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

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

A number of other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald reaffirmed an overweight rating and issued a $43.00 price objective on shares of Surgery Partners in a research note on Wednesday, April 10th. Benchmark reiterated a buy rating and issued a $50.00 price target on shares of Surgery Partners in a research note on Wednesday, May 1st. Barclays initiated coverage on Surgery Partners in a research report on Wednesday, March 6th. They set an equal weight rating and a $35.00 price objective for the company. StockNews.com raised shares of Surgery Partners from a sell rating to a hold rating in a research report on Thursday, March 21st. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $49.00 price target on shares of Surgery Partners in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $41.38.

Surgery Partners Stock Performance

Shares of Surgery Partners stock opened at $23.79 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.92. The firm has a market cap of $3.02 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.84 and a beta of 2.73. The business’s fifty day simple moving average is $25.45 and its 200-day simple moving average is $28.90. Surgery Partners has a 52 week low of $22.05 and a 52 week high of $45.79.

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

Insiders Place Their Bets

In other news, insider Danielle Burkhalter sold 6,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $26.39, for a total value of $158,340.00. Following the completion of the sale, the insider now owns 30,354 shares in the company, valued at approximately $801,042.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in Surgery Partners by 54.1% in the fourth quarter. BNP Paribas Financial Markets now owns 315,083 shares of the company’s stock valued at $10,080,000 after acquiring an additional 110,664 shares during the period. Wellington Management Group LLP boosted its holdings in Surgery Partners by 23.2% during the third quarter. Wellington Management Group LLP now owns 8,022,700 shares of the company’s stock worth $234,664,000 after buying an additional 1,511,396 shares in the last quarter. Iron Triangle Partners LP acquired a new position in Surgery Partners during the fourth quarter worth about $33,415,000. Norges Bank purchased a new position in Surgery Partners in the fourth quarter valued at about $25,765,000. Finally, American Century Companies Inc. lifted its position in shares of Surgery Partners by 5.7% during the 3rd quarter. American Century Companies Inc. now owns 888,171 shares of the company’s stock valued at $25,979,000 after acquiring an additional 47,935 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.