JPMorgan Chase & Co. Increases Surgery Partners (NASDAQ:SGRY) Price Target to $15.00

Surgery Partners (NASDAQ:SGRY) had its price target raised by analysts at JPMorgan Chase & Co. from $14.00 to $15.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 4.31% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Zacks Research cut shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. TD Cowen upped their price objective on Surgery Partners from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Benchmark reissued a “buy” rating on shares of Surgery Partners in a report on Tuesday, August 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $18.00 price target on shares of Surgery Partners in a research note on Tuesday, August 11th. Finally, Raymond James Financial set a $18.00 price objective on Surgery Partners in a research report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Surgery Partners Stock Performance

Surgery Partners stock opened at $14.38 on Monday. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $1.88 billion, a P/E ratio of -20.54, a PEG ratio of 4.43 and a beta of 1.92. The stock’s 50 day moving average is $15.13 and its 200 day moving average is $14.31. Surgery Partners has a twelve month low of $11.41 and a twelve month high of $23.44.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The business had revenue of $848.90 million during the quarter, compared to analysts’ expectations of $830.03 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Surgery Partners will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Teresa DeLuca bought 10,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were bought at an average price of $14.35 per share, with a total value of $143,500.00. Following the completion of the acquisition, the director owned 66,843 shares in the company, valued at $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in shares of Surgery Partners by 239.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock worth $35,000 after buying an additional 2,051 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Surgery Partners during the 2nd quarter worth $38,000. Fifth Third Bancorp grew its position in shares of Surgery Partners by 5,324.0% during the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock valued at $48,000 after acquiring an additional 3,993 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Surgery Partners by 45,640.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after purchasing an additional 2,282 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in Surgery Partners in the 3rd quarter worth $121,000.

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.