Analysts Set Surgery Partners, Inc. (NASDAQ:SGRY) Target Price at $23.36
by Amy Steele · The Cerbat GemSurgery Partners, Inc. (NASDAQ:SGRY – Get Free Report) has received a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $23.3636.
SGRY has been the subject of several analyst reports. UBS Group reiterated a “buy” rating on shares of Surgery Partners in a research note on Wednesday, March 11th. Mizuho cut their price objective on shares of Surgery Partners from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Barclays decreased their price objective on shares of Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. TD Cowen lowered their target price on shares of Surgery Partners from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, US Capital Advisors set a $21.00 target price on Surgery Partners in a research report on Wednesday, March 11th.
Check Out Our Latest Analysis on Surgery Partners
Insider Buying and Selling
In other news, CEO Jason Eric Evans sold 20,400 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $12.47, for a total transaction of $254,388.00. Following the completion of the transaction, the chief executive officer directly owned 920,386 shares of the company’s stock, valued at $11,477,213.42. This represents a 2.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO David T. Doherty sold 8,867 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $12.50, for a total value of $110,837.50. Following the transaction, the chief financial officer owned 221,679 shares in the company, valued at $2,770,987.50. This trade represents a 3.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 96,896 shares of company stock valued at $1,284,058 in the last 90 days. Corporate insiders own 2.70% of the company’s stock.
Hedge Funds Weigh In On Surgery Partners
A number of large investors have recently added to or reduced their stakes in SGRY. Irenic Capital Management LP increased its stake in shares of Surgery Partners by 339.7% during the third quarter. Irenic Capital Management LP now owns 1,132,203 shares of the company’s stock worth $24,501,000 after purchasing an additional 874,704 shares in the last quarter. Groupe la Francaise raised its position in shares of Surgery Partners by 26.6% during the 2nd quarter. Groupe la Francaise now owns 186,088 shares of the company’s stock worth $4,137,000 after purchasing an additional 39,089 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Surgery Partners by 67.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 323,932 shares of the company’s stock valued at $7,010,000 after buying an additional 130,392 shares in the last quarter. SG Americas Securities LLC lifted its stake in Surgery Partners by 3,229.1% in the 4th quarter. SG Americas Securities LLC now owns 566,976 shares of the company’s stock valued at $8,760,000 after buying an additional 549,945 shares in the last quarter. Finally, 8 Knots Management LLC acquired a new stake in Surgery Partners in the 3rd quarter worth about $4,763,000.
Surgery Partners Price Performance
Shares of SGRY stock opened at $12.18 on Friday. The stock has a 50 day moving average of $13.82 and a 200 day moving average of $16.65. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.58 billion, a P/E ratio of -19.64 and a beta of 1.99. Surgery Partners has a twelve month low of $11.41 and a twelve month high of $24.18.
Surgery Partners (NASDAQ:SGRY – Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.19). The company had revenue of $885.00 million during the quarter, compared to analyst estimates of $866.54 million. Surgery Partners had a negative net margin of 2.35% and a positive return on equity of 1.28%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. As a group, sell-side analysts expect that Surgery Partners will post 0.67 EPS for the current year.
Surgery Partners declared that its board has authorized a share repurchase program on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 9.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
About Surgery Partners
Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.
Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.