Surgery Partners (NASDAQ:SGRY) Given New $24.00 Price Target at Barclays

Surgery Partners (NASDAQ:SGRY - Free Report) had its price objective cut by Barclays from $25.00 to $24.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts also recently commented on the stock. Royal Bank of Canada restated an "outperform" rating and set a $35.00 price objective on shares of Surgery Partners in a research report on Tuesday, March 25th. Benchmark reaffirmed a "buy" rating and set a $35.00 target price on shares of Surgery Partners in a research note on Monday, April 21st. Finally, Macquarie decreased their price target on shares of Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.56.

Surgery Partners Stock Performance

Shares of SGRY traded down $0.09 during trading hours on Tuesday, hitting $22.80. The stock had a trading volume of 603,360 shares, compared to its average volume of 1,094,351. Surgery Partners has a 12 month low of $19.50 and a 12 month high of $33.97. The firm has a market capitalization of $2.92 billion, a PE ratio of -47.50, a PEG ratio of 19.21 and a beta of 1.96. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. The stock has a fifty day moving average price of $22.35 and a 200 day moving average price of $22.81.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.04). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The business had revenue of $776.00 million during the quarter, compared to analysts' expectations of $777.77 million. During the same period in the previous year, the business posted $0.10 EPS. The business's quarterly revenue was up 8.2% compared to the same quarter last year. Analysts anticipate that Surgery Partners will post 0.67 EPS for the current year.

Insider Buying and Selling at Surgery Partners

In related news, insider Marissa Brittenham sold 3,156 shares of Surgery Partners stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the transaction, the insider now directly owns 63,408 shares of the company's stock, valued at approximately $1,527,498.72. The trade was a 4.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David T. Doherty sold 6,733 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $24.02, for a total value of $161,726.66. Following the transaction, the chief financial officer now owns 150,868 shares of the company's stock, valued at approximately $3,623,849.36. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Surgery Partners

Several hedge funds have recently made changes to their positions in SGRY. Janus Henderson Group PLC lifted its position in shares of Surgery Partners by 110.2% in the 4th quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock worth $244,616,000 after purchasing an additional 6,057,477 shares during the period. Pentwater Capital Management LP increased its position in shares of Surgery Partners by 545.2% in the 1st quarter. Pentwater Capital Management LP now owns 2,742,000 shares of the company's stock valued at $65,122,000 after acquiring an additional 2,317,000 shares during the period. TIG Advisors LLC purchased a new position in Surgery Partners in the 1st quarter worth $46,902,000. King Street Capital Management L.P. lifted its position in Surgery Partners by 93.1% during the 4th quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company's stock worth $59,276,000 after acquiring an additional 1,350,000 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Surgery Partners by 224.7% during the 4th quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company's stock valued at $36,975,000 after purchasing an additional 1,208,639 shares during the last quarter.

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.