Surgery Partners’ (SGRY) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Surgery Partners (NASDAQ:SGRY) in a report issued on Tuesday,Benzinga reports. They currently have a $35.00 price objective on the stock.

Several other research analysts also recently commented on SGRY. Bank of America started coverage on Surgery Partners in a report on Monday, December 16th. They issued a “buy” rating and a $30.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. Finally, Macquarie dropped their target price on shares of Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.63.

Surgery Partners Stock Performance

Shares of NASDAQ SGRY opened at $24.19 on Tuesday. Surgery Partners has a 52 week low of $19.50 and a 52 week high of $33.97. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -50.40, a P/E/G ratio of 19.21 and a beta of 2.73. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. The business’s 50-day simple moving average is $24.08 and its 200-day simple moving average is $25.65.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Monday, March 3rd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $864.40 million during the quarter, compared to analysts’ expectations of $828.09 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. As a group, equities research analysts expect that Surgery Partners will post 0.67 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO David T. Doherty sold 13,641 shares of Surgery Partners stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $25.61, for a total value of $349,346.01. Following the sale, the chief financial officer now owns 108,862 shares of the company’s stock, valued at approximately $2,787,955.82. This trade represents a 11.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marissa Brittenham sold 3,156 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $24.09, for a total value of $76,028.04. Following the transaction, the insider now directly owns 63,408 shares of the company’s stock, valued at approximately $1,527,498.72. This trade represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,622 shares of company stock worth $2,717,860 over the last three months. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its holdings in shares of Surgery Partners by 110.2% during the 4th quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company’s stock worth $244,616,000 after acquiring an additional 6,057,477 shares during the last quarter. King Street Capital Management L.P. bought a new stake in shares of Surgery Partners during the 3rd quarter valued at $46,748,000. Point72 Asset Management L.P. raised its position in shares of Surgery Partners by 224.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company’s stock valued at $36,975,000 after buying an additional 1,208,639 shares in the last quarter. American Century Companies Inc. lifted its stake in Surgery Partners by 223.9% during the fourth quarter. American Century Companies Inc. now owns 1,399,756 shares of the company’s stock worth $29,633,000 after purchasing an additional 967,534 shares during the last quarter. Finally, Norges Bank acquired a new stake in Surgery Partners in the fourth quarter valued at about $15,796,000.

Surgery Partners Company Profile

Surgery Partners, Inc, together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.