Mizuho Lowers Surgery Partners (NASDAQ:SGRY) Price Target to $17.00

Surgery Partners (NASDAQ:SGRY) had its target price reduced by research analysts at Mizuho from $19.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 20.74% from the stock’s previous close.

Several other brokerages have also commented on SGRY. UBS Group decreased their price objective on Surgery Partners from $34.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Surgery Partners in a research note on Wednesday. Benchmark restated a “buy” rating on shares of Surgery Partners in a research note on Tuesday. Barclays lowered their target price on shares of Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Royal Bank Of Canada cut their price target on shares of Surgery Partners from $31.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.70.

Surgery Partners Stock Performance

SGRY stock opened at $14.08 on Thursday. Surgery Partners has a one year low of $12.25 and a one year high of $24.64. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -22.71 and a beta of 1.95. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.72 and a current ratio of 1.87. The firm has a 50-day simple moving average of $15.28 and a two-hundred day simple moving average of $18.24.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Monday, March 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.19). Surgery Partners had a positive return on equity of 1.28% and a negative net margin of 2.35%.The firm had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $866.54 million. During the same period in the previous year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Surgery Partners will post 0.67 EPS for the current fiscal year.

Surgery Partners declared that its board has initiated a share repurchase program on Thursday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 9.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Surgery Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Surgery Partners by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock valued at $1,085,000 after purchasing an additional 2,015 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Surgery Partners by 1,253.7% in the first quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock worth $4,804,000 after buying an additional 219,806 shares during the last quarter. Empowered Funds LLC grew its holdings in Surgery Partners by 11.0% during the first quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock worth $305,000 after acquiring an additional 1,278 shares during the period. AlphaQuest LLC lifted its holdings in Surgery Partners by 94.4% in the second quarter. AlphaQuest LLC now owns 2,057 shares of the company’s stock valued at $46,000 after acquiring an additional 999 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Surgery Partners by 7.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 32,763 shares of the company’s stock worth $728,000 after purchasing an additional 2,284 shares in the last quarter.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.