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

Key Points

• Analyst consensus is “Moderate Buy”: Seven of 11 brokerages rate Surgery Partners a buy, one rates it a strong buy, two recommend holding, and one recommends selling. The average 12-month price target is $21.60, versus a recent share price of $15.32.
• Quarterly results exceeded expectations: Surgery Partners reported a smaller-than-expected loss of $0.03 per share and revenue of $810.9 million, up 4.5% year over year and above the $797.7 million consensus estimate.
• Institutional ownership has recently increased: Several investment firms expanded their positions or initiated new holdings, including PNC Financial Services, Fifth Third Bancorp, Caitong International Asset Management, Aquatic Capital Management and Alpine Global Management.

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) has earned an average rating of "Moderate Buy" from the eleven brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $21.60.

Several research firms have recently weighed in on SGRY. Weiss Ratings reiterated a "sell (e+)" rating on shares of Surgery Partners in a report on Tuesday, May 26th. Jefferies Financial Group restated a "buy" rating and set a $17.00 price objective on shares of Surgery Partners in a report on Wednesday, May 6th. Finally, Zacks Research raised shares of Surgery Partners from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 4th.

Surgery Partners Price Performance

Shares of SGRY opened at $15.32 on Thursday. The stock has a 50 day simple moving average of $15.36 and a 200 day simple moving average of $14.44. Surgery Partners has a 52-week low of $11.41 and a 52-week high of $24.10. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.69 and a current ratio of 1.86. The firm has a market capitalization of $2.00 billion, a PE ratio of -25.53, a P/E/G ratio of 4.68 and a beta of 1.91.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.12. Surgery Partners had a negative net margin of 2.28% and a positive return on equity of 1.04%. The firm had revenue of $810.90 million for the quarter, compared to the consensus estimate of $797.69 million. During the same period last year, the company posted $0.04 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts predict that Surgery Partners will post 0.25 EPS for the current fiscal year.

Institutional Trading of Surgery Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of Surgery Partners by 239.6% during the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company's stock worth $35,000 after buying an additional 2,051 shares in the last quarter. Fifth Third Bancorp lifted its stake in Surgery Partners by 5,324.0% in the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company's stock valued at $48,000 after acquiring an additional 3,993 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Surgery Partners by 45,640.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company's stock valued at $49,000 after acquiring an additional 2,282 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Surgery Partners during the 3rd quarter worth approximately $121,000. Finally, Alpine Global Management LLC acquired a new position in Surgery Partners during the 4th quarter worth approximately $175,000.

About Surgery Partners

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.

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