Surgery Partners (NASDAQ:SGRY) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of Surgery Partners (NASDAQ:SGRY) in a research note released on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $30.00 price target on the stock.

Several other research firms also recently issued reports on SGRY. KeyCorp started coverage on shares of Surgery Partners in a research note on Friday, October 11th. They set a “sector weight” rating for the company. UBS Group assumed coverage on Surgery Partners in a research report on Monday, October 14th. They set a “buy” rating and a $38.00 target price for the company. JPMorgan Chase & Co. reduced their price target on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. Macquarie restated an “outperform” rating and set a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada cut their price objective on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.56.

Surgery Partners Trading Up 6.1 %

Shares of SGRY stock opened at $21.60 on Monday. Surgery Partners has a twelve month low of $19.90 and a twelve month high of $35.29. The stock’s fifty day simple moving average is $26.93 and its 200 day simple moving average is $27.98. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $2.75 billion, a P/E ratio of -45.00, a P/E/G ratio of 17.40 and a beta of 2.58.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The firm had revenue of $770.40 million for the quarter, compared to analyst estimates of $768.99 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 earnings per share. As a group, sell-side analysts predict that Surgery Partners will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Surgery Partners

Several institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in shares of Surgery Partners by 19.5% in the 3rd quarter. Franklin Resources Inc. now owns 21,324 shares of the company’s stock valued at $677,000 after acquiring an additional 3,487 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Surgery Partners in the third quarter valued at $626,000. King Street Capital Management L.P. bought a new stake in Surgery Partners in the third quarter valued at $46,748,000. Geode Capital Management LLC raised its holdings in shares of Surgery Partners by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company’s stock valued at $60,117,000 after purchasing an additional 42,897 shares during the period. Finally, MidWestOne Financial Group Inc. boosted its position in shares of Surgery Partners by 3.8% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 73,502 shares of the company’s stock worth $2,370,000 after purchasing an additional 2,716 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.