Surgery Partners’ (SGRY) “Buy” Rating Reiterated at TD Cowen

TD Cowen reiterated their buy rating on shares of Surgery Partners (NASDAQ:SGRY) in a report released on Friday morning,Benzinga reports. They currently have a $19.00 target price on the stock.

A number of other brokerages have also recently issued reports on SGRY. Royal Bank Of Canada reduced their price objective on Surgery Partners from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a research note on Friday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 target price on shares of Surgery Partners in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price target on Surgery Partners from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Finally, Zacks Research downgraded Surgery Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Surgery Partners Stock Performance

NASDAQ SGRY opened at $13.25 on Friday. The firm has a 50-day moving average of $14.82 and a 200-day moving average of $14.24. 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 stock has a market cap of $1.73 billion, a PE ratio of -18.93, a P/E/G ratio of 3.64 and a beta of 1.92. Surgery Partners has a 52-week low of $11.41 and a 52-week high of $23.44.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. Surgery Partners’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. On average, sell-side analysts anticipate that Surgery Partners will post 0.25 EPS for the current year.

Insider Transactions at Surgery Partners

In other news, Director Teresa DeLuca acquired 10,000 shares of Surgery Partners stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the purchase, the director directly owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. This represents a 17.59% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by insiders.

Institutional Trading of Surgery Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Irenic Capital Management LP increased its stake in Surgery Partners by 740.2% in the first quarter. Irenic Capital Management LP now owns 711,000 shares of the company’s stock valued at $8,475,000 after acquiring an additional 626,380 shares during the last quarter. Corient Private Wealth LP bought a new stake in Surgery Partners during the second quarter worth $1,211,000. Varde Management L.P. lifted its stake in Surgery Partners by 32.8% during the second quarter. Varde Management L.P. now owns 1,003,447 shares of the company’s stock worth $16,858,000 after purchasing an additional 248,009 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of Surgery Partners in the 2nd quarter valued at $233,220,000. Finally, Pentwater Capital Management LP acquired a new stake in shares of Surgery Partners in the 2nd quarter valued at $195,384,000.

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.