Surgery Partners, Inc. (NASDAQ:SGRY) Receives $22.18 Average Price Target from Analysts

Surgery Partners, Inc. (NASDAQ:SGRY) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $22.1818.

Several analysts have issued reports on SGRY shares. Jefferies Financial Group reissued a “buy” rating and issued a $17.00 price objective on shares of Surgery Partners in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Surgery Partners in a research note on Tuesday, May 26th. Finally, Zacks Research raised Surgery Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th.

Surgery Partners Trading Up 4.7%

Shares of SGRY opened at $16.64 on Friday. Surgery Partners has a twelve month low of $11.41 and a twelve month high of $24.10. The company has a market cap of $2.18 billion, a P/E ratio of -27.73, a P/E/G ratio of 4.75 and a beta of 1.89. The company has a current ratio of 1.86, a quick ratio of 1.69 and a debt-to-equity ratio of 1.17. The company’s fifty day simple moving average is $14.83 and its 200-day simple moving average is $14.44.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.12. The firm had revenue of $810.90 million during the quarter, compared to analyst estimates of $797.69 million. Surgery Partners had a negative net margin of 2.28% and a positive return on equity of 1.04%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $0.04 EPS. As a group, analysts expect that Surgery Partners will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Surgery Partners

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Surgery Partners by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock worth $1,085,000 after purchasing an additional 2,015 shares during the period. Millennium Management LLC boosted its stake in shares of Surgery Partners by 1,253.7% during the first quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock valued at $4,804,000 after purchasing an additional 219,806 shares during the period. Empowered Funds LLC boosted its stake in shares of Surgery Partners by 11.0% during the first quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock valued at $305,000 after purchasing an additional 1,278 shares during the period. Prudential Financial Inc. bought a new position in shares of Surgery Partners in the second quarter worth about $219,000. Finally, Invesco Ltd. grew its holdings in shares of Surgery Partners by 7.4% in the second quarter. Invesco Ltd. now owns 1,683,311 shares of the company’s stock worth $37,420,000 after purchasing an additional 115,627 shares during the last quarter.

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.