Surgery Partners (NASDAQ:SGRY) Earns “Outperform” Rating from Macquarie

Surgery Partners (NASDAQ:SGRY)‘s stock had its “outperform” rating reaffirmed by stock analysts at Macquarie in a report issued on Tuesday,Benzinga reports. They currently have a $34.00 price objective on the stock. Macquarie’s price target indicates a potential upside of 51.04% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on SGRY. Citigroup dropped their price target on Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $50.00 price objective on shares of Surgery Partners in a research report on Monday, August 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $43.00 price objective on shares of Surgery Partners in a research note on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $49.00 price target on shares of Surgery Partners in a research note on Wednesday, August 7th. Finally, StockNews.com lowered Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.71.

Surgery Partners Stock Performance

Shares of NASDAQ SGRY opened at $22.51 on Tuesday. The company’s fifty day moving average price is $30.31 and its 200 day moving average price is $28.45. The company has a market capitalization of $2.86 billion, a PE ratio of -45.81, a price-to-earnings-growth ratio of 16.86 and a beta of 2.76. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. Surgery Partners has a 1 year low of $21.36 and a 1 year high of $36.92.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The firm had revenue of $770.40 million during the quarter, compared to analysts’ expectations of $768.99 million. During the same quarter last year, the business earned $0.15 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. On average, research analysts predict that Surgery Partners will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System increased its stake in shares of Surgery Partners by 1.9% during the second quarter. Arizona State Retirement System now owns 19,494 shares of the company’s stock worth $464,000 after purchasing an additional 359 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Surgery Partners by 3.0% in the 3rd quarter. Natixis Advisors LLC now owns 12,828 shares of the company’s stock worth $414,000 after acquiring an additional 376 shares during the last quarter. KBC Group NV lifted its holdings in Surgery Partners by 31.8% during the 3rd quarter. KBC Group NV now owns 2,385 shares of the company’s stock worth $77,000 after buying an additional 576 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Surgery Partners by 3.4% during the 2nd quarter. Mackenzie Financial Corp now owns 19,999 shares of the company’s stock worth $476,000 after buying an additional 662 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Surgery Partners by 7.8% in the 1st quarter. ProShare Advisors LLC now owns 13,588 shares of the company’s stock valued at $405,000 after purchasing an additional 986 shares during the last quarter.

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.