Surgery Partners (NASDAQ:SGRY) Receives "Buy" Rating from TD Cowen

Key Points

• TD Cowen reiterated a “Buy” rating on Surgery Partners and set a $19 price target, implying 43.8% upside from the stock’s $13.21 price.
• Analyst sentiment is broadly positive, with seven Buy ratings, three Holds and one Sell, resulting in a consensus “Moderate Buy” rating and a $19 average target.
• Surgery Partners beat quarterly earnings and revenue expectations, reporting $0.10 EPS and $848.9 million in revenue, while director Teresa DeLuca purchased 10,000 shares worth $143,500.

Surgery Partners (NASDAQ:SGRY - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at TD Cowen in a research note issued on Friday, Benzinga reports. They presently have a $19.00 price objective on the stock. TD Cowen's target price indicates a potential upside of 43.80% from the stock's current price.

SGRY has been the subject of several other research reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of Surgery Partners in a report on Friday, August 21st. Raymond James Financial set a $18.00 target price on Surgery Partners in a research report on Tuesday, August 11th. Zacks Research cut Surgery Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Benchmark reissued a "buy" rating on shares of Surgery Partners in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Surgery Partners from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Monday. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Surgery Partners Stock Down 1.0%

Shares of NASDAQ SGRY traded down $0.14 during trading hours on Friday, hitting $13.21. 471,315 shares of the stock were exchanged, compared to its average volume of 1,680,057. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18. The company has a market cap of $1.73 billion, a PE ratio of -18.90, a PEG ratio of 3.83 and a beta of 1.92. The firm has a fifty day moving average price of $14.88 and a 200-day moving average price of $14.26. Surgery Partners has a 12 month low of $11.41 and a 12 month high of $23.44.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The company had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. During the same period last year, the firm earned $0.17 earnings per share. Surgery Partners's revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Surgery Partners will post 0.25 EPS for the current year.

Insider Transactions at Surgery Partners

In other news, Director Teresa DeLuca purchased 10,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was bought at an average price of $14.35 per share, with a total value of $143,500.00. Following the transaction, the director owned 66,843 shares in the company, valued at $959,197.05. The trade was a 17.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Jupiter Topco LLC acquired a new stake in Surgery Partners during the 2nd quarter worth about $233,220,000. Pentwater Capital Management LP purchased a new stake in shares of Surgery Partners in the second quarter worth about $195,384,000. BlackRock Inc. acquired a new stake in Surgery Partners during the second quarter worth about $104,857,000. Hsbc Holdings PLC acquired a new stake in Surgery Partners during the second quarter worth about $48,912,000. Finally, Bank of America Corp DE purchased a new position in Surgery Partners during the second quarter valued at approximately $20,374,000.

About Surgery Partners

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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