Zacks Investment Research upgraded shares of Surgery Partners Inc. (NASDAQ:SGRY) from a sell rating to a buy rating in a research note published on Saturday. The brokerage currently has $22.00 price target on the stock.
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. “
Other analysts have also issued research reports about the stock. Jefferies Group reaffirmed a buy rating and set a $27.00 price target on shares of Surgery Partners in a research report on Wednesday, August 10th. Barclays PLC initiated coverage on shares of Surgery Partners in a research report on Wednesday, July 13th. They set an equal weight rating and a $20.00 price target on the stock. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock 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 company has a market cap of $974.00 million and a PE ratio of 108.49. The company has a 50-day moving average price of $19.48 and a 200 day moving average price of $16.80.
Surgery Partners (NASDAQ:SGRY) last released its earnings results on Tuesday, August 9th. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. Surgery Partners had a net margin of 2.63% and a return on equity of 18.80%. The business had revenue of $289.70 million for the quarter, compared to analyst estimates of $275.99 million. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities research analysts forecast 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 business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $19.20, for a total value of $48,000.00. Following the sale, the vice president now owns 66,983 shares of the company’s stock, valued at $1,286,073.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.10% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of SGRY. Vaughan Nelson Investment Management L.P. increased its position in Surgery Partners by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,752,850 shares of the company’s stock valued at $49,276,000 after buying an additional 543,100 shares during the period. TimesSquare Capital Management LLC increased its position in Surgery Partners by 1.0% in the second quarter. TimesSquare Capital Management LLC now owns 1,995,000 shares of the company’s stock valued at $35,711,000 after buying an additional 20,000 shares during the period. Vanguard Group Inc. increased its position in Surgery Partners by 18.4% in the second quarter. Vanguard Group Inc. now owns 1,310,232 shares of the company’s stock valued at $23,453,000 after buying an additional 203,651 shares during the period. Neuberger Berman Group LLC acquired a new position in Surgery Partners during the second quarter valued at approximately $19,143,000. Finally, Cortina Asset Management LLC acquired a new position in Surgery Partners during the second quarter valued at approximately $12,327,000. 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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