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

Key Points

• Surgery Partners, Inc. has received a consensus rating of "Moderate Buy" from nine research firms, with a price target averaging $33.00.
• Recent trades revealed that Director Teresa Deluca sold 20,018 shares at an average price of $22.74, reducing her ownership by over 30%.
• The company reported revenue of $826.20 million for the last quarter, exceeding analysts' expectations, and had a positive return on equity of 2.51%.

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) has been given a consensus rating of "Moderate Buy" by the nine research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $33.00.

Several equities research analysts have weighed in on SGRY shares. Barclays cut their price target on 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. Bank of America assumed 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.

Insider Buying and Selling

In other Surgery Partners news, Director Teresa Deluca sold 20,018 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.74, for a total value of $455,209.32. Following the completion of the transaction, the director directly owned 45,173 shares of the company's stock, valued at approximately $1,027,234.02. This trade represents a 30.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of Surgery Partners by 7,902.7% in the 1st quarter. GAMMA Investing LLC now owns 8,883 shares of the company's stock worth $211,000 after purchasing an additional 8,772 shares during the last quarter. Northern Trust Corp increased its position in shares of Surgery Partners by 2.1% in the 4th quarter. Northern Trust Corp now owns 761,790 shares of the company's stock worth $16,127,000 after purchasing an additional 15,657 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Surgery Partners during the 1st quarter valued at about $420,000. Bank of New York Mellon Corp grew its position 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 valued at $8,115,000 after buying an additional 926 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Surgery Partners by 9.5% during the 1st quarter. Principal Financial Group Inc. now owns 54,266 shares of the company's stock valued at $1,289,000 after buying an additional 4,717 shares during the last quarter.

Surgery Partners Price Performance

Shares of NASDAQ SGRY opened at $23.84 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.93 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $3.06 billion, a P/E ratio of -16.67 and a beta of 1.82. The stock's 50-day simple moving average is $22.12 and its two-hundred day simple moving average is $22.94. Surgery Partners has a twelve month low of $18.87 and a twelve month high of $33.97.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.