Analysts Set Surgery Partners, Inc. (NASDAQ:SGRY) Price Target at $40.14

Surgery Partners, Inc. (NASDAQ:SGRY) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $40.14.

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $43.00 price target on shares of Surgery Partners in a research report on Tuesday, July 9th. Macquarie began coverage on shares of Surgery Partners in a research report on Friday, June 28th. They issued an “outperform” rating and a $31.00 price objective on the stock. Citigroup decreased their price objective on shares of Surgery Partners from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Benchmark restated a “buy” rating and issued a $50.00 price objective on shares of Surgery Partners in a research report on Wednesday, May 1st.

Insiders Place Their Bets

In other Surgery Partners 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 value of $165,900.00. Following the completion of the sale, the insider now owns 72,338 shares of the company’s stock, valued at $2,000,145.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by insiders.

Institutional Trading of Surgery Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in shares of Surgery Partners by 54.1% in the fourth quarter. BNP Paribas Financial Markets now owns 315,083 shares of the company’s stock worth $10,080,000 after purchasing an additional 110,664 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Surgery Partners by 16.5% in the first quarter. First Eagle Investment Management LLC now owns 339,474 shares of the company’s stock worth $10,127,000 after purchasing an additional 48,100 shares during the last quarter. Iron Triangle Partners LP bought a new position in shares of Surgery Partners in the fourth quarter worth approximately $33,415,000. Norges Bank bought a new position in shares of Surgery Partners in the fourth quarter worth approximately $25,765,000. Finally, American Century Companies Inc. grew its holdings in shares of Surgery Partners by 5.7% in the third quarter. American Century Companies Inc. now owns 888,171 shares of the company’s stock worth $25,979,000 after purchasing an additional 47,935 shares during the last quarter.

Surgery Partners Trading Down 0.2 %

Shares of SGRY opened at $29.05 on Wednesday. The business’s 50-day moving average price is $25.44 and its 200-day moving average price is $28.13. Surgery Partners has a twelve month low of $22.05 and a twelve month high of $41.87. The stock has a market cap of $3.69 billion, a PE ratio of 33.78, a P/E/G ratio of 2.20 and a beta of 2.78. The company has a quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.92.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Surgery Partners had a return on equity of 3.65% and a net margin of 0.02%. The firm had revenue of $717.40 million for the quarter, compared to analysts’ expectations of $707.66 million. On average, equities analysts forecast that Surgery Partners will post 0.88 EPS for the current fiscal year.

About Surgery Partners

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.