Surgery Partners Inc. (SGRY) Given Average Rating of “Buy” by Analysts
Surgery Partners Inc. (NASDAQ:SGRY) has been assigned a consensus rating of “Buy” from the eleven brokerages that are covering the company. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $22.44.
Several research analysts have recently issued reports on the company. Zacks Investment Research cut Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Barclays PLC assumed coverage on Surgery Partners in a research note on Wednesday, July 13th. They issued an “equal weight” rating and a $20.00 price target for the company. Finally, Jefferies Group reissued a “buy” rating and issued a $27.00 price target on shares of Surgery Partners in a research note on Wednesday, August 10th.
In other news, VP Jennifer Baldock sold 2,500 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $19.20, for a total transaction of $48,000.00. Following the completion of the sale, the vice president now directly owns 66,983 shares of the company’s stock, valued at $1,286,073.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.10% of the company’s stock.
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Several large investors have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. increased its stake in shares of Surgery Partners by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,752,850 shares of the company’s stock valued at $49,276,000 after buying an additional 543,100 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Surgery Partners by 1.0% in the second quarter. TimesSquare Capital Management LLC now owns 1,995,000 shares of the company’s stock valued at $35,711,000 after buying an additional 20,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Surgery Partners by 18.4% in the second quarter. Vanguard Group Inc. now owns 1,310,232 shares of the company’s stock valued at $23,453,000 after buying an additional 203,651 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in shares of Surgery Partners during the second quarter valued at approximately $19,143,000. Finally, Cortina Asset Management LLC bought a new stake in shares of Surgery Partners during the second quarter valued at approximately $12,327,000. 38.32% of the stock is owned by institutional investors and hedge funds.
Shares of Surgery Partners (NASDAQ:SGRY) traded down 1.11% on Tuesday, reaching $19.68. 49,742 shares of the company traded hands. The company has a market capitalization of $955.07 million and a PE ratio of 106.38. The firm has a 50-day moving average of $19.33 and a 200-day moving average of $16.69. Surgery Partners has a 52-week low of $11.76 and a 52-week high of $22.32.
Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Tuesday, August 9th. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Surgery Partners had a return on equity of 18.80% and a net margin of 2.63%. The firm had revenue of $289.70 million for the quarter, compared to analyst estimates of $275.99 million. Surgery Partners’s quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts forecast that Surgery Partners will post $0.63 earnings per share for the current fiscal year.
About Surgery Partners
Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.
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