Surgery Partners (NASDAQ:SGRY) Price Target Cut to $29.00 by Analysts at UBS Group

Surgery Partners (NASDAQ:SGRY) had its target price decreased by investment analysts at UBS Group from $34.00 to $29.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 81.19% from the stock’s previous close.

Several other brokerages also recently weighed in on SGRY. Bank of America assumed coverage on shares of Surgery Partners in a report on Monday, July 28th. They set a “buy” rating and a $28.00 price target on the stock. Benchmark reduced their price target on shares of Surgery Partners from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $36.00 price objective on shares of Surgery Partners in a research note on Tuesday, October 7th. JPMorgan Chase & Co. initiated coverage on shares of Surgery Partners in a research note on Thursday, September 18th. They issued a “neutral” rating and a $27.00 price objective for the company. Finally, Royal Bank Of Canada reduced their price objective on Surgery Partners from $35.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.75.

Surgery Partners Stock Performance

Shares of NASDAQ SGRY traded up $0.15 during trading on Thursday, reaching $16.01. 2,199,113 shares of the company traded hands, compared to its average volume of 1,451,787. The stock has a market capitalization of $2.05 billion, a PE ratio of -11.20 and a beta of 1.85. The firm has a 50 day simple moving average of $21.22 and a 200-day simple moving average of $22.05. Surgery Partners has a 52-week low of $15.40 and a 52-week high of $26.16. The company has a quick ratio of 1.78, a current ratio of 1.93 and a debt-to-equity ratio of 1.10.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Monday, November 10th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $821.50 million during the quarter, compared to the consensus estimate of $823.55 million. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $0.19 EPS. Surgery Partners has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Surgery Partners will post 0.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Harrison R. Bane sold 9,339 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $22.48, for a total transaction of $209,940.72. Following the completion of the sale, the insider owned 117,181 shares of the company’s stock, valued at approximately $2,634,228.88. This represents a 7.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

Institutional Trading of Surgery Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in Surgery Partners by 86.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company’s stock worth $28,000 after buying an additional 542 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Surgery Partners by 112.0% in the 1st quarter. AlphaQuest LLC now owns 1,058 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Surgery Partners by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 341,702 shares of the company’s stock valued at $8,115,000 after purchasing an additional 926 shares during the period. Jones Financial Companies Lllp grew its stake in Surgery Partners by 313.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after buying an additional 930 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in Surgery Partners by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 65,091 shares of the company’s stock worth $1,447,000 after buying an additional 1,021 shares during the last quarter.

About Surgery Partners

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.