Surgery Partners, Inc. (NASDAQ:SGRY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have earned an average rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.3636.

SGRY has been the topic of several recent analyst reports. US Capital Advisors set a $21.00 target price on Surgery Partners in a research report on Wednesday, March 11th. Royal Bank Of Canada reduced their target price on Surgery Partners from $31.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Jefferies Financial Group reissued a “buy” rating on shares of Surgery Partners in a report on Wednesday, March 4th. Mizuho cut their price objective on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Surgery Partners in a report on Wednesday, March 4th.

Surgery Partners Trading Up 2.8%

Shares of NASDAQ:SGRY opened at $12.64 on Friday. The business’s 50-day moving average is $13.69 and its 200 day moving average is $16.52. Surgery Partners has a 1 year low of $11.41 and a 1 year high of $24.18. The firm has a market capitalization of $1.64 billion, a P/E ratio of -20.39 and a beta of 1.99. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.87 and a quick ratio of 1.71.

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

Surgery Partners declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Danielle Burkhalter sold 7,736 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $13.60, for a total value of $105,209.60. Following the transaction, the insider directly owned 37,103 shares of the company’s stock, valued at approximately $504,600.80. This represents a 17.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marissa Brittenham sold 8,785 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $13.70, for a total value of $120,354.50. Following the completion of the transaction, the insider directly owned 54,623 shares in the company, valued at $748,335.10. This represents a 13.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 96,896 shares of company stock valued at $1,284,058. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SGRY. Jones Financial Companies Lllp increased its holdings in shares of Surgery Partners by 313.1% in the third quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock valued at $27,000 after purchasing an additional 930 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Surgery Partners by 45,640.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after acquiring an additional 2,282 shares during the period. PNC Financial Services Group Inc. grew its holdings in Surgery Partners by 128.4% during the third quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock worth $58,000 after acquiring an additional 1,519 shares during the period. Aquatic Capital Management LLC acquired a new stake in Surgery Partners during the third quarter worth about $121,000. Finally, State of Alaska Department of Revenue acquired a new stake in Surgery Partners during the third quarter worth about $151,000.

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.