Zacks Investment Research lowered shares of Surgery Partners Inc (NASDAQ:SGRY) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Surgery Partners, Inc. is a healthcare services company. The Company’s outpatient delivery model focused on providing solutions for surgical and related ancillary care in support of its patients and physicians. Its operating segment consists of Surgical Facility Services segment, Ancillary Services segment and Optical Services segment. Surgery Partners, Inc. is based in Nashville, Tennessee. “

A number of other research analysts also recently issued reports on SGRY. Royal Bank of Canada restated a buy rating and issued a $20.00 price target on shares of Surgery Partners in a research report on Tuesday, January 3rd. Stifel Nicolaus downgraded shares of Surgery Partners from a buy rating to a hold rating and raised their price target for the stock from $17.00 to $19.00 in a research report on Friday, March 10th. Benchmark Co. began coverage on shares of Surgery Partners in a research report on Tuesday, January 31st. They issued a buy rating and a $24.00 price target on the stock. Finally, Jefferies Group LLC set a $24.00 price target on shares of Surgery Partners and gave the stock a buy rating in a research report on Tuesday, January 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $21.29.

Analyst Recommendations for Surgery Partners (NASDAQ:SGRY)

Shares of Surgery Partners (NASDAQ:SGRY) traded down 0.75% on Wednesday, reaching $19.75. 29,367 shares of the company’s stock traded hands. The firm has a market capitalization of $960.34 million, a price-to-earnings ratio of 100.25 and a beta of 1.27. The company has a 50 day moving average price of $20.29 and a 200 day moving average price of $18.13. Surgery Partners has a 52 week low of $11.76 and a 52 week high of $22.85.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Thursday, March 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. Surgery Partners had a return on equity of 17.09% and a net margin of 2.60%. The business earned $306 million during the quarter, compared to the consensus estimate of $298.16 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. On average, equities research analysts predict that Surgery Partners will post $0.67 earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Surgery Partners by 14.8% in the second quarter. Royal Bank of Canada now owns 11,062 shares of the company’s stock valued at $198,000 after buying an additional 1,428 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Surgery Partners during the fourth quarter valued at $252,000. Tudor Investment Corp Et Al purchased a new stake in shares of Surgery Partners during the fourth quarter valued at $331,000. California Public Employees Retirement System increased its stake in shares of Surgery Partners by 34.2% in the third quarter. California Public Employees Retirement System now owns 25,500 shares of the company’s stock valued at $516,000 after buying an additional 6,500 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in shares of Surgery Partners by 92.1% in the third quarter. Essex Investment Management Co. LLC now owns 43,864 shares of the company’s stock valued at $888,000 after buying an additional 21,036 shares in the last quarter. Hedge funds and other institutional investors own 36.44% of the company’s stock.

Surgery Partners Company Profile

Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.

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