Surgery Partners (NASDAQ:SGRY) Cut to Neutral at Mizuho

Mizuho cut shares of Surgery Partners (NASDAQ:SGRY) from an outperform rating to a neutral rating in a report issued on Wednesday morning, Marketbeat.com reports. Mizuho currently has $25.00 price objective on the stock, up from their prior price objective of $19.00.

SGRY has been the topic of a number of other reports. Zacks Research lowered shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. UBS Group cut shares of Surgery Partners from a “buy” rating to a “hold” rating and increased their price target for the stock from $21.00 to $23.50 in a research report on Wednesday, October 28th. Raymond James Financial set a $23.50 price objective on shares of Surgery Partners in a research note on Monday, October 26th. TD Cowen cut shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Surgery Partners presently has an average rating of “Hold” and an average price target of $20.70.

Surgery Partners Trading Up 1.4%

Shares of NASDAQ SGRY opened at $26.95 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.78 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $3.53 billion, a PE ratio of 126.57 and a beta of 1.85. Surgery Partners has a twelve month low of $11.41 and a twelve month high of $27.23. The stock has a fifty day simple moving average of $17.30 and a 200-day simple moving average of $15.10.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Monday, November 9th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Surgery Partners had a positive return on equity of 0.98% and a negative net margin of 2.59%. The firm had revenue of $815.30 million for the quarter, compared to analyst estimates of $820.96 million. During the same quarter in the prior year, the company earned $0.13 EPS. Surgery Partners’s revenue was down .8% on a year-over-year basis. On average, equities analysts forecast that Surgery Partners will post 0.07 earnings per share for the current year.

Insider Activity at Surgery Partners

In other news, Director Teresa DeLuca bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the purchase, the director owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. This represents a 17.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SGRY. Public Employees Retirement System of Ohio purchased a new stake in shares of Surgery Partners in the 2nd quarter valued at approximately $38,000. PNC Financial Services Group Inc. raised its holdings in shares of Surgery Partners by 239.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock valued at $35,000 after purchasing an additional 2,051 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Surgery Partners by 5,324.0% during the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after purchasing an additional 3,993 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Surgery Partners during the 2nd quarter worth $216,000. Finally, Vise Technologies Inc. purchased a new stake in shares of Surgery Partners during the 3rd quarter worth $191,000.

Surgery Partners Company Profile

Surgery Partners, Inc. is a U.S. healthcare services company that owns and operates ambulatory surgery centers and surgical hospitals. Its facilities provide outpatient and inpatient surgical care across a range of specialties. The company’s services include surgical procedures and related care delivered in partnership with physicians and healthcare professionals. Its network serves patients in multiple states across the United States. Founded in 2004, Surgery Partners has expanded its network through acquisitions and partnerships with physicians and health systems.