Citigroup Trims Surgery Partners (NASDAQ:SGRY) Target Price to $38.00

Surgery Partners (NASDAQ:SGRY - Free Report) had its target price trimmed by Citigroup from $42.00 to $38.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently weighed in on SGRY. StockNews.com raised Surgery Partners from a sell rating to a hold rating in a research note on Thursday, March 21st. Royal Bank of Canada reaffirmed an outperform rating and issued a $49.00 price objective on shares of Surgery Partners in a report on Thursday, February 29th. Cantor Fitzgerald reissued an overweight rating and set a $43.00 target price on shares of Surgery Partners in a research note on Wednesday, April 10th. Barclays started coverage on shares of Surgery Partners in a research note on Wednesday, March 6th. They issued an equal weight rating and a $35.00 price target for the company. Finally, Benchmark reiterated a buy rating and set a $50.00 price objective on shares of Surgery Partners in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Surgery Partners presently has a consensus rating of Moderate Buy and a consensus target price of $43.13.

Surgery Partners Stock Performance

Shares of SGRY traded down $0.60 during midday trading on Wednesday, hitting $27.17. 1,611,833 shares of the stock traded hands, compared to its average volume of 930,855. The business's 50 day moving average price is $27.38 and its two-hundred day moving average price is $29.79. The firm has a market capitalization of $3.45 billion, a PE ratio of -271.70, a price-to-earnings-growth ratio of 2.24 and a beta of 2.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.57 and a current ratio of 1.71. Surgery Partners has a 1-year low of $22.05 and a 1-year high of $45.79.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its earnings results on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.07. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The firm had revenue of $735.40 million during the quarter, compared to analyst estimates of $741.93 million. During the same period in the previous year, the business posted $0.22 EPS. Surgery Partners's revenue was up 4.0% on a year-over-year basis. Equities research analysts predict that Surgery Partners will post 0.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jason Eric Evans sold 4,840 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $29.71, for a total transaction of $143,796.40. Following the completion of the sale, the chief executive officer now directly owns 459,670 shares of the company's stock, valued at approximately $13,656,795.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Surgery Partners news, insider Bradley R. Owens sold 1,040 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $35.22, for a total transaction of $36,628.80. Following the sale, the insider now owns 73,149 shares in the company, valued at approximately $2,576,307.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jason Eric Evans sold 4,840 shares of the company's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $29.71, for a total transaction of $143,796.40. Following the sale, the chief executive officer now directly owns 459,670 shares of the company's stock, valued at $13,656,795.70. The disclosure for this sale can be found here. Insiders have sold 14,664 shares of company stock worth $477,225 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Surgery Partners

A number of large investors have recently made changes to their positions in SGRY. Raymond James & Associates boosted its position in Surgery Partners by 1.2% during the 3rd quarter. Raymond James & Associates now owns 61,188 shares of the company's stock worth $1,790,000 after acquiring an additional 736 shares during the period. Bank of New York Mellon Corp boosted its position in Surgery Partners by 6.3% during the third quarter. Bank of New York Mellon Corp now owns 317,983 shares of the company's stock worth $9,301,000 after purchasing an additional 18,900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Surgery Partners by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,506 shares of the company's stock valued at $307,000 after buying an additional 1,387 shares during the last quarter. Inspire Investing LLC grew its position in shares of Surgery Partners by 160.3% in the third quarter. Inspire Investing LLC now owns 18,103 shares of the company's stock valued at $530,000 after purchasing an additional 11,147 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in Surgery Partners by 109.9% in the 3rd quarter. TD Asset Management Inc now owns 207,982 shares of the company's stock valued at $6,083,000 after buying an additional 108,911 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.