JPMorgan Chase & Co. Cuts Surgery Partners (NASDAQ:SGRY) Price Target to $28.00

Surgery Partners (NASDAQ:SGRY) had its price objective cut by JPMorgan Chase & Co. from $38.00 to $28.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also weighed in on SGRY. StockNews.com lowered Surgery Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Royal Bank of Canada cut their price target on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $43.00 price objective on shares of Surgery Partners in a research note on Friday, October 4th. Citigroup cut their price objective on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, KeyCorp began coverage on shares of Surgery Partners in a research report on Friday, October 11th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.38.

Surgery Partners Stock Down 3.4 %

SGRY stock opened at $23.00 on Tuesday. The stock has a market capitalization of $2.92 billion, a PE ratio of -47.92, a price-to-earnings-growth ratio of 19.82 and a beta of 2.58. Surgery Partners has a 52 week low of $21.36 and a 52 week high of $36.92. 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 firm has a 50 day moving average of $28.61 and a 200 day moving average of $28.21.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $770.40 million for the quarter, compared to analyst estimates of $768.99 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Sell-side analysts forecast that Surgery Partners will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C boosted its stake in shares of Surgery Partners by 47.7% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock worth $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. purchased a new stake in shares of Surgery Partners in the second quarter valued at approximately $29,288,000. Janus Henderson Group PLC raised its stake in shares of Surgery Partners by 27.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company’s stock worth $177,235,000 after buying an additional 1,184,450 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Surgery Partners by 140.4% during 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.