Surgery Partners, Inc. (NASDAQ:SGRY) Receives $36.63 Consensus Target Price from Analysts

Surgery Partners, Inc. (NASDAQ:SGRY) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $34.75.

Several analysts have issued reports on the company. Benchmark restated a “buy” rating and issued a $35.00 target price on shares of Surgery Partners in a report on Monday. Macquarie reduced their target price 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Surgery Partners in a research note on Tuesday, March 25th.

Insider Transactions at Surgery Partners

In related news, insider Harrison R. Bane sold 56,315 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $25.64, for a total transaction of $1,443,916.60. Following the transaction, the insider now owns 107,037 shares of the company’s stock, valued at approximately $2,744,428.68. This represents a 34.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason Eric Evans sold 26,520 shares of Surgery Partners stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $25.65, for a total value of $680,238.00. Following the completion of the transaction, the chief executive officer now directly owns 560,698 shares of the company’s stock, valued at approximately $14,381,903.70. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,622 shares of company stock worth $2,717,860. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its holdings in Surgery Partners by 110.2% during the 4th quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company’s stock worth $244,616,000 after buying an additional 6,057,477 shares in the last quarter. King Street Capital Management L.P. grew its stake in Surgery Partners by 93.1% during the 4th quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company’s stock worth $59,276,000 after purchasing an additional 1,350,000 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Surgery Partners by 224.7% during the 4th quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company’s stock worth $36,975,000 after purchasing an additional 1,208,639 shares during the period. American Century Companies Inc. raised its position in Surgery Partners by 223.9% in the 4th quarter. American Century Companies Inc. now owns 1,399,756 shares of the company’s stock valued at $29,633,000 after purchasing an additional 967,534 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Surgery Partners in the 4th quarter valued at about $15,796,000.

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $21.84 on Friday. Surgery Partners has a twelve month low of $19.50 and a twelve month high of $33.97. The company has a market cap of $2.79 billion, a P/E ratio of -45.50, a P/E/G ratio of 19.21 and a beta of 2.40. 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 company’s 50-day moving average price is $23.16 and its 200-day moving average price is $24.15.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Monday, March 3rd. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The business had revenue of $864.40 million for the quarter, compared to analysts’ expectations of $828.09 million. On average, sell-side analysts forecast that Surgery Partners will post 0.67 earnings per share for the current fiscal year.

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.