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

Surgery Partners (NASDAQ:SGRY) had its price objective decreased by equities researchers at Barclays from $18.00 to $14.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 9.44% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Benchmark reduced their target price on Surgery Partners from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research report on Monday, December 29th. UBS Group reduced their price objective on Surgery Partners from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Mizuho lowered their target price on Surgery Partners from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. Finally, Royal Bank Of Canada reduced their price target on shares of Surgery Partners from $35.00 to $31.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Surgery Partners Price Performance

Shares of NASDAQ SGRY traded down $3.09 during mid-day trading on Tuesday, reaching $12.79. The company had a trading volume of 2,339,523 shares, compared to its average volume of 1,605,545. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -9.41 and a beta of 1.95. The business’s 50-day simple moving average is $15.35 and its 200 day simple moving average is $18.33. Surgery Partners has a one year low of $12.25 and a one year high of $24.64. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.72 and a current ratio of 1.88.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.19). Surgery Partners had a positive return on equity of 2.41% and a negative net margin of 5.21%.The firm had revenue of $885.00 million for the quarter, compared to the consensus estimate of $866.54 million. During the same period in the prior year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts predict that Surgery Partners will post 0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surgery Partners

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its holdings in Surgery Partners by 3.8% during the 4th quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company’s stock worth $209,162,000 after acquiring an additional 501,401 shares during the last quarter. Pentwater Capital Management LP raised its stake in shares of Surgery Partners by 66.9% during the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock valued at $252,777,000 after acquiring an additional 4,681,000 shares during the last quarter. UBS Group AG lifted its holdings in shares of Surgery Partners by 111.4% during the fourth quarter. UBS Group AG now owns 7,803,974 shares of the company’s stock worth $120,571,000 after purchasing an additional 4,113,052 shares during the period. Vanguard Group Inc. grew its stake in shares of Surgery Partners by 5.9% in the third quarter. Vanguard Group Inc. now owns 7,614,514 shares of the company’s stock worth $164,778,000 after purchasing an additional 424,518 shares during the last quarter. Finally, King Street Capital Management L.P. grew its stake in shares of Surgery Partners by 24.5% in the second quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company’s stock worth $138,382,000 after purchasing an additional 1,225,000 shares during the last quarter.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.