Surgery Partners (NASDAQ:SGRY) Earns “Outperform” Rating from Macquarie

Macquarie reissued their outperform rating on shares of Surgery Partners (NASDAQ:SGRY) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $34.00 target price on the stock.

SGRY has been the subject of several other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $43.00 target price on shares of Surgery Partners in a research note on Friday, October 4th. KeyCorp assumed coverage on shares of Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. Benchmark reaffirmed a “buy” rating and set a $50.00 target price on shares of Surgery Partners in a research report on Monday, August 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $49.00 price target on shares of Surgery Partners in a research note on Wednesday, August 7th. Finally, UBS Group initiated coverage on Surgery Partners in a report on Monday, October 14th. They set a “buy” rating and a $38.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.71.

Surgery Partners Stock Down 1.5 %

SGRY stock opened at $23.01 on Tuesday. The firm’s 50-day moving average is $30.02 and its two-hundred day moving average is $28.37. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -48.67, a price-to-earnings-growth ratio of 16.71 and a beta of 2.76. Surgery Partners has a 52 week low of $21.36 and a 52 week high of $36.92. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). The firm had revenue of $770.40 million for the quarter, compared to the consensus estimate of $768.99 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. Surgery Partners’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. On average, analysts forecast that Surgery Partners will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGRY. Janus Henderson Group PLC lifted its holdings in shares of 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 last quarter. Deerfield Management Company L.P. Series C raised its position in Surgery Partners by 47.7% during the second quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock valued at $111,986,000 after acquiring an additional 1,520,484 shares in the last quarter. King Street Capital Management L.P. acquired a new stake in Surgery Partners in the third quarter valued at approximately $46,748,000. Point72 Asset Management L.P. bought a new stake in Surgery Partners in the second quarter worth approximately $29,288,000. Finally, Victory Capital Management Inc. grew its position in Surgery Partners by 140.4% in the third quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company’s stock worth $42,892,000 after acquiring an additional 777,038 shares in the last quarter.

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.