Surgery Partners (NASDAQ:SGRY) Coverage Initiated at KeyCorp

KeyCorp assumed coverage on shares of Surgery Partners (NASDAQ:SGRY – Free Report) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The firm issued a sector weight rating on the stock.

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A number of other equities analysts have also weighed in on the stock. Citigroup cut their target price on shares of Surgery Partners from $38.00 to $36.00 and set a buy rating for the company in a research report on Wednesday, August 7th. Macquarie initiated coverage on shares of Surgery Partners in a report on Friday, June 28th. They set an outperform rating and a $31.00 target price on the stock. Royal Bank of Canada restated an outperform rating and set a $49.00 target price on shares of Surgery Partners in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an overweight rating and issued a $43.00 price target on shares of Surgery Partners in a research report on Friday, October 4th. Finally, StockNews.com cut Surgery Partners from a hold rating to a sell rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $39.86.

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Surgery Partners Stock Performance

SGRY traded up $0.12 during trading on Friday, hitting $30.46. 424,989 shares of the company traded hands, compared to its average volume of 956,735. Surgery Partners has a one year low of $22.05 and a one year high of $36.92. The stock’s fifty day moving average is $30.76 and its 200 day moving average is $27.82. The company has a quick ratio of 1.69, a current ratio of 1.83 and a debt-to-equity ratio of 0.96. The firm has a market cap of $3.87 billion, a P/E ratio of -112.37, a price-to-earnings-growth ratio of 2.28 and a beta of 2.75.

Surgery Partners (NASDAQ:SGRY – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $762.10 million during the quarter, compared to analyst estimates of $735.94 million. Surgery Partners had a positive return on equity of 2.96% and a negative net margin of 1.17%. Surgery Partners’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, equities analysts predict that Surgery Partners will post 0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SGRY. First Eagle Investment Management LLC increased its holdings in shares of Surgery Partners by 16.5% in the 1st quarter. First Eagle Investment Management LLC now owns 339,474 shares of the company’s stock worth $10,127,000 after buying an additional 48,100 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Surgery Partners by 33.7% in the 1st quarter. BNP Paribas Financial Markets now owns 421,137 shares of the company’s stock worth $12,563,000 after purchasing an additional 106,054 shares in the last quarter. Bamco Inc. NY increased its position in shares of Surgery Partners by 100.0% during the 1st quarter. Bamco Inc. NY now owns 90,000 shares of the company’s stock valued at $2,685,000 after purchasing an additional 45,000 shares during the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Surgery Partners during the 2nd quarter valued at about $4,163,000. Finally, Rhumbline Advisers lifted its position in Surgery Partners by 19.6% in the 2nd quarter. Rhumbline Advisers now owns 127,952 shares of the company’s stock worth $3,044,000 after buying an additional 20,963 shares during the last quarter.

Surgery Partners Company Profile

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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.

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