Surgery Partners’ (SGRY) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of Surgery Partners (NASDAQ:SGRY) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $19.00 target price on the stock.

Several other research firms have also recently weighed in on SGRY. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Surgery Partners in a report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their target price on Surgery Partners from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Zacks Research lowered Surgery Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Benchmark restated a “buy” rating on shares of Surgery Partners in a research note on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Surgery Partners in a report on Friday, August 21st. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Surgery Partners Price Performance

Shares of NASDAQ:SGRY opened at $13.32 on Wednesday. The company has a 50 day moving average of $14.50 and a 200 day moving average of $14.29. The company has a current ratio of 1.95, a quick ratio of 1.78 and a debt-to-equity ratio of 1.18. The stock has a market cap of $1.74 billion, a P/E ratio of -19.03, a P/E/G ratio of 4.09 and a beta of 1.90. Surgery Partners has a 12 month low of $11.41 and a 12 month high of $23.44.

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

Insider Activity

In related news, Director Teresa DeLuca bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the director owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

A number of large investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new position in shares of Surgery Partners during the second quarter worth approximately $233,220,000. Pentwater Capital Management LP bought a new stake in shares of Surgery Partners in the 2nd quarter worth approximately $195,384,000. BlackRock Inc. purchased a new stake in shares of Surgery Partners in the 2nd quarter valued at $104,857,000. Dimensional Fund Advisors LP boosted its stake in shares of Surgery Partners by 7.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company’s stock valued at $63,131,000 after purchasing an additional 389,831 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Surgery Partners during the 2nd quarter valued at $48,912,000.

Surgery Partners Company Profile

Surgery Partners, Inc (NASDAQ:SGRY) is a healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals in partnership with physicians and health systems. Its facilities provide scheduled surgical care in outpatient and inpatient settings, with an emphasis on procedures that generally do not require extended hospital stays.

The company supports a range of specialties, including orthopedics, pain management, ophthalmology, gastroenterology, gynecology, and general surgery.