Surgery Partners’ (SGRY) Buy Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of Surgery Partners (NASDAQ:SGRY) in a research note published on Wednesday morning, Benzinga reports. They currently have a $50.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. Citigroup decreased their price target on Surgery Partners from $43.00 to $42.00 and set a buy rating for the company in a report on Tuesday, February 27th. Royal Bank of Canada reaffirmed an outperform rating and issued a $49.00 price objective on shares of Surgery Partners in a research report on Thursday, February 29th. StockNews.com raised shares of Surgery Partners from a sell rating to a hold rating in a research report on Thursday, March 21st. Cantor Fitzgerald reaffirmed an overweight rating and issued a $43.00 target price on shares of Surgery Partners in a report on Wednesday, April 10th. Finally, Barclays initiated coverage on Surgery Partners in a report on Wednesday, March 6th. They set an equal weight rating and a $35.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $43.63.

Surgery Partners Stock Performance

NASDAQ SGRY opened at $24.63 on Wednesday. The company has a fifty day simple moving average of $27.96 and a 200 day simple moving average of $29.76. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.71 and a quick ratio of 1.57. Surgery Partners has a 12-month low of $22.05 and a 12-month high of $45.79.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Monday, February 26th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The company had revenue of $735.40 million for the quarter, compared to analyst estimates of $741.93 million. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. As a group, sell-side analysts expect that Surgery Partners will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Surgery Partners

In related news, CEO Jason Eric Evans sold 5,780 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $35.08, for a total value of $202,762.40. Following the completion of the transaction, the chief executive officer now directly owns 419,118 shares of the company’s stock, valued at approximately $14,702,659.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO David T. Doherty sold 2,306 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $31.89, for a total value of $73,538.34. Following the sale, the chief financial officer now owns 75,229 shares in the company, valued at $2,399,052.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason Eric Evans sold 5,780 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $35.08, for a total value of $202,762.40. Following the transaction, the chief executive officer now owns 419,118 shares of the company’s stock, valued at $14,702,659.44. The disclosure for this sale can be found here. Insiders have sold a total of 18,774 shares of company stock valued at $608,352 over the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Surgery Partners

A number of large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new stake in Surgery Partners during the third quarter valued at approximately $39,000. Strs Ohio bought a new stake in shares of Surgery Partners during the 4th quarter worth $51,000. Signaturefd LLC purchased a new position in Surgery Partners in the third quarter worth $56,000. Nisa Investment Advisors LLC increased its stake in Surgery Partners by 69.7% in the third quarter. Nisa Investment Advisors LLC now owns 2,945 shares of the company’s stock valued at $86,000 after acquiring an additional 1,210 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. raised its position in Surgery Partners by 12.4% during the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 3,388 shares of the company’s stock valued at $108,000 after purchasing an additional 373 shares in 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.