Surgery Partners, Inc. (NASDAQ:SGRY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have earned an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $21.60.

Several brokerages have recently weighed in on SGRY. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a report on Tuesday, May 26th. Zacks Research upgraded Surgery Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $17.00 price target on shares of Surgery Partners in a research report on Wednesday, May 6th.

Surgery Partners Stock Down 2.1%

Surgery Partners stock opened at $15.32 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.69 and a debt-to-equity ratio of 1.17. Surgery Partners has a 1-year low of $11.41 and a 1-year high of $24.10. The company has a fifty day simple moving average of $15.36 and a 200 day simple moving average of $14.44. The company has a market cap of $2.00 billion, a P/E ratio of -25.53, a price-to-earnings-growth ratio of 4.68 and a beta of 1.91.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.12. Surgery Partners had a negative net margin of 2.28% and a positive return on equity of 1.04%. The firm had revenue of $810.90 million for the quarter, compared to analysts’ expectations of $797.69 million. During the same period in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts anticipate that Surgery Partners will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surgery Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Surgery Partners by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock valued at $1,085,000 after buying an additional 2,015 shares during the last quarter. Millennium Management LLC grew its stake in shares of Surgery Partners by 1,253.7% in the first quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock valued at $4,804,000 after buying an additional 219,806 shares in the last quarter. Empowered Funds LLC increased its holdings in Surgery Partners by 11.0% during the first quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock worth $305,000 after buying an additional 1,278 shares during the last quarter. Prudential Financial Inc. acquired a new position in Surgery Partners during the second quarter worth $219,000. Finally, Invesco Ltd. raised its position in Surgery Partners by 7.4% during the second quarter. Invesco Ltd. now owns 1,683,311 shares of the company’s stock worth $37,420,000 after acquiring an additional 115,627 shares in the last quarter.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.