Surgery Partners' (SGRY) Overweight Rating Reiterated at Cantor Fitzgerald

Key Points

• Stock analysts at Cantor Fitzgerald reiterated an "overweight" rating for Surgery Partners (SGRY) with a price target of $36.00, suggesting a potential upside of 76.56%.
• Surgery Partners reported $826.20 million in revenue for the last quarter, exceeding expectations, and achieved earnings per share of $0.17, surpassing the consensus estimate by $0.01.
• The company's average analyst rating is a "Moderate Buy", with six analysts giving a Buy rating and an average price target of $32.00.

Surgery Partners (NASDAQ:SGRY - Get Free Report)'s stock had its "overweight" rating restated by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $36.00 price target on the stock. Cantor Fitzgerald's price target points to a potential upside of 76.56% from the stock's previous close.

A number of other equities research analysts also recently weighed in on the company. Bank of America assumed coverage on Surgery Partners in a research report on Monday, July 28th. They set a "buy" rating and a $28.00 target price for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Surgery Partners in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. began coverage on shares of Surgery Partners in a report on Thursday, September 18th. They issued a "neutral" rating and a $27.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $32.00.

Surgery Partners Stock Performance

Surgery Partners stock opened at $20.39 on Tuesday. Surgery Partners has a 12-month low of $18.87 and a 12-month high of $33.37. The stock has a 50-day simple moving average of $22.27 and a 200 day simple moving average of $22.27. 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 stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -14.26 and a beta of 1.83.

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

Insider Buying and Selling at Surgery Partners

In other Surgery Partners news, insider Harrison R. Bane sold 9,339 shares of Surgery Partners stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $22.48, for a total transaction of $209,940.72. Following the transaction, the insider directly owned 117,181 shares in the company, valued at approximately $2,634,228.88. The trade was a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa Deluca sold 20,018 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $22.74, for a total value of $455,209.32. Following the completion of the sale, the director owned 45,173 shares of the company's stock, valued at $1,027,234.02. This trade represents a 30.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company's stock.

Institutional Trading of Surgery Partners

A number of large investors have recently bought and sold shares of SGRY. Wellington Management Group LLP lifted its stake in Surgery Partners by 19.7% in the first quarter. Wellington Management Group LLP now owns 7,091,756 shares of the company's stock valued at $168,429,000 after buying an additional 1,165,667 shares in the last quarter. King Street Capital Management L.P. raised its stake in shares of Surgery Partners by 24.5% in the 2nd quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company's stock valued at $138,382,000 after purchasing an additional 1,225,000 shares during the period. Pentwater Capital Management LP lifted its holdings in shares of Surgery Partners by 545.2% in the first 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 in the last quarter. TIG Advisors LLC acquired a new position in shares of Surgery Partners during the first quarter worth about $46,902,000. Finally, Geode Capital Management LLC grew its holdings in shares of Surgery Partners by 0.5% during the second quarter. Geode Capital Management LLC now owns 1,916,384 shares of the company's stock worth $42,606,000 after buying an additional 9,836 shares in 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.

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