Surgery Partners (NASDAQ:SGRY) Stock Price Target Raised at TD Cowen

Surgery Partners (NASDAQ:SGRY) had its price target upped by research analysts at TD Cowen from $23.50 to $25.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen‘s price objective indicates a potential downside of 5.71% from the company’s previous close.

A number of other research firms have also weighed in on SGRY. Raymond James Financial set a $23.50 target price on Surgery Partners in a report on Monday, October 26th. Weiss Ratings raised Surgery Partners from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. Cantor Fitzgerald cut Surgery Partners from an “overweight” rating to a “hold” rating in a research note on Monday, October 26th. UBS Group downgraded shares of Surgery Partners from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $21.00 to $23.50 in a report on Wednesday, October 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Surgery Partners from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, September 14th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.70.

Surgery Partners Stock Down 0.8%

Shares of NASDAQ:SGRY traded down $0.21 during midday trading on Wednesday, hitting $26.52. 1,165,282 shares of the company’s stock were exchanged, compared to its average volume of 2,246,990. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78. Surgery Partners has a 12 month low of $11.41 and a 12 month high of $27.23. The company has a market cap of $3.47 billion, a PE ratio of -39.00 and a beta of 1.85. The stock has a 50 day moving average price of $16.55 and a 200-day moving average price of $14.94.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. The business had revenue of $815.30 million for the quarter, compared to analysts’ expectations of $820.96 million. Surgery Partners had a negative net margin of 2.59% and a positive return on equity of 0.96%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 EPS. On average, sell-side analysts anticipate that Surgery Partners will post 0.07 EPS for the current fiscal year.

Insider Transactions at Surgery Partners

In other Surgery Partners news, Director Teresa DeLuca bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average cost of $14.35 per share, with a total value of $143,500.00. Following the transaction, the director directly owned 66,843 shares in the company, valued at $959,197.05. This trade represents a 17.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Surgery Partners

A number of hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new stake in shares of Surgery Partners during the 3rd quarter valued at approximately $560,000. Vise Technologies Inc. purchased a new stake in Surgery Partners in the third quarter valued at approximately $191,000. State of Wyoming raised its stake in Surgery Partners by 51.4% in the third quarter. State of Wyoming now owns 23,568 shares of the company’s stock valued at $327,000 after purchasing an additional 7,997 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Surgery Partners during the third quarter valued at approximately $426,000. Finally, Inspire Investing LLC lifted its position in Surgery Partners by 10.1% during the third quarter. Inspire Investing LLC now owns 44,768 shares of the company’s stock valued at $621,000 after purchasing an additional 4,099 shares during the last quarter.

Surgery Partners News Roundup

These are some of the SGRY news items that stood out recently:

• Positive Sentiment: Surgery Partners reported third-quarter adjusted EPS of $0.16, above the roughly $0.11 analyst consensus. Its amended merger terms with HealthSpan raised the reported buyout price to $25 per share, and RBC said a revised competing offer could be possible—fueling expectations of additional deal value. Article: Surgery Partners secures improved merger terms
• Neutral Sentiment: The merger remains a key source of uncertainty: reports describe a $25-per-share amended offer, while the latest shareholder-law-firm notice refers to a $23.50-per-share transaction. Investors may be looking for clarification on the definitive terms and whether a higher rival bid emerges. Article: Surgery Partners could see revised rival offer
• Negative Sentiment: Mizuho downgraded SGRY from “outperform” to “neutral,” despite raising its target to $25; that target is below the recently reported trading price. RBC also rates the shares “sector perform” with a $25 target, reinforcing limited perceived upside absent a higher offer. Article: Mizuho rating information

About Surgery Partners

Surgery Partners, Inc. is a U.S. healthcare services company that owns and operates ambulatory surgery centers and surgical hospitals. Its facilities provide outpatient and inpatient surgical care across a range of specialties. The company’s services include surgical procedures and related care delivered in partnership with physicians and healthcare professionals. Its network serves patients in multiple states across the United States. Founded in 2004, Surgery Partners has expanded its network through acquisitions and partnerships with physicians and health systems.