Surgery Partners’ (SGRY) Buy Rating Reaffirmed at Benchmark

Surgery Partners (NASDAQ:SGRY)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a note issued to investors on Monday,Benzinga reports. They currently have a $35.00 price target on the stock. Benchmark’s price target indicates a potential upside of 74.69% from the company’s previous close.

A number of other equities analysts have also weighed in on SGRY. Macquarie cut their price objective on shares of Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Surgery Partners in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Surgery Partners has a consensus rating of “Moderate Buy” and an average price target of $34.75.

Surgery Partners Price Performance

Shares of Surgery Partners stock traded down $1.18 during trading on Monday, hitting $20.04. 140,371 shares of the company were exchanged, compared to its average volume of 1,250,625. The firm has a 50 day moving average price of $23.54 and a 200 day moving average price of $24.34. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -41.74, a P/E/G ratio of 19.21 and a beta of 2.40. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. Surgery Partners has a fifty-two week low of $19.50 and a fifty-two week high of $33.97.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $864.40 million for the quarter, compared to the consensus estimate of $828.09 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. On average, equities analysts expect that Surgery Partners will post 0.67 earnings per share for the current fiscal year.

Insider Activity

In other Surgery Partners news, insider Marissa Brittenham sold 3,156 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the sale, the insider now owns 63,408 shares in the company, valued at $1,527,498.72. This trade represents a 4.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David T. Doherty sold 6,733 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $24.02, for a total transaction of $161,726.66. Following the transaction, the chief financial officer now owns 150,868 shares in the company, valued at $3,623,849.36. This trade represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,622 shares of company stock valued at $2,717,860. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Surgery Partners

Several hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its stake in shares of Surgery Partners by 110.2% in the fourth quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company’s stock worth $244,616,000 after purchasing an additional 6,057,477 shares in the last quarter. King Street Capital Management L.P. boosted its holdings in Surgery Partners by 93.1% during the fourth quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company’s stock worth $59,276,000 after buying an additional 1,350,000 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Surgery Partners by 224.7% during the fourth quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company’s stock worth $36,975,000 after purchasing an additional 1,208,639 shares during the period. American Century Companies Inc. raised its holdings in Surgery Partners by 223.9% during the 4th quarter. American Century Companies Inc. now owns 1,399,756 shares of the company’s stock worth $29,633,000 after buying an additional 967,534 shares during the period. Finally, Norges Bank purchased a new stake in shares of Surgery Partners in the 4th quarter valued at approximately $15,796,000.

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.