Surgery Partners’ (SGRY) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Surgery Partners (NASDAQ:SGRY) in a report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $49.00 price target on the stock.

A number of other equities research analysts also recently commented on SGRY. Citigroup cut their target price on shares of Surgery Partners from $42.00 to $38.00 and set a buy rating for the company in a research report on Wednesday, May 8th. Macquarie started coverage on shares of Surgery Partners in a research report on Friday, June 28th. They issued an outperform rating and a $31.00 target price for the company. Benchmark reaffirmed a buy rating and issued a $50.00 target price on shares of Surgery Partners in a research report on Wednesday, May 1st. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $43.00 target price on shares of Surgery Partners in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Surgery Partners currently has an average rating of Moderate Buy and an average price target of $39.86.

Surgery Partners Stock Down 0.8 %

Shares of SGRY traded down $0.24 on Wednesday, hitting $29.74. 778,445 shares of the stock traded hands, compared to its average volume of 989,770. The company has a market capitalization of $3.78 billion, a PE ratio of 41.75, a P/E/G ratio of 2.25 and a beta of 2.78. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.56 and a current ratio of 1.71. The business has a 50 day simple moving average of $26.58 and a 200 day simple moving average of $27.93. Surgery Partners has a one year low of $22.05 and a one year high of $37.83.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. Surgery Partners had a negative net margin of 1.17% and a positive return on equity of 3.00%. The company had revenue of $762.10 million during the quarter, compared to the consensus estimate of $735.94 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that Surgery Partners will post 0.88 earnings per share for the current fiscal year.

Insider Transactions at Surgery Partners

In other news, insider Bradley R. Owens sold 6,000 shares of Surgery Partners 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 transaction, the insider now owns 72,338 shares in the company, valued at approximately $2,000,145.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SGRY. Janus Henderson Group PLC lifted its stake in shares of Surgery Partners by 7,987.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock valued at $74,701,000 after buying an additional 2,473,282 shares in the last quarter. Iron Triangle Partners LP purchased a new position in shares of Surgery Partners during the 4th quarter valued at $33,415,000. Norges Bank purchased a new position in shares of Surgery Partners during the 4th quarter valued at $25,765,000. Vanguard Group Inc. lifted its stake in shares of Surgery Partners by 10.4% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Surgery Partners by 26.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock valued at $66,643,000 after buying an additional 589,499 shares in 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.