Surgery Partners (NASDAQ:SGRY) Earns “Buy” Rating from Benchmark

Benchmark reissued their buy rating on shares of Surgery Partners (NASDAQ:SGRY) in a research report released on Wednesday morning, Benzinga reports. The firm currently has a $50.00 target price on the stock.

Several other research analysts have also issued reports on the company. Cantor Fitzgerald reissued an overweight rating and issued a $43.00 target price on shares of Surgery Partners in a research report on Wednesday, April 10th. Barclays began coverage on Surgery Partners in a research report on Wednesday, March 6th. They issued an equal weight rating and a $35.00 target price for the company. Royal Bank of Canada reaffirmed an outperform rating and set a $49.00 price objective on shares of Surgery Partners in a research report on Thursday, February 29th. StockNews.com raised Surgery Partners from a sell rating to a hold rating in a research report on Thursday, March 21st. Finally, Citigroup reduced their price objective on Surgery Partners from $43.00 to $42.00 and set a buy rating for the company in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $43.63.

Surgery Partners Trading Down 1.9 %

Shares of SGRY stock opened at $24.53 on Wednesday. The stock has a market capitalization of $3.12 billion, a PE ratio of -245.30, a P/E/G ratio of 2.25 and a beta of 2.75. Surgery Partners has a 1-year low of $22.05 and a 1-year high of $45.79. The business has a 50-day moving average of $27.63 and a 200 day moving average of $29.73. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.71 and a quick ratio of 1.57.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Monday, February 26th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. Surgery Partners had a positive return on equity of 3.65% and a negative net margin of 0.43%. The business had revenue of $735.40 million during the quarter, compared to analysts’ expectations of $741.93 million. During the same quarter last year, the business posted $0.22 EPS. The business’s revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Surgery Partners will post 0.78 earnings per share for the current year.

Insider Transactions at Surgery Partners

In related news, CEO Jason Eric Evans sold 4,840 shares of Surgery Partners stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $29.71, for a total transaction of $143,796.40. Following the transaction, the chief executive officer now directly owns 459,670 shares in the company, valued at $13,656,795.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Surgery Partners news, CEO Jason Eric Evans sold 4,840 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.71, for a total transaction of $143,796.40. Following the completion of the sale, the chief executive officer now owns 459,670 shares of the company’s stock, valued at $13,656,795.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David T. Doherty sold 1,020 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $34.93, for a total value of $35,628.60. Following the sale, the chief financial officer now directly owns 74,209 shares of the company’s stock, valued at approximately $2,592,120.37. The disclosure for this sale can be found here. Insiders have sold a total of 14,831 shares of company stock worth $482,609 in the last ninety days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Surgery Partners by 3.7% in the fourth quarter. Wellington Management Group LLP now owns 8,318,176 shares of the company’s stock worth $266,098,000 after acquiring an additional 295,476 shares during the period. Vanguard Group Inc. boosted its stake in shares of Surgery Partners by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 7,417,609 shares of the company’s stock worth $237,289,000 after acquiring an additional 698,845 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Surgery Partners by 4.7% in the fourth quarter. Clearbridge Investments LLC now owns 5,525,671 shares of the company’s stock worth $176,766,000 after acquiring an additional 247,762 shares during the period. Invesco Ltd. boosted its stake in shares of Surgery Partners by 9.3% in the third quarter. Invesco Ltd. now owns 3,604,357 shares of the company’s stock worth $105,427,000 after acquiring an additional 305,216 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Surgery Partners by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,840,212 shares of the company’s stock worth $58,870,000 after acquiring an additional 149,146 shares during the period.

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.