Surgery Partners, Inc. (NASDAQ:SGRY) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Surgery Partners, Inc. has received an average rating of “Moderate Buy” from analysts, with three hold ratings and six buy ratings among the nine firms covering the stock.
• The company's stock price has a one-year low of $18.87 and a high of $33.90, currently trading around $21.87.
• In its latest earnings report, Surgery Partners reported $0.17 EPS and revenue of $826.20 million, exceeding analyst expectations for both metrics.

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) has been given a consensus rating of "Moderate Buy" by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $32.8750.

Several equities analysts have recently weighed in on SGRY shares. Bank of America started coverage on shares of Surgery Partners in a research report on Monday, July 28th. They issued a "buy" rating and a $28.00 price objective on the stock. Barclays dropped their price objective on shares of Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. began coverage on shares of Surgery Partners in a research report on Thursday. They set a "neutral" rating and a $27.00 price target on the stock.

Insider Transactions at Surgery Partners

In related news, insider Harrison R. Bane sold 9,339 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $22.48, for a total transaction of $209,940.72. Following the transaction, the insider directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Deluca sold 20,018 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $22.74, for a total transaction of $455,209.32. Following the transaction, the director directly owned 45,173 shares in the company, valued at approximately $1,027,234.02. This represents a 30.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds have recently bought and sold shares of the business. Hudson Bay Capital Management LP increased its position in Surgery Partners by 0.7% during the second quarter. Hudson Bay Capital Management LP now owns 473,246 shares of the company's stock worth $10,520,000 after acquiring an additional 3,246 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Surgery Partners by 101.8% during the 2nd quarter. Headlands Technologies LLC now owns 16,556 shares of the company's stock worth $368,000 after acquiring an additional 8,353 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Surgery Partners by 26.2% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 18,927 shares of the company's stock worth $422,000 after acquiring an additional 3,929 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Surgery Partners by 68.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,313 shares of the company's stock worth $207,000 after acquiring an additional 3,794 shares during the period. Finally, Rangeley Capital LLC lifted its holdings in shares of Surgery Partners by 82.7% during the 2nd quarter. Rangeley Capital LLC now owns 166,060 shares of the company's stock worth $3,692,000 after acquiring an additional 75,160 shares during the period.

Surgery Partners Stock Performance

NASDAQ SGRY traded down $0.41 on Monday, hitting $21.62. 1,805,315 shares of the stock were exchanged, compared to its average volume of 1,253,625. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78. The business's fifty day moving average is $22.40 and its 200 day moving average is $22.48. Surgery Partners has a 52 week low of $18.87 and a 52 week high of $33.37. The company has a market capitalization of $2.77 billion, a PE ratio of -15.12 and a beta of 1.76.

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

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.