Surgery Partners (NASDAQ:SGRY) Stock Keeps "Outperform" Rating at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed an “Outperform” rating on Surgery Partners with a $19 price target, implying approximately 34% upside from the stock’s $14.17 price.
• Analyst sentiment is generally favorable, with seven Buy ratings, three Holds and one Sell; MarketBeat reports a consensus rating of “Moderate Buy” and a $19 average price target.
• Surgery Partners exceeded quarterly expectations, reporting $0.10 in EPS versus a $0.06 estimate and $848.9 million in revenue, up 2.7% year over year.

Surgery Partners (NASDAQ:SGRY - Get Free Report)'s stock had its "outperform" rating reissued by analysts at Royal Bank Of Canada in a note issued to investors on Wednesday, Benzinga reports. They presently have a $19.00 price target on the stock. Royal Bank Of Canada's target price points to a potential upside of 34.11% from the stock's current price.

Several other analysts have also issued reports on the company. Raymond James Financial set a $18.00 target price on Surgery Partners in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lifted their target price on shares of Surgery Partners from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Monday, September 14th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Surgery Partners in a research note on Friday, August 21st. TD Cowen reaffirmed a "buy" rating and set a $19.00 target price on shares of Surgery Partners in a research note on Friday, September 18th. Finally, Benchmark reaffirmed a "buy" rating on shares of Surgery Partners in a research report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Surgery Partners Price Performance

NASDAQ SGRY traded down $0.24 on Wednesday, hitting $14.17. The stock had a trading volume of 109,708 shares, compared to its average volume of 1,730,233. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95. Surgery Partners has a 52-week low of $11.41 and a 52-week high of $23.44. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -20.25, a price-to-earnings-growth ratio of 4.55 and a beta of 1.92. The firm has a 50-day moving average of $14.61 and a 200-day moving average of $14.29.

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

Insider Activity at Surgery Partners

In related news, Director Teresa DeLuca bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average cost of $14.35 per share, with a total value of $143,500.00. Following the acquisition, the director owned 66,843 shares in the company, valued at $959,197.05. This trade represents a 17.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Trading of Surgery Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised 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 buying an additional 2,051 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Surgery Partners in the 2nd quarter worth approximately $38,000. Fifth Third Bancorp increased its holdings in Surgery Partners by 5,324.0% in the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company's stock worth $48,000 after acquiring an additional 3,993 shares in the last quarter. Alpine Global Management LLC bought a new stake in Surgery Partners during the 4th quarter worth approximately $175,000. Finally, Empowered Funds LLC bought a new stake in Surgery Partners during the 2nd quarter worth approximately $216,000.

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.