Benchmark Cuts Surgery Partners (NASDAQ:SGRY) Price Target to $30.00

Surgery Partners (NASDAQ:SGRY) had its price target cut by Benchmark from $35.00 to $30.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. began coverage on Surgery Partners in a research report on Thursday, September 18th. They issued a “neutral” rating and a $27.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surgery Partners in a research note on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $36.00 price objective on shares of Surgery Partners in a report on Tuesday, October 7th. Finally, Bank of America initiated coverage on Surgery Partners in a research note on Monday, July 28th. They issued a “buy” rating and a $28.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.75.

Surgery Partners Stock Performance

Shares of SGRY stock opened at $15.31 on Tuesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.78 and a current ratio of 1.93. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -10.71 and a beta of 1.85. Surgery Partners has a 52 week low of $15.18 and a 52 week high of $26.16. The firm’s 50-day simple moving average is $21.08 and its two-hundred day simple moving average is $22.01.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Monday, November 10th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $821.50 million for the quarter, compared to the consensus estimate of $823.55 million. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. Surgery Partners has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Surgery Partners will post 0.67 earnings per share for the current year.

Insider Buying and Selling at Surgery Partners

In related news, insider Harrison R. Bane sold 9,339 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $22.48, for a total transaction of $209,940.72. Following the sale, the insider directly owned 117,181 shares in the company, valued at approximately $2,634,228.88. The trade was a 7.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position 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 valued at $164,778,000 after acquiring an additional 424,518 shares during the period. Wellington Management Group LLP increased its holdings in Surgery Partners by 19.7% during the 1st quarter. Wellington Management Group LLP now owns 7,091,756 shares of the company’s stock worth $168,429,000 after acquiring an additional 1,165,667 shares during the period. King Street Capital Management L.P. lifted its stake in Surgery Partners by 24.5% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Surgery Partners by 25.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,860,215 shares of the company’s stock worth $105,177,000 after purchasing an additional 988,956 shares in the last quarter. Finally, UBS Group AG boosted its holdings in Surgery Partners by 50.6% in the 3rd quarter. UBS Group AG now owns 3,690,922 shares of the company’s stock valued at $79,872,000 after purchasing an additional 1,239,549 shares during the period.

Surgery Partners Company Profile

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.