Surgery Partners Inc. (NASDAQ:SGRY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Saturday. The brokerage currently has a $22.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 9.62% from the stock’s previous close.
According to Zacks, “Surgery Partners, Inc. is a healthcare services company. The Company’s outpatient delivery model focused on providing solutions for surgical and related ancillary care in support of its patients and physicians. Its operating segment consists of Surgical Facility Services segment, Ancillary Services segment and Optical Services segment. Surgery Partners, Inc. is based in Nashville, Tennessee. “
Several other research firms have also recently weighed in on SGRY. Barclays PLC initiated coverage on Surgery Partners in a research note on Wednesday, July 13th. They issued an “equal weight” rating and a $20.00 price target for the company. Jefferies Group restated a “buy” rating and issued a $27.00 price target on shares of Surgery Partners in a research note on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Surgery Partners has an average rating of “Buy” and a consensus price target of $22.40.
Surgery Partners (NASDAQ:SGRY) opened at 20.07 on Friday. Surgery Partners has a 52 week low of $11.76 and a 52 week high of $22.32. The firm has a 50-day moving average price of $19.48 and a 200 day moving average price of $16.80. The company has a market cap of $974.00 million and a P/E ratio of 108.49.
Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Surgery Partners had a return on equity of 18.80% and a net margin of 2.63%. The firm earned $289.70 million during the quarter, compared to analysts’ expectations of $275.99 million. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. Analysts expect that Surgery Partners will post $0.63 EPS for the current fiscal year.
In other Surgery Partners news, VP Jennifer Baldock sold 2,500 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $19.20, for a total value of $48,000.00. Following the completion of the sale, the vice president now owns 66,983 shares in the company, valued at $1,286,073.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 7.10% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of SGRY. Stonerise Capital Management LLC bought a new stake in shares of Surgery Partners during the first quarter worth approximately $5,304,000. Cortina Asset Management LLC bought a new stake in shares of Surgery Partners during the second quarter worth approximately $12,327,000. BlackRock Inc. boosted its stake in shares of Surgery Partners by 3.8% in the first quarter. BlackRock Inc. now owns 17,116 shares of the company’s stock worth $227,000 after buying an additional 632 shares during the last quarter. Bellevue Group AG bought a new stake in shares of Surgery Partners during the first quarter worth approximately $133,000. Finally, Geode Capital Management LLC boosted its stake in shares of Surgery Partners by 1.5% in the first quarter. Geode Capital Management LLC now owns 140,338 shares of the company’s stock worth $1,860,000 after buying an additional 2,103 shares during the last quarter. Institutional investors and hedge funds own 38.32% of the company’s stock.
About Surgery Partners
Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.
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