Royal Bank Of Canada Cuts Surgery Partners (NASDAQ:SGRY) Price Target to $31.00

Surgery Partners (NASDAQ:SGRY) had its target price reduced by Royal Bank Of Canada from $35.00 to $31.00 in a research note published on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other research analysts have also issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Surgery Partners in a research report on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $36.00 target price on shares of Surgery Partners in a research note on Tuesday, October 7th. Benchmark decreased their target price on Surgery Partners from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America assumed coverage on Surgery Partners in a research note on Monday, July 28th. They issued a “buy” rating and a $28.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Surgery Partners in a research note on Thursday, September 18th. They set a “neutral” rating and a $27.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.75.

Surgery Partners Stock Down 3.5%

Shares of NASDAQ SGRY opened at $15.31 on Tuesday. Surgery Partners has a 1 year low of $15.18 and a 1 year high of $26.16. The firm’s 50-day moving average is $21.08 and its 200-day moving average is $22.01. The company has a current ratio of 1.93, a quick ratio of 1.78 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $1.96 billion, a PE ratio of -10.71 and a beta of 1.85.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The business had revenue of $821.50 million for the quarter, compared to the consensus estimate of $823.55 million. During the same period last year, the firm earned $0.19 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Surgery Partners has set its FY 2025 guidance at EPS. Equities analysts expect that Surgery Partners will post 0.67 EPS for the current year.

Insider Activity at Surgery Partners

In other 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 owned 117,181 shares in the company, valued at $2,634,228.88. The trade was a 7.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Surgery Partners

Several hedge funds have recently bought and sold shares of SGRY. AlphaQuest LLC boosted its holdings in shares of Surgery Partners by 112.0% in the first quarter. AlphaQuest LLC now owns 1,058 shares of the company’s stock valued at $25,000 after buying an additional 559 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Surgery Partners by 86.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company’s stock worth $28,000 after acquiring an additional 542 shares during the period. Jones Financial Companies Lllp lifted its position in Surgery Partners by 313.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock valued at $27,000 after acquiring an additional 930 shares in the last quarter. Summit Securities Group LLC acquired a new position in Surgery Partners in the 1st quarter worth $31,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Surgery Partners during the 1st quarter worth about $65,000.

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.