Surgery Partners, Inc. (NASDAQ:SGRY) Stock Has Average Price Target of $19.00

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.00.

SGRY has been the topic of a number of recent analyst reports. TD Cowen restated a “buy” rating and issued a $19.00 price target on shares of Surgery Partners in a research report on Friday, September 18th. Raymond James Financial set a $18.00 price objective on shares of Surgery Partners in a research report on Tuesday, August 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $18.00 target price on shares of Surgery Partners in a report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their target price on shares of Surgery Partners from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, September 14th. Finally, Zacks Research cut shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th.

Surgery Partners Price Performance

Shares of SGRY opened at $14.20 on Friday. The business has a 50-day moving average of $14.71 and a 200-day moving average of $14.26. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -20.29, a price-to-earnings-growth ratio of 4.89 and a beta of 1.92. Surgery Partners has a 1 year low of $11.41 and a 1 year high of $23.44.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $848.90 million for the quarter, compared to analysts’ expectations of $830.03 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. As a group, equities research analysts anticipate that Surgery Partners will post 0.25 earnings per share for the current year.

Insider Activity

In other Surgery Partners news, Director Teresa DeLuca acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were bought at an average cost of $14.35 per share, with a total value of $143,500.00. Following the purchase, the director directly owned 66,843 shares of the company’s stock, valued at $959,197.05. This trade represents a 17.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Surgery Partners

Several large investors have recently added to or reduced their stakes in SGRY. Squarepoint Ops LLC bought a new stake in Surgery Partners in the second quarter worth approximately $308,000. Varde Management L.P. boosted its holdings in shares of Surgery Partners by 32.8% during the 2nd quarter. Varde Management L.P. now owns 1,003,447 shares of the company’s stock worth $16,858,000 after buying an additional 248,009 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Surgery Partners by 19.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 166,411 shares of the company’s stock worth $2,762,000 after buying an additional 27,559 shares in the last quarter. Penn Capital Management Company LLC bought a new position in shares of Surgery Partners during the 2nd quarter worth approximately $2,941,000. Finally, Hsbc Holdings PLC grew its position in shares of Surgery Partners by 54.5% during the 2nd quarter. Hsbc Holdings PLC now owns 2,958,912 shares of the company’s stock worth $48,912,000 after buying an additional 1,043,244 shares during the period.

About Surgery Partners

Surgery Partners, Inc (NASDAQ: SGRY) is a healthcare services company that owns and operates a network of ambulatory surgery centers and surgical hospitals in the United States. The company works with physicians and health systems to provide outpatient and same-day surgical care in settings outside traditional hospital facilities.

Its services cover a range of specialties, including orthopedics, pain management, gastroenterology, ophthalmology, gynecology, urology and other procedural areas.