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

Surgery Partners (NASDAQ:SGRY - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $35.00 price objective on the stock. Royal Bank of Canada's price target would indicate a potential upside of 46.14% from the stock's current price.

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

Surgery Partners Stock Performance

Shares of NASDAQ:SGRY traded down $0.17 during trading on Tuesday, reaching $23.95. The company had a trading volume of 604,842 shares, compared to its average volume of 1,076,819. The stock's fifty day moving average price is $24.31 and its 200 day moving average price is $25.59. 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 firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -49.90, a price-to-earnings-growth ratio of 19.21 and a beta of 2.73.

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

Insider Buying and Selling at Surgery Partners

In other Surgery Partners news, CEO Jason Eric Evans sold 26,520 shares of the firm's 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 sale, the chief executive officer now directly owns 560,698 shares of the company's stock, valued at approximately $14,381,903.70. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David T. Doherty sold 13,641 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $25.61, for a total transaction of $349,346.01. Following the transaction, the chief financial officer now directly owns 108,862 shares of the company's stock, valued at approximately $2,787,955.82. This represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 106,622 shares of company stock worth $2,717,860. Insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Surgery Partners

Several institutional investors and hedge funds have recently bought and sold shares of SGRY. Natixis Advisors LLC grew its stake in shares of Surgery Partners by 3.0% during the 3rd quarter. Natixis Advisors LLC now owns 12,828 shares of the company's stock valued at $414,000 after buying an additional 376 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Surgery Partners by 12.1% in the fourth 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 grew its position in 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 acquiring an additional 599 shares during the period. Wells Fargo & Company MN increased its stake in Surgery Partners by 1.4% during the fourth quarter. Wells Fargo & Company MN now owns 56,931 shares of the company's stock worth $1,205,000 after acquiring an additional 783 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC raised its holdings in shares of Surgery Partners by 16.6% in the 4th 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 period.

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.