Surgery Partners (NASDAQ:SGRY) Stock Rating Reaffirmed as “Outperform” by Royal Bank Of Canada

Surgery Partners (NASDAQ:SGRY)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank Of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $19.00 target price on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 38.08% from the stock’s previous close.

A number of other brokerages have also weighed in on SGRY. Cantor Fitzgerald restated an “overweight” rating and issued a $18.00 target price on shares of Surgery Partners in a research note on Tuesday, August 11th. Benchmark reiterated a “buy” rating on shares of Surgery Partners in a report on Tuesday, August 11th. JPMorgan Chase & Co. raised their price target on Surgery Partners from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, September 14th. TD Cowen reiterated a “buy” rating and issued a $19.00 price target on shares of Surgery Partners in a report on Friday, September 18th. Finally, Zacks Research cut Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Surgery Partners presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Surgery Partners Stock Performance

Shares of NASDAQ:SGRY opened at $13.76 on Wednesday. Surgery Partners has a twelve month low of $11.41 and a twelve month high of $23.44. The firm has a market cap of $1.80 billion, a PE ratio of -19.89, a price-to-earnings-growth ratio of 4.46 and a beta of 1.92. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95. The business has a fifty day moving average of $14.58 and a 200-day moving average of $14.30.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The company had revenue of $848.90 million during the quarter, compared to analyst estimates of $830.03 million. During the same period last year, the company posted $0.17 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Surgery Partners will post 0.25 EPS for the current fiscal year.

Insider Activity at Surgery Partners

In other Surgery Partners news, Director Teresa DeLuca purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were bought at an average price of $14.35 per share, with a total value of $143,500.00. Following the completion of the transaction, the director directly owned 66,843 shares in the company, valued at $959,197.05. This trade represents a 17.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Surgery Partners

A number of hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new stake in Surgery Partners in the 2nd quarter valued at approximately $308,000. Varde Management L.P. raised its position in Surgery Partners by 32.8% in the 2nd quarter. Varde Management L.P. now owns 1,003,447 shares of the company’s stock valued at $16,858,000 after buying an additional 248,009 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in Surgery Partners by 19.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 166,411 shares of the company’s stock valued at $2,762,000 after buying an additional 27,559 shares during the last quarter. Penn Capital Management Company LLC acquired a new stake in Surgery Partners in the 2nd quarter valued at approximately $2,941,000. Finally, Hsbc Holdings PLC raised its position in Surgery Partners by 54.5% in the 2nd quarter. Hsbc Holdings PLC now owns 2,958,912 shares of the company’s stock valued at $48,912,000 after buying an additional 1,043,244 shares during the last quarter.

About Surgery Partners

Surgery Partners, Inc (NASDAQ: SGRY) is a healthcare services company that owns and operates a network of ambulatory surgery centers and surgical hospitals in the United States. The company works with physicians and health systems to provide outpatient and same-day surgical care in settings outside traditional hospital facilities.

Its services cover a range of specialties, including orthopedics, pain management, gastroenterology, ophthalmology, gynecology, urology and other procedural areas.