Surgery Partners (NASDAQ:SGRY) Coverage Initiated by Analysts at Bank of America

Key Points

• Bank of America has initiated coverage of Surgery Partners with a "buy" rating and a price target of $28.00, indicating a potential upside of 25.76% from the current stock price.
• The average rating for Surgery Partners among analysts is a "Moderate Buy," with a consensus price target of $33.33 based on multiple research firms' evaluations.
• Surgery Partners reported earnings of $0.04 per share for the last quarter, missing consensus estimates, but achieved an 8.2% increase in quarterly revenue year-over-year.

Equities researchers at Bank of America initiated coverage on shares of Surgery Partners (NASDAQ:SGRY - Get Free Report) in a research note issued on Monday. The brokerage set a "buy" rating and a $28.00 price target on the stock. Bank of America's price target points to a potential upside of 24.78% from the company's previous close.

Several other research firms also recently issued reports on SGRY. Benchmark reissued a "buy" rating and issued a $35.00 price target on shares of Surgery Partners in a research note on Monday, April 21st. Barclays decreased their price objective on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating for the company in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

Surgery Partners Trading Up 5.6%

Shares of SGRY traded up $1.18 during trading hours on Monday, reaching $22.44. The stock had a trading volume of 2,511,884 shares, compared to its average volume of 1,455,787. The company has a quick ratio of 1.73, a current ratio of 1.89 and a debt-to-equity ratio of 1.09. Surgery Partners has a 52 week low of $18.87 and a 52 week high of $33.97. The firm has a 50-day moving average of $22.26 and a 200 day moving average of $22.85. The company has a market cap of $2.88 billion, a P/E ratio of -14.67 and a beta of 1.90.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.04). Surgery Partners had a positive return on equity of 2.41% and a negative net margin of 6.10%. The firm had revenue of $776.00 million for the quarter, compared to the consensus estimate of $777.77 million. During the same quarter last year, the company posted $0.10 EPS. Surgery Partners's revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that Surgery Partners will post 0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SGRY. AlphaQuest LLC increased its holdings in shares of Surgery Partners by 112.0% during 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. increased 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 acquiring an additional 542 shares during the last quarter. Summit Securities Group LLC bought a new position in Surgery Partners in the first quarter valued at approximately $31,000. DekaBank Deutsche Girozentrale bought a new position in Surgery Partners in the first quarter valued at approximately $65,000. Finally, State of Wyoming increased its stake in Surgery Partners by 94.4% in the fourth quarter. State of Wyoming now owns 4,002 shares of the company's stock valued at $85,000 after acquiring an additional 1,943 shares during the last quarter.

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.