Surgery Partners, Inc. (NASDAQ:SGRY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have been given an average rating of “Moderate Buy” by the twelve analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $22.00.

A number of analysts recently commented on the company. UBS Group reaffirmed a “buy” rating on shares of Surgery Partners in a research report on Wednesday, March 11th. US Capital Advisors set a $21.00 target price on Surgery Partners in a research report on Wednesday, March 11th. Royal Bank Of Canada decreased their target price on Surgery Partners from $31.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Barclays decreased their target price on Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Finally, Jefferies Financial Group set a $15.00 price objective on Surgery Partners in a report on Monday, April 20th.

Surgery Partners Stock Performance

Shares of Surgery Partners stock opened at $14.20 on Tuesday. Surgery Partners has a one year low of $11.41 and a one year high of $24.18. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -22.90 and a beta of 1.99. The business has a 50-day simple moving average of $13.39 and a 200 day simple moving average of $15.65. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.87 and a quick ratio of 1.71.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Monday, March 2nd. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.19). Surgery Partners had a negative net margin of 2.35% and a positive return on equity of 1.28%. The firm had revenue of $885.00 million during the quarter, compared to the consensus estimate of $866.54 million. During the same period in the previous year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts anticipate that Surgery Partners will post 0.09 earnings per share for the current fiscal year.

Surgery Partners announced that its Board of Directors has approved a share repurchase program on Thursday, February 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 9.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other Surgery Partners news, CFO David T. Doherty sold 8,867 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $12.50, for a total transaction of $110,837.50. Following the completion of the sale, the chief financial officer directly owned 221,679 shares of the company’s stock, valued at approximately $2,770,987.50. The trade was a 3.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Marissa Brittenham sold 3,657 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $12.54, for a total value of $45,858.78. Following the sale, the insider directly owned 94,196 shares of the company’s stock, valued at $1,181,217.84. This represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 96,896 shares of company stock worth $1,284,058. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Surgery Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its holdings in Surgery Partners by 313.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after purchasing an additional 930 shares in the last quarter. Fifth Third Bancorp increased its holdings in Surgery Partners by 5,324.0% during the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after purchasing an additional 3,993 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Surgery Partners by 45,640.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after purchasing an additional 2,282 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Surgery Partners by 128.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock worth $58,000 after purchasing an additional 1,519 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Surgery Partners during the 3rd quarter worth approximately $121,000.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.