Surgery Partners (NASDAQ:SGRY) Earns “Outperform” Rating from Royal Bank of Canada

Surgery Partners (NASDAQ:SGRY)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $35.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 42.65% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Bank of America began coverage on Surgery Partners in a report on Monday, December 16th. They issued a “buy” rating and a $30.00 price target on the stock. Macquarie decreased their price target on shares of Surgery Partners from $34.00 to $33.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.63.

Surgery Partners Stock Performance

Shares of SGRY traded up $0.15 during trading hours on Tuesday, hitting $24.54. The company’s stock had a trading volume of 104,075 shares, compared to its average volume of 1,330,318. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -51.11, a PEG ratio of 19.21 and a beta of 2.73. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. The business has a 50 day simple moving average of $23.99 and a two-hundred day simple moving average of $25.69. Surgery Partners has a 52-week low of $19.50 and a 52-week high of $33.97.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Monday, March 3rd. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $864.40 million during the quarter, compared to the consensus estimate of $828.09 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. On average, equities analysts expect that Surgery Partners will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Harrison R. Bane sold 56,315 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $25.64, for a total value of $1,443,916.60. Following the sale, the insider now directly owns 107,037 shares of the company’s stock, valued at $2,744,428.68. The trade was a 34.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David T. Doherty sold 6,733 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $24.02, for a total value of $161,726.66. Following the completion of the sale, the chief financial officer now owns 150,868 shares in the company, valued at $3,623,849.36. The trade was a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,622 shares of company stock valued at $2,717,860 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Surgery Partners

Institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC lifted its holdings in shares of Surgery Partners by 3.0% during the third quarter. Natixis Advisors LLC now owns 12,828 shares of the company’s stock valued at $414,000 after purchasing an additional 376 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Surgery Partners by 12.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company’s stock valued at $91,000 after acquiring an additional 465 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Surgery Partners by 2.8% during the fourth quarter. Mackenzie Financial Corp now owns 21,974 shares of the company’s stock valued at $465,000 after purchasing an additional 599 shares during the last quarter. Wells Fargo & Company MN lifted its position in Surgery Partners by 1.4% during the fourth quarter. Wells Fargo & Company MN now owns 56,931 shares of the company’s stock valued at $1,205,000 after purchasing an additional 783 shares during the period. Finally, MeadowBrook Investment Advisors LLC boosted its holdings in Surgery Partners by 16.6% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company’s stock worth $218,000 after purchasing an additional 1,460 shares during 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.