Surgery Partners (NASDAQ:SGRY) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Surgery Partners (NASDAQ:SGRY) in a research note issued to investors on Wednesday, Benzinga reports. Cantor Fitzgerald currently has a $43.00 target price on the stock.

Several other equities analysts have also recently issued reports on SGRY. StockNews.com raised shares of Surgery Partners from a sell rating to a hold rating in a research note on Thursday, March 21st. Barclays initiated coverage on shares of Surgery Partners in a research note on Wednesday, March 6th. They issued an equal weight rating and a $35.00 price objective on the stock. Citigroup lowered their price objective on shares of Surgery Partners from $43.00 to $42.00 and set a buy rating on the stock in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $49.00 target price on shares of Surgery Partners in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $43.63.

Surgery Partners Stock Down 4.8 %

Surgery Partners stock opened at $26.26 on Wednesday. The company’s 50-day moving average price is $30.50 and its two-hundred day moving average price is $30.05. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -262.60, a PEG ratio of 2.42 and a beta of 2.71. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 0.89. Surgery Partners has a 52 week low of $22.05 and a 52 week high of $45.79.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $735.40 million for the quarter, compared to analysts’ expectations of $741.93 million. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. On average, analysts expect that Surgery Partners will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Surgery Partners news, CEO Jason Eric Evans sold 1,984 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $29.44, for a total value of $58,408.96. Following the completion of the transaction, the chief executive officer now directly owns 464,510 shares in the company, valued at $13,675,174.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Marissa Brittenham sold 1,637 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $31.89, for a total transaction of $52,203.93. Following the completion of the sale, the insider now directly owns 30,469 shares in the company, valued at $971,656.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jason Eric Evans sold 1,984 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $29.44, for a total transaction of $58,408.96. Following the sale, the chief executive officer now owns 464,510 shares of the company’s stock, valued at $13,675,174.40. The disclosure for this sale can be found here. Insiders sold a total of 18,774 shares of company stock worth $608,352 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Surgery Partners

Several institutional investors have recently made changes to their positions in SGRY. Raymond James & Associates boosted its holdings in shares of Surgery Partners by 7.9% during the first quarter. Raymond James & Associates now owns 37,700 shares of the company’s stock worth $2,075,000 after purchasing an additional 2,758 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Surgery Partners by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 137,662 shares of the company’s stock worth $7,578,000 after purchasing an additional 900 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Surgery Partners by 34.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,195 shares of the company’s stock worth $66,000 after purchasing an additional 308 shares during the period. MetLife Investment Management LLC raised its position in Surgery Partners by 54.2% during the first quarter. MetLife Investment Management LLC now owns 18,141 shares of the company’s stock valued at $999,000 after acquiring an additional 6,374 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new position in Surgery Partners during the first quarter valued at approximately $851,000.

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.