Macquarie Has Lowered Expectations for Surgery Partners (NASDAQ:SGRY) Stock Price

Surgery Partners (NASDAQ:SGRY - Get Free Report) had its price target decreased by investment analysts at Macquarie from $34.00 to $33.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Macquarie's target price points to a potential upside of 39.48% from the company's previous close.

A number of other equities analysts also recently commented on the company. Bank of America initiated coverage on Surgery Partners in a report on Monday, December 16th. They issued a "buy" rating and a $30.00 price objective on the stock. Royal Bank of Canada decreased their target price on shares of Surgery Partners from $49.00 to $35.00 and set an "outperform" rating for the company in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Surgery Partners from $38.00 to $28.00 and set a "neutral" rating on the stock in a 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.63.

Surgery Partners Trading Down 1.6 %

NASDAQ:SGRY opened at $23.66 on Tuesday. The stock has a market cap of $3.01 billion, a PE ratio of -49.29, a price-to-earnings-growth ratio of 19.21 and a beta of 2.73. Surgery Partners has a fifty-two week low of $19.50 and a fifty-two week high of $33.97. 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 stock's 50-day moving average is $23.39 and its two-hundred day moving average is $26.25.

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

Insiders Place Their Bets

In other news, CEO Jason Eric Evans sold 26,520 shares of Surgery Partners stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $25.65, for a total value of $680,238.00. Following the transaction, the chief executive officer now directly owns 560,698 shares in the company, valued at approximately $14,381,903.70. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Harrison R. Bane sold 56,315 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $25.64, for a total value of $1,443,916.60. Following the sale, the insider now owns 107,037 shares of the company's stock, valued at approximately $2,744,428.68. The trade was a 34.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,733 shares of company stock valued at $2,480,106 in the last quarter. Insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Surgery Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new position in Surgery Partners during the 3rd quarter valued at $1,469,000. King Street Capital Management L.P. bought a new position in shares of Surgery Partners during the 3rd quarter worth about $46,748,000. Royce & Associates LP raised its position in shares of Surgery Partners by 12.2% during the third quarter. Royce & Associates LP now owns 510,261 shares of the company's stock valued at $16,451,000 after buying an additional 55,545 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Surgery Partners by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company's stock valued at $60,117,000 after buying an additional 42,897 shares during the period. Finally, Victory Capital Management Inc. grew its position in Surgery Partners by 140.4% during the third quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company's stock worth $42,892,000 after buying an additional 777,038 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.

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