Surgery Partners (NASDAQ:SGRY) Coverage Initiated by Analysts at Bank of America

Bank of America assumed coverage on shares of Surgery Partners (NASDAQ:SGRY - Free Report) in a research report released on Monday, Marketbeat.com reports. The firm issued a buy rating and a $30.00 price target on the stock.

A number of other equities analysts also recently commented on SGRY. JPMorgan Chase & Co. reduced 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 note on Tuesday, December 3rd. KeyCorp initiated coverage on Surgery Partners in a research report on Friday, October 11th. They issued a "sector weight" rating for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $43.00 price objective on shares of Surgery Partners in a research report on Friday, October 4th. Benchmark reiterated a "buy" rating and issued a $50.00 target price on shares of Surgery Partners in a report on Monday, August 26th. Finally, UBS Group initiated coverage on shares of Surgery Partners in a report on Monday, October 14th. They issued a "buy" rating and a $38.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.56.

Surgery Partners Stock Up 6.1 %

Shares of SGRY traded up $1.24 during midday trading on Monday, reaching $21.60. 2,020,790 shares of the stock were exchanged, compared to its average volume of 992,929. The company has a market capitalization of $2.75 billion, a P/E ratio of -45.00, a PEG ratio of 17.40 and a beta of 2.58. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. Surgery Partners has a 52 week low of $19.90 and a 52 week high of $35.29. The company's 50 day moving average is $26.93 and its two-hundred day moving average is $27.98.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The business had revenue of $770.40 million for the quarter, compared to the consensus estimate of $768.99 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate that Surgery Partners will post 0.71 earnings per share for the current year.

Institutional Trading of Surgery Partners

A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in Surgery Partners by 190.0% during the 2nd quarter. SG Americas Securities LLC now owns 17,276 shares of the company's stock valued at $411,000 after purchasing an additional 11,318 shares in the last quarter. Raymond James & Associates increased its stake in Surgery Partners by 6.8% during the 2nd quarter. Raymond James & Associates now owns 68,872 shares of the company's stock valued at $1,638,000 after purchasing an additional 4,370 shares in the last quarter. MeadowBrook Investment Advisors LLC increased its stake in Surgery Partners by 15.9% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 12,320 shares of the company's stock valued at $293,000 after purchasing an additional 1,690 shares in the last quarter. Tranquility Partners LLC increased its stake in Surgery Partners by 7.3% during the 2nd quarter. Tranquility Partners LLC now owns 61,892 shares of the company's stock valued at $1,472,000 after purchasing an additional 4,192 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Surgery Partners by 12.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 347,485 shares of the company's stock valued at $8,267,000 after purchasing an additional 38,285 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.