Surgery Partners (NASDAQ:SGRY) Given New $33.00 Price Target at Macquarie

Surgery Partners (NASDAQ:SGRY) had its price objective reduced by research analysts at Macquarie from $34.00 to $33.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s target price would indicate a potential upside of 39.48% from the stock’s current price.

Several other equities research analysts also recently commented on SGRY. Bank of America started coverage on shares of Surgery Partners in a research note on Monday, December 16th. They issued a “buy” rating and a $30.00 target price on the stock. Royal Bank of Canada reduced their price target on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.63.

Surgery Partners Trading Down 1.6 %

Shares of SGRY stock opened at $23.66 on Tuesday. The firm has a fifty day moving average of $23.39 and a 200-day moving average of $26.25. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -49.29, a P/E/G ratio of 19.21 and a beta of 2.73. Surgery Partners has a 52-week low of $19.50 and a 52-week high of $33.97. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80.

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

Insider Buying and Selling

In related news, CEO Jason Eric Evans sold 26,520 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $25.65, for a total transaction of $680,238.00. Following the completion of the sale, the chief executive officer now directly owns 560,698 shares of the company’s stock, valued at $14,381,903.70. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Harrison R. Bane sold 56,315 shares of Surgery Partners stock in a transaction on 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 sale, the insider now directly owns 107,037 shares of the company’s stock, valued at $2,744,428.68. This represents a 34.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,733 shares of company stock worth $2,480,106 in the last quarter. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SGRY. Janus Henderson Group PLC boosted its holdings in Surgery Partners by 110.2% during the fourth 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 during the last quarter. King Street Capital Management L.P. acquired a new stake in Surgery Partners in the third quarter worth $46,748,000. Point72 Asset Management L.P. boosted its position in shares of Surgery Partners by 224.7% during the fourth 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 in the last quarter. American Century Companies Inc. grew its holdings in shares of 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 buying an additional 967,534 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Surgery Partners by 140.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company’s stock valued at $42,892,000 after buying an additional 777,038 shares in the last quarter.

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.