Surgery Partners (NASDAQ:SGRY) Now Covered by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reiterated a "neutral" rating for Surgery Partners (NASDAQ:SGRY) with a price target of $27, indicating a potential upside of 23.91% from the current price.
• Recent reports show a consensus rating of "Moderate Buy" for Surgery Partners, with six analysts recommending to buy and three giving a hold rating.
• Surgery Partners reported $826.20 million in revenue for the quarter, exceeding analyst expectations, alongside earnings per share of $0.17.

JPMorgan Chase & Co. assumed coverage on shares of Surgery Partners (NASDAQ:SGRY - Free Report) in a report published on Thursday, Marketbeat Ratings reports. The firm issued a neutral rating and a $27.00 price target on the stock.

SGRY has been the topic of several other research reports. Bank of America started coverage on shares of Surgery Partners in a research report on Monday, July 28th. They set a "buy" rating and a $28.00 price target on the stock. Barclays reduced their price target on shares of Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 27th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.88.

Surgery Partners Stock Up 0.6%

Shares of SGRY traded up $0.13 during mid-day trading on Thursday, reaching $21.75. The company's stock had a trading volume of 694,841 shares, compared to its average volume of 1,404,657. The company's 50 day moving average is $22.40 and its 200 day moving average is $22.46. Surgery Partners has a 12-month low of $18.87 and a 12-month high of $33.37. The stock has a market cap of $2.79 billion, a PE ratio of -15.20 and a beta of 1.76. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The firm had revenue of $826.20 million during the quarter, compared to the consensus estimate of $816.96 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Surgery Partners will post 0.67 EPS for the current fiscal year.

Insider Transactions at Surgery Partners

In other news, Director Teresa Deluca sold 20,018 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $22.74, for a total transaction of $455,209.32. Following the completion of the sale, the director owned 45,173 shares in the company, valued at $1,027,234.02. This trade represents a 30.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Harrison R. Bane sold 9,339 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $22.48, for a total value of $209,940.72. Following the completion of the sale, the insider owned 117,181 shares of the company's stock, valued at approximately $2,634,228.88. This trade represents a 7.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in Surgery Partners by 86.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock worth $28,000 after buying an additional 542 shares in the last quarter. AlphaQuest LLC grew its position in Surgery Partners by 112.0% in the first quarter. AlphaQuest LLC now owns 1,058 shares of the company's stock worth $25,000 after acquiring an additional 559 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Surgery Partners by 2.8% during the 4th quarter. Mackenzie Financial Corp now owns 21,974 shares of the company's stock worth $465,000 after buying an additional 599 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Surgery Partners by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 341,702 shares of the company's stock worth $8,115,000 after buying an additional 926 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Surgery Partners by 1.6% in the 2nd quarter. California State Teachers Retirement System now owns 65,091 shares of the company's stock valued at $1,447,000 after purchasing an additional 1,021 shares during the last quarter.

About Surgery Partners

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.