Brokerages Set Surgery Partners, Inc. (NASDAQ:SGRY) Price Target at $36.63

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $36.63.

A number of research analysts recently commented on SGRY shares. Macquarie reduced their target price on Surgery Partners from $34.00 to $33.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Surgery Partners in a report on Tuesday, March 25th.

Surgery Partners Price Performance

Shares of NASDAQ SGRY opened at $21.22 on Friday. The company has a market capitalization of $2.71 billion, a PE ratio of -44.21, a PEG ratio of 19.21 and a beta of 2.40. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The stock’s 50 day moving average price is $23.54 and its 200-day moving average price is $24.34. Surgery Partners has a twelve month low of $19.50 and a twelve month high of $33.97.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, March 3rd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $864.40 million during the quarter, compared to analyst estimates of $828.09 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. On average, equities analysts anticipate that Surgery Partners will post 0.67 EPS for the current year.

Insider Activity at Surgery Partners

In other news, insider Marissa Brittenham sold 3,156 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $24.09, for a total value of $76,028.04. Following the sale, the insider now directly owns 63,408 shares of the company’s stock, valued at $1,527,498.72. This represents a 4.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Harrison R. Bane sold 56,315 shares of the business’s stock in a transaction on Friday, February 7th. The shares were 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 $2,744,428.68. This represents a 34.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,622 shares of company stock valued at $2,717,860 over the last quarter. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGRY. Principal Financial Group Inc. acquired a new position in shares of Surgery Partners during the 3rd quarter valued at about $1,469,000. Geode Capital Management LLC raised its holdings in Surgery Partners by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company’s stock valued at $60,117,000 after buying an additional 42,897 shares during the period. AlphaCentric Advisors LLC acquired a new position in Surgery Partners in the fourth quarter valued at about $374,000. JPMorgan Chase & Co. boosted its stake in Surgery Partners by 3.0% during the third quarter. JPMorgan Chase & Co. now owns 189,436 shares of the company’s stock worth $6,107,000 after buying an additional 5,551 shares during the period. Finally, Norges Bank purchased a new stake in shares of Surgery Partners in the 4th quarter valued at approximately $15,796,000.

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.