JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Surgery Partners (NASDAQ:SGRY) Stock

Key Points

• JPMorgan raised Surgery Partners’ price target from $14 to $15 while maintaining a neutral rating, implying approximately 4.31% upside from the prior close.
• Analyst sentiment is more positive overall: the stock has a consensus “Moderate Buy” rating and an average price target of $19, based on seven Buy, three Hold, and one Sell rating.
• Surgery Partners exceeded quarterly expectations, reporting $0.10 in earnings per share versus a $0.06 consensus estimate and $848.9 million in revenue, up 2.7% year over year.

Surgery Partners (NASDAQ:SGRY - Get Free Report) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $14.00 to $15.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 4.31% from the company's previous close.

Other equities analysts have also recently issued research reports about the stock. Raymond James Financial set a $18.00 price target on shares of Surgery Partners in a research note on Tuesday, August 11th. Royal Bank Of Canada reduced their target price on Surgery Partners from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Surgery Partners in a research note on Friday, August 21st. Benchmark reiterated a "buy" rating on shares of Surgery Partners in a research report on Tuesday, August 11th. Finally, TD Cowen boosted their target price on Surgery Partners from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $14.38 on Monday. The business's 50-day moving average price is $15.13 and its two-hundred day moving average price is $14.31. Surgery Partners has a twelve month low of $11.41 and a twelve month high of $23.44. The stock has a market cap of $1.88 billion, a P/E ratio of -20.54, a PEG ratio of 4.43 and a beta of 1.92. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $848.90 million during the quarter, compared to analyst estimates of $830.03 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.Surgery Partners's revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, equities analysts predict that Surgery Partners will post 0.22 EPS for the current fiscal year.

Insider Activity at Surgery Partners

In other news, Director Teresa DeLuca purchased 10,000 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $14.35 per share, with a total value of $143,500.00. Following the transaction, the director directly owned 66,843 shares of the company's stock, valued at approximately $959,197.05. This represents a 17.59% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Surgery Partners

Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Surgery Partners by 239.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company's stock worth $35,000 after purchasing an additional 2,051 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Surgery Partners in the 2nd quarter worth approximately $38,000. Fifth Third Bancorp boosted its holdings in Surgery Partners by 5,324.0% in the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company's stock valued at $48,000 after acquiring an additional 3,993 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 valued at $49,000 after purchasing an additional 2,282 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Surgery Partners during the 3rd quarter valued at approximately $121,000.

Surgery Partners Company Profile

Surgery Partners, Inc NASDAQ: SGRY is a healthcare services company that owns and operates a network of ambulatory surgery centers and surgical hospitals in the United States. The company works with physicians and health systems to provide outpatient and same-day surgical care in settings outside traditional hospital facilities.

Its services cover a range of specialties, including orthopedics, pain management, gastroenterology, ophthalmology, gynecology, urology and other procedural areas.

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