JPMorgan Chase & Co. Cuts Surgery Partners (NASDAQ:SGRY) Price Target to $28.00

Surgery Partners (NASDAQ:SGRY) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $38.00 to $28.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 19.30% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a report on Friday, October 4th. Royal Bank of Canada reduced their price objective on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. StockNews.com lowered shares of Surgery Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Macquarie reiterated an “outperform” rating and set a $34.00 price target on shares of Surgery Partners in a research note on Tuesday, November 19th. Finally, Benchmark reissued a “buy” rating and issued a $50.00 price objective on shares of Surgery Partners in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.38.

Surgery Partners Trading Down 1.4 %

Shares of NASDAQ:SGRY traded down $0.34 during mid-day trading on Tuesday, hitting $23.47. The company had a trading volume of 142,336 shares, compared to its average volume of 970,081. The company has a market capitalization of $2.98 billion, a PE ratio of -48.90, a price-to-earnings-growth ratio of 19.85 and a beta of 2.58. Surgery Partners has a one year low of $21.36 and a one year high of $36.92. The firm has a fifty day moving average price of $28.81 and a 200 day moving average price of $28.23. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The firm had revenue of $770.40 million during the quarter, compared to the consensus estimate of $768.99 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, research analysts forecast that Surgery Partners will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SGRY. DekaBank Deutsche Girozentrale boosted its holdings in shares of Surgery Partners by 102.0% in the 1st 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. Wesbanco Bank Inc. increased its stake in shares of Surgery Partners by 53.4% during the 2nd quarter. Wesbanco Bank Inc. now owns 39,363 shares of the company’s stock worth $936,000 after purchasing an additional 13,700 shares during the last quarter. SG Americas Securities LLC lifted its stake in Surgery Partners by 190.0% in the second quarter. SG Americas Securities LLC now owns 17,276 shares of the company’s stock valued at $411,000 after purchasing an additional 11,318 shares during the last quarter. Raymond James & Associates grew its holdings in Surgery Partners by 6.8% during the second quarter. Raymond James & Associates now owns 68,872 shares of the company’s stock valued at $1,638,000 after purchasing an additional 4,370 shares during the period. Finally, MeadowBrook Investment Advisors LLC grew its holdings in Surgery Partners by 15.9% during the second quarter. MeadowBrook Investment Advisors LLC now owns 12,320 shares of the company’s stock valued at $293,000 after purchasing an additional 1,690 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.