Surgery Partners (NASDAQ:SGRY) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Surgery Partners (NASDAQ:SGRY) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $35.00 price target on the stock.

A number of other brokerages have also recently weighed in on SGRY. Macquarie dropped their price target on Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price objective on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Finally, Bank of America assumed coverage on shares of Surgery Partners in a research report on Monday, December 16th. They set a “buy” rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Surgery Partners has an average rating of “Moderate Buy” and an average price target of $36.63.

Surgery Partners Stock Performance

Shares of SGRY opened at $24.19 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. Surgery Partners has a 52-week low of $19.50 and a 52-week high of $33.97. The company has a 50-day simple moving average of $24.08 and a 200-day simple moving average of $25.65. The company has a market capitalization of $3.09 billion, a PE ratio of -50.40, a P/E/G ratio of 19.21 and a beta of 2.73.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Monday, March 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $864.40 million during the quarter, compared to analysts’ expectations of $828.09 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. Equities research analysts predict that Surgery Partners will post 0.67 earnings per share for the current fiscal year.

Insider Transactions at Surgery Partners

In other news, insider Marissa Brittenham sold 3,156 shares of Surgery Partners stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $24.09, for a total value of $76,028.04. Following the transaction, the insider now directly owns 63,408 shares of the company’s stock, valued at $1,527,498.72. The trade was a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David T. Doherty sold 13,641 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $25.61, for a total transaction of $349,346.01. Following the sale, the chief financial officer now directly owns 108,862 shares of the company’s stock, valued at approximately $2,787,955.82. This trade represents a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,622 shares of company stock worth $2,717,860 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds have recently bought and sold shares of SGRY. FMR LLC grew its position in shares of Surgery Partners by 3.1% during the 3rd quarter. FMR LLC now owns 18,311,867 shares of the company’s stock valued at $590,375,000 after buying an additional 546,869 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Surgery Partners by 110.2% during the fourth quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company’s stock valued at $244,616,000 after purchasing an additional 6,057,477 shares during the period. Vanguard Group Inc. raised its position in shares of Surgery Partners by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 7,618,404 shares of the company’s stock worth $161,282,000 after buying an additional 172,271 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Surgery Partners by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,577,861 shares of the company’s stock worth $75,739,000 after purchasing an additional 563,812 shares during the period. Finally, King Street Capital Management L.P. boosted its stake in Surgery Partners by 93.1% during the fourth quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company’s stock valued at $59,276,000 after buying an additional 1,350,000 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.