Surgery Partners (NASDAQ:SGRY) Price Target Lowered to $33.00 at Macquarie

Surgery Partners (NASDAQ:SGRY) had its price objective cut by Macquarie from $34.00 to $33.00 in a report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

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

Surgery Partners Stock Up 0.9 %

Shares of NASDAQ:SGRY opened at $23.61 on Tuesday. The firm has a 50 day simple moving average of $23.53 and a 200-day simple moving average of $26.14. Surgery Partners has a twelve month low of $19.50 and a twelve month high of $33.97. The company has a market capitalization of $3.01 billion, a PE ratio of -49.19, a P/E/G ratio of 19.21 and a beta of 2.73. 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 released its quarterly earnings results on Monday, March 3rd. The company reported $0.39 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $828.09 million. On average, equities analysts predict that Surgery Partners will post 0.67 EPS for the current fiscal year.

Insider Activity at Surgery Partners

In related news, CEO Jason Eric Evans sold 26,520 shares of the firm’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 value of $680,238.00. Following the transaction, the chief executive officer now owns 560,698 shares in the company, valued at approximately $14,381,903.70. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Marissa Brittenham sold 3,156 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the sale, the insider now directly owns 63,408 shares of the company’s stock, valued at $1,527,498.72. This trade represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,622 shares of company stock valued at $2,717,860. Insiders own 2.30% of the company’s stock.

Institutional Trading of Surgery Partners

A number of hedge funds have recently made changes to their positions in SGRY. Principal Financial Group Inc. bought a new position in Surgery Partners during the third quarter worth $1,469,000. State of New Jersey Common Pension Fund D bought a new stake in Surgery Partners in the third quarter valued at $1,968,000. Versor Investments LP bought a new stake in Surgery Partners in the third quarter valued at $271,000. WCM Investment Management LLC lifted its stake in Surgery Partners by 0.3% in the third quarter. WCM Investment Management LLC now owns 522,084 shares of the company’s stock valued at $16,665,000 after buying an additional 1,819 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake 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 valued at $42,892,000 after buying an additional 777,038 shares during 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.