Surgery Partners, Inc. (NASDAQ:SGRY) Stock Has Average Target Price of $19.00

Key Points

• Analysts maintain a “Moderate Buy” consensus on Surgery Partners, with seven buy ratings, three holds and one sell; the average 12-month price target is $19.00 versus a recent share price of $14.20.
• Surgery Partners exceeded quarterly expectations, reporting adjusted EPS of $0.10 versus the $0.06 consensus and revenue of $848.9 million, up 2.7% year over year.
• Director Teresa DeLuca purchased 10,000 shares for approximately $143,500, while several institutional investors—including HSBC and Varde Management—expanded their positions during the second quarter.

Shares of Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $19.00.

SGRY has been the subject of several research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $18.00 price objective on shares of Surgery Partners in a research note on Tuesday, August 11th. Royal Bank Of Canada decreased their target price on shares of 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 reiterated a "sell (e+)" rating on shares of Surgery Partners in a report on Friday, August 21st. TD Cowen reiterated a "buy" rating and issued a $19.00 price target on shares of Surgery Partners in a research note on Friday, September 18th. Finally, JPMorgan Chase & Co. increased their price target on Surgery Partners from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Monday, September 14th.

Surgery Partners Stock Performance

Surgery Partners stock opened at $14.20 on Friday. 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 stock has a market cap of $1.86 billion, a PE ratio of -20.29, a P/E/G ratio of 4.89 and a beta of 1.92. Surgery Partners has a 12-month low of $11.41 and a 12-month high of $23.44. The business's 50-day moving average price is $14.71 and its two-hundred day moving average price is $14.26.

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 analysts' consensus estimates 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 firm had revenue of $848.90 million during the quarter, compared to analysts' expectations of $830.03 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts expect that Surgery Partners will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Surgery Partners

In other news, Director Teresa DeLuca bought 10,000 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was purchased at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the director owned 66,843 shares of the company's stock, valued at $959,197.05. This trade represents a 17.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Surgery Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new position in Surgery Partners in the 2nd quarter valued at approximately $308,000. Varde Management L.P. lifted its holdings in shares of Surgery Partners by 32.8% during the second quarter. Varde Management L.P. now owns 1,003,447 shares of the company's stock worth $16,858,000 after purchasing an additional 248,009 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Surgery Partners by 19.8% during the second quarter. TD Waterhouse Canada Inc. now owns 166,411 shares of the company's stock worth $2,762,000 after purchasing an additional 27,559 shares during the period. Penn Capital Management Company LLC bought a new stake in shares of Surgery Partners in the second quarter worth $2,941,000. Finally, Hsbc Holdings PLC increased its holdings in Surgery Partners by 54.5% in the second quarter. Hsbc Holdings PLC now owns 2,958,912 shares of the company's stock valued at $48,912,000 after purchasing an additional 1,043,244 shares during the period.

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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