Macquarie Issues Pessimistic Forecast for Surgery Partners (NASDAQ:SGRY) Stock Price

Surgery Partners (NASDAQ:SGRY) had its price target reduced by Macquarie from $34.00 to $33.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s price target suggests a potential upside of 41.03% from the company’s current price.

SGRY has been the topic of a number of other reports. Royal Bank of Canada dropped their price objective on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Finally, Bank of America began coverage on Surgery Partners in a research note on Monday, December 16th. They issued a “buy” rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.63.

Surgery Partners Price Performance

Shares of NASDAQ:SGRY opened at $23.40 on Tuesday. Surgery Partners has a fifty-two week low of $19.50 and a fifty-two week high of $33.97. The business has a 50-day moving average of $23.48 and a two-hundred day moving average of $26.16. The stock has a market capitalization of $2.97 billion, a P/E ratio of -48.75, 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 current ratio of 1.80 and a quick ratio of 1.66.

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

Insider Activity at Surgery Partners

In other news, CEO Jason Eric Evans sold 26,520 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $25.65, for a total value of $680,238.00. Following the sale, the chief executive officer now directly owns 560,698 shares in the company, valued at approximately $14,381,903.70. This represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO David T. Doherty sold 13,641 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $25.61, for a total value of $349,346.01. Following the completion of the sale, the chief financial officer now owns 108,862 shares in the company, valued at approximately $2,787,955.82. This represents a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,733 shares of company stock worth $2,480,106 over the last three months. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

Several large investors have recently modified their holdings of SGRY. KBC Group NV grew its stake in shares of Surgery Partners by 31.8% in the 3rd quarter. KBC Group NV now owns 2,385 shares of the company’s stock valued at $77,000 after purchasing an additional 576 shares during the period. State of Wyoming boosted its holdings in shares of Surgery Partners by 94.4% in the 4th quarter. State of Wyoming now owns 4,002 shares of the company’s stock worth $85,000 after acquiring an additional 1,943 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Surgery Partners by 12.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company’s stock worth $91,000 after acquiring an additional 465 shares in the last quarter. MeadowBrook Investment Advisors LLC boosted its holdings in shares of Surgery Partners by 16.6% in the 4th quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company’s stock worth $218,000 after acquiring an additional 1,460 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Surgery Partners by 279.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,762 shares of the company’s stock worth $228,000 after acquiring an additional 7,925 shares in the last quarter.

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.