Surgery Partners, Inc. (NASDAQ:SGRY) Given Consensus Rating of “Moderate Buy” by Brokerages

Surgery Partners, Inc. (NASDAQ:SGRY) has earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. One research 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 brokerages that have covered the stock in the last year is $39.86.

SGRY has been the subject of a number of recent research reports. Citigroup cut their price objective on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $43.00 price target on shares of Surgery Partners in a research report on Monday, August 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of Surgery Partners in a report on Wednesday, August 7th. Macquarie initiated coverage on Surgery Partners in a report on Friday, June 28th. They set an “outperform” rating and a $31.00 target price on the stock. Finally, Benchmark restated a “buy” rating and issued a $50.00 price target on shares of Surgery Partners in a research report on Monday, August 26th.

Surgery Partners Price Performance

Surgery Partners stock opened at $31.92 on Monday. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 45.94, a PEG ratio of 2.50 and a beta of 2.76. The company has a current ratio of 1.83, a quick ratio of 1.69 and a debt-to-equity ratio of 0.96. Surgery Partners has a 12 month low of $22.05 and a 12 month high of $36.92. The stock’s 50 day moving average is $30.62 and its 200-day moving average is $27.64.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $762.10 million for the quarter, compared to analysts’ expectations of $735.94 million. Surgery Partners had a positive return on equity of 2.96% and a negative net margin of 1.17%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. Equities research analysts expect that Surgery Partners will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its stake in shares of Surgery Partners by 7,987.1% in the first quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock worth $74,701,000 after acquiring an additional 2,473,282 shares during the period. Deerfield Management Company L.P. Series C lifted its stake in shares of Surgery Partners by 47.7% in the second quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock worth $111,986,000 after acquiring an additional 1,520,484 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Surgery Partners in the second quarter worth approximately $29,288,000. Iron Triangle Partners LP acquired a new position in shares of Surgery Partners in the fourth quarter worth approximately $33,415,000. Finally, Norges Bank acquired a new position in shares of Surgery Partners in the fourth quarter worth approximately $25,765,000.

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.