Surgery Partners (NASDAQ:SGRY) Earns Buy Rating from 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 began coverage on shares of Surgery Partners (NASDAQ:SGRY - Get Free Report) in a research report issued on Monday. The brokerage set a "buy" rating and a $28.00 price target on the stock. Bank of America's price target would indicate a potential upside of 26.64% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Barclays dropped their target price on shares of Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating for the company in a report on Tuesday, May 27th. Benchmark restated a "buy" rating and set a $35.00 target price on shares of Surgery Partners in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Surgery Partners has a consensus rating of "Moderate Buy" and a consensus price target of $33.33.

Surgery Partners Price Performance

SGRY stock traded down $0.26 during trading on Monday, reaching $22.11. 780,669 shares of the company were exchanged, compared to its average volume of 1,363,312. The company has a market cap of $2.83 billion, a P/E ratio of -14.46 and a beta of 1.90. Surgery Partners has a 52-week low of $18.87 and a 52-week high of $33.97. The stock's 50 day moving average price is $22.23 and its 200 day moving average price is $22.85. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.73 and a current ratio of 1.89.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.04 EPS 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 analysts' expectations of $777.77 million. Surgery Partners had a positive return on equity of 2.41% and a negative net margin of 6.10%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. As a group, analysts predict that Surgery Partners will post 0.67 earnings per share for the current fiscal year.

Institutional Trading of Surgery Partners

A number of hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC raised its holdings in shares of Surgery Partners by 94.4% in the 2nd quarter. AlphaQuest LLC now owns 2,057 shares of the company's stock worth $46,000 after purchasing an additional 999 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Surgery Partners in the 2nd quarter worth about $115,000. Cannon Global Investment Management LLC purchased a new position in shares of Surgery Partners in the 2nd quarter worth about $367,000. Credit Industriel ET Commercial raised its holdings in shares of Surgery Partners by 33.4% in the 2nd quarter. Credit Industriel ET Commercial now owns 244,112 shares of the company's stock worth $5,427,000 after purchasing an additional 61,111 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of Surgery Partners by 21.6% in the 2nd quarter. Inspire Investing LLC now owns 17,647 shares of the company's stock worth $392,000 after purchasing an additional 3,138 shares during the period.

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.