 shares during the last quarter. Inspire Investing LLC grew its position in Surgery Partners by 160.3% during the third quarter. Inspire Investing LLC now owns 18,103 shares of the company’s stock worth $530,000 after buying an additional 11,147 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of Surgery Partners by 109.9% in the third quarter. TD Asset Management Inc now owns 207,982 shares of the company’s stock worth $6,083,000 after purchasing an additional 108,911 shares during the period.

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.