JPMorgan Chase & Co. Cuts Surgery Partners (NASDAQ:SGRY) Price Target to $20.00

Surgery Partners (NASDAQ:SGRY) had its price objective decreased by JPMorgan Chase & Co. from $27.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 19.44% from the stock’s previous close.

Several other research firms also recently commented on SGRY. UBS Group dropped their target price on Surgery Partners from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Royal Bank Of Canada dropped their price target on shares of Surgery Partners from $35.00 to $31.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Cantor Fitzgerald restated an “overweight” rating and set a $36.00 price objective on shares of Surgery Partners in a research note on Tuesday, October 7th. Mizuho decreased their target price on shares of Surgery Partners from $28.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, November 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a report on Monday, November 17th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Surgery Partners has a consensus rating of “Moderate Buy” and a consensus target price of $27.44.

Surgery Partners Trading Up 5.7%

NASDAQ:SGRY traded up $0.91 during mid-day trading on Monday, reaching $16.75. 449,355 shares of the company’s stock traded hands, compared to its average volume of 1,479,197. The company has a 50 day moving average price of $20.29 and a 200-day moving average price of $21.69. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -11.70 and a beta of 1.85. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78. Surgery Partners has a 12-month low of $14.94 and a 12-month high of $26.16.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $821.50 million during the quarter, compared to the consensus estimate of $823.55 million. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. Surgery Partners has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Surgery Partners will post 0.67 earnings per share for the current year.

Insider Activity

In other news, insider Harrison R. Bane sold 9,339 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $22.48, for a total value of $209,940.72. Following the transaction, the insider owned 117,181 shares in the company, valued at $2,634,228.88. This represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pentwater Capital Management LP grew its position in shares of Surgery Partners by 66.9% during the 3rd quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock valued at $252,777,000 after acquiring an additional 4,681,000 shares during the period. Vanguard Group Inc. lifted its position in Surgery Partners by 5.9% during the third quarter. Vanguard Group Inc. now owns 7,614,514 shares of the company’s stock valued at $164,778,000 after purchasing an additional 424,518 shares in the last quarter. Wellington Management Group LLP grew its holdings in Surgery Partners by 19.7% during the first quarter. Wellington Management Group LLP now owns 7,091,756 shares of the company’s stock valued at $168,429,000 after purchasing an additional 1,165,667 shares during the period. King Street Capital Management L.P. increased its position in Surgery Partners by 24.5% in the second quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company’s stock worth $138,382,000 after buying an additional 1,225,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Surgery Partners by 25.5% in the third quarter. Dimensional Fund Advisors LP now owns 4,860,215 shares of the company’s stock worth $105,177,000 after buying an additional 988,956 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.