Surgery Partners’ (SGRY) “Buy” Rating Reaffirmed at Benchmark

Posted by Defense World Staff on Mar 7th, 2023

Benchmark reissued their buy rating on shares of Surgery Partners (NASDAQ:SGRY – Get Rating) in a research note published on Monday morning, Benzinga reports. They currently have a $47.00 price objective on the stock.

A number of other equities analysts have also weighed in on SGRY. Citigroup lifted their price target on shares of Surgery Partners from $38.00 to $40.00 in a report on Thursday, March 2nd. JPMorgan Chase & Co. lowered their price target on Surgery Partners from $45.00 to $40.00 and set a neutral rating for the company in a research report on Thursday, March 2nd. Royal Bank of Canada reduced their price objective on Surgery Partners from $58.00 to $48.00 and set an outperform rating on the stock in a research note on Wednesday, November 23rd. Barclays decreased their target price on Surgery Partners from $69.00 to $56.00 and set an overweight rating for the company in a report on Wednesday, January 18th. Finally, Cowen reduced their price target on shares of Surgery Partners to $35.00 in a research report on Wednesday, November 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $42.00.

Surgery Partners Stock Down 2.1 %

SGRY stock opened at $33.27 on Monday. Surgery Partners has a one year low of $20.46 and a one year high of $63.87. The stock has a market capitalization of $2.99 billion, a P/E ratio of -57.36 and a beta of 2.73. The company has a 50 day moving average price of $32.19 and a two-hundred day moving average price of $28.85. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.72 and a current ratio of 1.87.

Surgery Partners (NASDAQ:SGRY – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. Surgery Partners had a negative return on equity of 0.14% and a negative net margin of 2.15%. The firm had revenue of $707.10 million for the quarter, compared to analyst estimates of $688.34 million. As a group, sell-side analysts expect that Surgery Partners will post 0.33 EPS for the current year.

Insider Activity

In related news, insider Marissa Brittenham sold 1,320 shares of the business’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $35.90, for a total value of $47,388.00. Following the transaction, the insider now owns 9,282 shares in the company, valued at $333,223.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Marissa Brittenham sold 1,320 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $35.90, for a total value of $47,388.00. Following the completion of the sale, the insider now directly owns 9,282 shares in the company, valued at approximately $333,223.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Danielle Burkhalter sold 757 shares of the firm’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $33.55, for a total value of $25,397.35. Following the completion of the sale, the insider now owns 12,353 shares in the company, valued at $414,443.15. The disclosure for this sale can be found here. Insiders sold 59,833 shares of company stock worth $2,025,802 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

Several hedge funds have recently modified their holdings of SGRY. Raymond James & Associates raised its holdings in Surgery Partners by 7.9% during the 1st quarter. Raymond James & Associates now owns 37,700 shares of the company’s stock worth $2,075,000 after buying an additional 2,758 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Surgery Partners by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 137,662 shares of the company’s stock worth $7,578,000 after acquiring an additional 900 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Surgery Partners by 34.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,195 shares of the company’s stock valued at $66,000 after purchasing an additional 308 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Surgery Partners by 54.2% in the 1st quarter. MetLife Investment Management LLC now owns 18,141 shares of the company’s stock worth $999,000 after acquiring an additional 6,374 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in shares of Surgery Partners during the first quarter worth approximately $851,000.

About Surgery Partners

(Get Rating)

Surgery Partners, Inc is healthcare services holding company, which engages in the provision of solutions for surgical and related ancillary care in support of its patients and physicians. It operates through the following business segments: Surgical Facility Services, Ancillary Services, and Optical Services.