Royal Bank of Canada Reiterates "Outperform" Rating for Surgery Partners (NASDAQ:SGRY)

Surgery Partners (NASDAQ:SGRY - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $35.00 price target on the stock. Royal Bank of Canada's price target would indicate a potential upside of 45.95% from the stock's previous close.

SGRY has been the topic of a number of other research reports. Macquarie decreased their target price on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price objective on shares of Surgery Partners from $38.00 to $28.00 and set a "neutral" rating for the company in a research report on Tuesday, December 3rd. Finally, Bank of America began coverage on shares of Surgery Partners in a research note on Monday, December 16th. They issued a "buy" rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $36.63.

Surgery Partners Price Performance

Shares of NASDAQ:SGRY traded down $0.14 during midday trading on Tuesday, hitting $23.98. The stock had a trading volume of 237,800 shares, compared to its average volume of 1,074,119. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $3.06 billion, a P/E ratio of -50.00, a price-to-earnings-growth ratio of 19.21 and a beta of 2.73. The company's 50-day moving average price is $24.24 and its 200-day moving average price is $25.63. Surgery Partners has a fifty-two week low of $19.50 and a fifty-two week high of $33.97.

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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 for the quarter, topping the consensus estimate of $0.38 by $0.01. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The firm had revenue of $864.40 million during the quarter, compared to analysts' expectations of $828.09 million. As a group, equities research analysts predict that Surgery Partners will post 0.67 EPS for the current fiscal year.

Insider Activity

In related news, CFO David T. Doherty sold 6,733 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $24.02, for a total transaction of $161,726.66. Following the completion of the transaction, the chief financial officer now directly owns 150,868 shares of the company's stock, valued at $3,623,849.36. This trade represents a 4.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Harrison R. Bane sold 56,315 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now owns 107,037 shares in the company, valued at $2,744,428.68. This trade represents a 34.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,622 shares of company stock valued at $2,717,860. Insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Surgery Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new stake in shares of Surgery Partners during the 3rd quarter worth approximately $1,469,000. King Street Capital Management L.P. acquired a new stake in Surgery Partners in the third quarter worth $46,748,000. Geode Capital Management LLC increased its stake in 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 purchasing an additional 42,897 shares in the last quarter. NFJ Investment Group LLC acquired a new position in shares of Surgery Partners during the third quarter valued at about $1,688,000. Finally, FMR LLC boosted its position in shares of Surgery Partners by 3.1% during the 3rd quarter. FMR LLC now owns 18,311,867 shares of the company's stock worth $590,375,000 after purchasing an additional 546,869 shares in the last quarter.

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.