Surgery Partners (NASDAQ:SGRY) Given Overweight Rating at Cantor Fitzgerald

Surgery Partners (NASDAQ:SGRY)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a research report issued on Tuesday,Benzinga reports. They currently have a $36.00 price objective on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 76.56% from the company’s current price.

A number of other research analysts also recently commented on SGRY. Weiss Ratings reissued a “sell (d-)” rating on shares of Surgery Partners in a research report on Saturday, September 27th. Bank of America began coverage on Surgery Partners in a research note on Monday, July 28th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on Surgery Partners in a research note on Thursday, September 18th. They set a “neutral” rating and a $27.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Surgery Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Surgery Partners Price Performance

NASDAQ:SGRY opened at $20.39 on Tuesday. Surgery Partners has a 52-week low of $18.87 and a 52-week high of $33.37. The company has a market cap of $2.61 billion, a P/E ratio of -14.26 and a beta of 1.83. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.78 and a current ratio of 1.93. The stock’s 50-day simple moving average is $22.27 and its 200 day simple moving average is $22.27.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The firm had revenue of $826.20 million during the quarter, compared to the consensus estimate of $816.96 million. During the same period last year, the company earned $0.21 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Surgery Partners will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Surgery Partners news, Director Teresa Deluca sold 20,018 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $22.74, for a total value of $455,209.32. Following the transaction, the director directly owned 45,173 shares of the company’s stock, valued at $1,027,234.02. This represents a 30.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Harrison R. Bane sold 9,339 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $22.48, for a total transaction of $209,940.72. Following the transaction, the insider directly owned 117,181 shares in the company, valued at approximately $2,634,228.88. This represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Institutional Trading of Surgery Partners

Institutional investors have recently modified their holdings of the stock. Pentwater Capital Management LP lifted its position in Surgery Partners by 545.2% during the first quarter. Pentwater Capital Management LP now owns 2,742,000 shares of the company’s stock worth $65,122,000 after purchasing an additional 2,317,000 shares during the period. TIG Advisors LLC acquired a new position in shares of Surgery Partners in the first quarter valued at approximately $46,902,000. Glenview Capital Management LLC bought a new position in Surgery Partners in the 2nd quarter valued at approximately $33,995,000. King Street Capital Management L.P. raised its stake in shares of Surgery Partners by 24.5% during the second quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company’s stock valued at $138,382,000 after acquiring an additional 1,225,000 shares during the last quarter. Finally, Norges Bank bought a new position in Surgery Partners during the 2nd quarter worth $26,609,000.

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.