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

Shares of Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $33.56.

A number of research firms have commented on SGRY. Macquarie dropped their price objective on shares of Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 price objective on shares of Surgery Partners in a research note on Tuesday, March 25th. Barclays reduced their price objective 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. Finally, Benchmark reiterated a "buy" rating and issued a $35.00 price objective on shares of Surgery Partners in a research note on Monday, April 21st.

Surgery Partners Price Performance

SGRY stock opened at $23.19 on Friday. The business's 50-day moving average is $22.27 and its two-hundred day moving average is $22.76. The firm has a market capitalization of $2.97 billion, a P/E ratio of -48.31, a P/E/G ratio of 19.21 and a beta of 1.96. Surgery Partners has a 1 year low of $19.50 and a 1 year high of $33.97. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.04). The company had revenue of $776.00 million for the quarter, compared to analyst estimates of $777.77 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. Analysts anticipate that Surgery Partners will post 0.67 earnings per share for the current fiscal year.

Insider Transactions at Surgery Partners

In other news, insider Marissa Brittenham sold 3,156 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the sale, the insider now owns 63,408 shares of the company's stock, valued at approximately $1,527,498.72. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David T. Doherty sold 6,733 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $24.02, for a total transaction of $161,726.66. Following the sale, the chief financial officer now directly owns 150,868 shares of the company's stock, valued at $3,623,849.36. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Surgery Partners

Hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC boosted its holdings 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 purchasing an additional 559 shares during the period. PNC Financial Services Group Inc. lifted its stake in Surgery Partners by 86.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock valued at $28,000 after buying an additional 542 shares during the last quarter. Summit Securities Group LLC bought a new stake in Surgery Partners in the first quarter valued at $31,000. DekaBank Deutsche Girozentrale bought a new stake in Surgery Partners in the first quarter valued at $65,000. Finally, KBC Group NV lifted its stake in Surgery Partners by 66.1% in the fourth quarter. KBC Group NV now owns 3,962 shares of the company's stock valued at $84,000 after buying an additional 1,577 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.

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.