Surgery Partners (NASDAQ:SGRY) Earns Outperform Rating from Analysts at Macquarie

Macquarie assumed coverage on shares of Surgery Partners (NASDAQ:SGRY) in a research report released on Friday morning, Marketbeat reports. The brokerage issued an outperform rating and a $31.00 target price on the stock.

Several other research firms have also issued reports on SGRY. StockNews.com raised Surgery Partners from a sell rating to a hold rating in a research note on Thursday, March 21st. Citigroup dropped their price target on Surgery Partners from $42.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Royal Bank of Canada restated an outperform rating and issued a $49.00 target price on shares of Surgery Partners in a research report on Thursday, February 29th. Barclays assumed coverage on shares of Surgery Partners in a research report on Wednesday, March 6th. They set an equal weight rating and a $35.00 price target on the stock. Finally, Benchmark reiterated a buy rating and issued a $50.00 target price on shares of Surgery Partners in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $41.38.

Surgery Partners Trading Down 2.2 %

NASDAQ:SGRY opened at $23.79 on Friday. Surgery Partners has a 12 month low of $22.05 and a 12 month high of $45.79. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.80 and a beta of 2.73. The firm has a fifty day simple moving average of $25.45 and a two-hundred day simple moving average of $28.84.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Tuesday, May 7th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $717.40 million for the quarter, compared to analyst estimates of $707.66 million. Surgery Partners had a net margin of 0.02% and a return on equity of 3.65%. Analysts expect that Surgery Partners will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling at Surgery Partners

In other news, insider Bradley R. Owens sold 6,000 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $27.65, for a total transaction of $165,900.00. Following the transaction, the insider now directly owns 72,338 shares of the company’s stock, valued at approximately $2,000,145.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its stake in shares of Surgery Partners by 102.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock valued at $80,000 after purchasing an additional 1,375 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Surgery Partners by 7,987.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock valued at $74,701,000 after buying an additional 2,473,282 shares during the period. Bamco Inc. NY lifted its position in Surgery Partners by 100.0% in the first quarter. Bamco Inc. NY now owns 90,000 shares of the company’s stock worth $2,685,000 after buying an additional 45,000 shares during the last quarter. Magnetar Financial LLC lifted its position in Surgery Partners by 511.7% in the first quarter. Magnetar Financial LLC now owns 165,466 shares of the company’s stock worth $4,936,000 after buying an additional 138,415 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in Surgery Partners by 257.1% during the first quarter. EntryPoint Capital LLC now owns 6,399 shares of the company’s stock worth $191,000 after buying an additional 4,607 shares during the period.

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.