Surgery Partners (NASDAQ:SGRY) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated 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 target on the stock.

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

Surgery Partners Stock Performance

SGRY stock opened at $24.12 on Tuesday. Surgery Partners has a 1-year low of $19.50 and a 1-year high of $33.97. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The firm has a market cap of $3.08 billion, a PE ratio of -50.25, a P/E/G ratio of 19.21 and a beta of 2.73. The business’s 50-day moving average price is $24.24 and its two-hundred day moving average price is $25.63.

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

Insider Activity

In related news, insider Marissa Brittenham sold 3,156 shares of Surgery Partners stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the transaction, the insider now owns 63,408 shares in the company, valued at approximately $1,527,498.72. This trade represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jason Eric Evans sold 26,520 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $25.65, for a total value of $680,238.00. Following the completion of the sale, the chief executive officer now owns 560,698 shares in the company, valued at $14,381,903.70. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,622 shares of company stock worth $2,717,860 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

Several large investors have recently modified their holdings of SGRY. Point72 Asia Singapore Pte. Ltd. grew its stake in Surgery Partners by 747.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock valued at $124,000 after buying an additional 3,379 shares during the last quarter. KBC Group NV increased its position in Surgery Partners by 66.1% during the 4th quarter. KBC Group NV now owns 3,962 shares of the company’s stock worth $84,000 after buying an additional 1,577 shares during the period. State of Wyoming lifted its holdings in shares of Surgery Partners by 94.4% during the fourth quarter. State of Wyoming now owns 4,002 shares of the company’s stock worth $85,000 after buying an additional 1,943 shares in the last quarter. MeadowBrook Investment Advisors LLC boosted its position in shares of Surgery Partners by 16.6% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company’s stock valued at $218,000 after acquiring an additional 1,460 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Surgery Partners by 279.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,762 shares of the company’s stock valued at $228,000 after acquiring an additional 7,925 shares in the last quarter.

About Surgery Partners

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.