Brokerages Set Surgery Partners, Inc. (NASDAQ:SGRY) PT at $34.75

Shares of Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $34.75.

A number of research firms have recently weighed in on SGRY. Macquarie lowered their price target 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. Benchmark reaffirmed a "buy" rating and set a $35.00 price target on shares of Surgery Partners in a research note on Monday, April 21st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $35.00 price objective on shares of Surgery Partners in a report on Tuesday, March 25th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Surgery Partners

A number of institutional investors and hedge funds have recently made changes to their positions in SGRY. Woodline Partners LP acquired a new position in shares of Surgery Partners in the first quarter valued at about $12,478,000. Empowered Funds LLC raised its holdings in Surgery Partners by 11.0% during the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company's stock worth $305,000 after purchasing an additional 1,278 shares during the last quarter. Caxton Associates LLP acquired a new stake in Surgery Partners in the first quarter worth $4,351,000. Twin Securities Inc. acquired a new stake in Surgery Partners in the first quarter worth $7,844,000. Finally, Pentwater Capital Management LP grew its position in Surgery Partners by 545.2% in the 1st quarter. Pentwater Capital Management LP now owns 2,742,000 shares of the company's stock valued at $65,122,000 after purchasing an additional 2,317,000 shares during the period.

Surgery Partners Trading Up 1.3%

SGRY stock traded up $0.30 during trading on Tuesday, reaching $23.94. 962,649 shares of the stock were exchanged, compared to its average volume of 1,092,433. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $22.55 and a 200-day moving average price of $23.15. Surgery Partners has a 1 year low of $19.50 and a 1 year high of $33.97. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -49.88, a P/E/G ratio of 19.21 and a beta of 1.96.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.04). The firm 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 company's revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. On average, research analysts predict that Surgery Partners will post 0.67 earnings per share for the current 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.