Surgery Partners, Inc. (NASDAQ:SGRY) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Surgery Partners has a “Moderate Buy” consensus rating: Seven of 11 analysts rate the stock a buy, while three recommend holding and one recommends selling. The average 12-month price target is approximately $19.45.
• The company exceeded quarterly expectations, reporting $0.10 in EPS versus the $0.06 consensus and revenue of $848.9 million versus $830.0 million expected. Revenue increased 2.7% year over year, although the company posted a negative net margin.
• SGRY shares opened at $13.69, below the analyst price target average and its 50-day moving average of $15.49. Director Teresa Deluca also purchased 10,000 shares at $14.35 per share, increasing her ownership by 17.59%.

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.4545.

Several equities analysts recently commented on the stock. Royal Bank Of Canada decreased their price objective on shares of Surgery Partners from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, August 11th. Jefferies Financial Group restated a "buy" rating and set a $17.00 price target on shares of Surgery Partners in a research note on Wednesday, May 6th. Raymond James Financial set a $18.00 price objective on shares of Surgery Partners in a research note on Tuesday, August 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $18.00 target price on shares of Surgery Partners in a research note on Tuesday, August 11th. Finally, TD Cowen lifted their price target on Surgery Partners from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th.

Surgery Partners Stock Performance

Shares of NASDAQ:SGRY opened at $13.69 on Monday. The company has a market capitalization of $1.79 billion, a PE ratio of -19.56, a P/E/G ratio of 4.22 and a beta of 1.92. The company has a current ratio of 1.95, a quick ratio of 1.78 and a debt-to-equity ratio of 1.18. The business's fifty day simple moving average is $15.49 and its 200-day simple moving average is $14.39. 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, topping the consensus estimate of $0.06 by $0.04. The firm had revenue of $848.90 million for the quarter, compared to the consensus estimate 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 for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. As a group, equities research analysts predict that Surgery Partners will post 0.22 earnings per share for the current fiscal year.

Insider Activity at Surgery Partners

In other news, Director Teresa Deluca bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average price of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the director directly owned 66,843 shares in the company, valued at approximately $959,197.05. This represents a 17.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Trading of Surgery Partners

Several large investors have recently made changes to their positions in SGRY. State of Wisconsin Investment Board grew its holdings in Surgery Partners by 0.4% during the fourth quarter. State of Wisconsin Investment Board now owns 151,504 shares of the company's stock worth $2,341,000 after acquiring an additional 668 shares during the period. ProShare Advisors LLC lifted its holdings in Surgery Partners by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 14,135 shares of the company's stock valued at $218,000 after acquiring an additional 909 shares during the period. California State Teachers Retirement System lifted its holdings in Surgery Partners by 1.6% in the second quarter. California State Teachers Retirement System now owns 65,091 shares of the company's stock valued at $1,447,000 after acquiring an additional 1,021 shares during the period. Sanctuary Advisors LLC boosted its position in Surgery Partners by 4.5% in the 4th quarter. Sanctuary Advisors LLC now owns 28,488 shares of the company's stock worth $440,000 after purchasing an additional 1,218 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Surgery Partners by 11.0% in the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company's stock worth $305,000 after purchasing an additional 1,278 shares in the last quarter.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source