Surgery Partners (NASDAQ:SGRY) Earns Outperform Rating from Macquarie

Macquarie reiterated their outperform rating on shares of Surgery Partners (NASDAQ:SGRY) in a report published on Monday, Benzinga reports. Macquarie currently has a $35.00 price target on the stock.

Several other equities research analysts also recently weighed in on SGRY. Benchmark reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Surgery Partners in a report on Monday, August 26th. UBS Group started coverage on shares of Surgery Partners in a research note on Monday, October 14th. They issued a “buy” rating and a $38.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $43.00 price objective on shares of Surgery Partners in a research note on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $49.00 target price on shares of Surgery Partners in a research report on Wednesday, August 7th. Finally, KeyCorp began coverage on Surgery Partners in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.13.

Surgery Partners Stock Performance

Shares of NASDAQ SGRY traded down $0.22 during midday trading on Monday, hitting $29.00. 16,332 shares of the company’s stock were exchanged, compared to its average volume of 921,993. Surgery Partners has a twelve month low of $22.25 and a twelve month high of $36.92. The firm has a market cap of $3.69 billion, a P/E ratio of -108.22, a PEG ratio of 2.23 and a beta of 2.76. The stock’s 50 day moving average price is $31.20 and its 200-day moving average price is $28.26. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.83 and a quick ratio of 1.69.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Surgery Partners had a positive return on equity of 2.96% and a negative net margin of 1.17%. The company had revenue of $762.10 million during the quarter, compared to analyst estimates of $735.94 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. Equities research analysts anticipate that Surgery Partners will post 0.84 EPS for the current year.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC raised its holdings in shares of Surgery Partners by 7,987.1% during the first quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock valued at $74,701,000 after acquiring an additional 2,473,282 shares during the period. Deerfield Management Company L.P. Series C lifted its holdings in shares of Surgery Partners by 47.7% in the second quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock valued at $111,986,000 after purchasing an additional 1,520,484 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Surgery Partners in the second quarter worth $29,288,000. Dimensional Fund Advisors LP grew its holdings in shares of Surgery Partners by 26.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock valued at $66,643,000 after buying an additional 589,499 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new position in Surgery Partners during the second quarter valued at $12,299,000.

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.