Surgery Partners (NASDAQ:SGRY) Price Target Lowered to $35.00 at Royal Bank of Canada

Surgery Partners (NASDAQ:SGRY) had its price target decreased by analysts at Royal Bank of Canada from $49.00 to $35.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 49.83% from the company’s current price.

Several other research firms have also recently weighed in on SGRY. UBS Group began coverage on Surgery Partners in a report on Monday, October 14th. They set a “buy” rating and a $38.00 price target for the company. StockNews.com lowered Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Benchmark reissued a “buy” rating and set a $50.00 price target on shares of Surgery Partners in a research note on Monday, August 26th. Macquarie reaffirmed an “outperform” rating and set a $34.00 target price on shares of Surgery Partners in a research report on Tuesday. Finally, Citigroup cut their price target on Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.71.

Surgery Partners Trading Up 3.8 %

Shares of NASDAQ:SGRY opened at $23.36 on Wednesday. The company has a market cap of $2.97 billion, a P/E ratio of -48.67, a PEG ratio of 16.71 and a beta of 2.76. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. Surgery Partners has a 1 year low of $21.36 and a 1 year high of $36.92. The stock’s fifty day moving average price is $30.15 and its 200-day moving average price is $28.40.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The company had revenue of $770.40 million during the quarter, compared to the consensus estimate of $768.99 million. During the same period last year, the business earned $0.15 EPS. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts expect that Surgery Partners will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SGRY. KBC Group NV grew its holdings in shares of Surgery Partners by 31.8% during the third quarter. KBC Group NV now owns 2,385 shares of the company’s stock worth $77,000 after purchasing an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Surgery Partners by 102.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock valued at $80,000 after buying an additional 1,375 shares during the period. Quarry LP boosted its position in Surgery Partners by 133.1% during the 2nd quarter. Quarry LP now owns 3,082 shares of the company’s stock worth $73,000 after purchasing an additional 1,760 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in Surgery Partners by 747.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock worth $124,000 after purchasing an additional 3,379 shares during the period. Finally, Creative Planning acquired a new stake in shares of Surgery Partners in the 3rd quarter valued at about $258,000.

About Surgery Partners

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.