Surgery Partners (NASDAQ:SGRY) Given New $36.00 Price Target at Citigroup

Surgery Partners (NASDAQ:SGRY) had its target price lowered by Citigroup from $38.00 to $36.00 in a report issued on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada reiterated an outperform rating and issued a $49.00 price objective on shares of Surgery Partners in a research note on Wednesday. Macquarie began coverage on shares of Surgery Partners in a research note on Friday, June 28th. They issued an outperform rating and a $31.00 price objective for the company. Cantor Fitzgerald reissued an overweight rating and issued a $43.00 target price on shares of Surgery Partners in a report on Tuesday, July 9th. Finally, Benchmark reissued a buy rating and issued a $50.00 target price on shares of Surgery Partners in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $39.86.

Surgery Partners Stock Performance

SGRY stock traded up $1.27 during trading hours on Wednesday, reaching $29.88. The stock had a trading volume of 273,985 shares, compared to its average volume of 988,745. The stock has a market capitalization of $3.80 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 2.21 and a beta of 2.78. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.71 and a quick ratio of 1.56. The stock has a 50-day simple moving average of $26.49 and a 200 day simple moving average of $27.93. Surgery Partners has a fifty-two week low of $22.05 and a fifty-two week high of $37.83.

Surgery Partners (NASDAQ:SGRY) last posted its 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. The company had revenue of $762.10 million during the quarter, compared to analysts’ expectations of $735.94 million. Surgery Partners had a net margin of 0.02% and a return on equity of 3.65%. Surgery Partners’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. Analysts predict that Surgery Partners will post 0.88 EPS for the current fiscal year.

Insider Activity at Surgery Partners

In other Surgery Partners news, insider Bradley R. Owens sold 6,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $27.65, for a total transaction of $165,900.00. Following the completion of the sale, the insider now owns 72,338 shares in the company, valued at approximately $2,000,145.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Surgery Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio purchased a new stake in shares of Surgery Partners in the fourth quarter valued at about $51,000. DekaBank Deutsche Girozentrale increased its holdings in Surgery Partners by 102.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock worth $80,000 after buying an additional 1,375 shares during the last quarter. Mesirow Institutional Investment Management Inc. increased its holdings in Surgery Partners by 12.4% during the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 3,388 shares of the company’s stock worth $108,000 after buying an additional 373 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Surgery Partners during the fourth quarter worth about $145,000. Finally, EntryPoint Capital LLC increased its holdings in Surgery Partners by 257.1% during the first quarter. EntryPoint Capital LLC now owns 6,399 shares of the company’s stock worth $191,000 after buying an additional 4,607 shares during the last quarter.

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.