Surgery Partners (NASDAQ:SGRY) Receives New Coverage from Analysts at Macquarie

Macquarie assumed coverage on shares of Surgery Partners (NASDAQ:SGRY) in a report released on Friday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $31.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Surgery Partners from a sell rating to a hold rating in a research report on Thursday, March 21st. Citigroup reduced their price target on shares of Surgery Partners from $42.00 to $38.00 and set a buy rating for the company in a report on Wednesday, May 8th. Royal Bank of Canada restated an outperform rating and set a $49.00 price objective on shares of Surgery Partners in a report on Thursday, February 29th. Barclays started coverage on shares of Surgery Partners in a research note on Wednesday, March 6th. They issued an equal weight rating and a $35.00 target price for the company. Finally, Benchmark reissued a buy rating and issued a $50.00 price target on shares of Surgery Partners in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $41.38.

Surgery Partners Stock Down 2.2 %

Shares of NASDAQ SGRY opened at $23.79 on Friday. The firm’s 50-day moving average is $25.45 and its 200-day moving average is $28.84. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 0.92. Surgery Partners has a 1 year low of $22.05 and a 1 year high of $45.79. The firm has a market capitalization of $3.02 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.80 and a beta of 2.73.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Surgery Partners had a return on equity of 3.65% and a net margin of 0.02%. The business had revenue of $717.40 million during the quarter, compared to analysts’ expectations of $707.66 million. Equities analysts expect that Surgery Partners will post 0.88 EPS for the current year.

Insider Activity at Surgery Partners

In other news, insider Bradley R. Owens sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $27.65, for a total transaction of $165,900.00. Following 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 SEC, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SGRY. Janus Henderson Group PLC increased its position in Surgery Partners by 7,987.1% during the first quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock worth $74,701,000 after buying an additional 2,473,282 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Surgery Partners by 23.2% in the third quarter. Wellington Management Group LLP now owns 8,022,700 shares of the company’s stock valued at $234,664,000 after purchasing an additional 1,511,396 shares during the last quarter. Iron Triangle Partners LP bought a new position in shares of Surgery Partners in the fourth quarter valued at about $33,415,000. Norges Bank bought a new stake in shares of Surgery Partners during the 4th quarter worth about $25,765,000. Finally, Vanguard Group Inc. grew its stake in Surgery Partners by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 7,417,609 shares of the company’s stock valued at $237,289,000 after buying an additional 698,845 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.