Surgery Partners (NASDAQ:SGRY) Price Target Cut to $35.00 by Analysts at Royal Bank of Canada

Surgery Partners (NASDAQ:SGRY) had its price target decreased by analysts at Royal Bank of Canada from $49.00 to $35.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 57.30% from the company’s previous close.

A number of other research firms have also commented on SGRY. StockNews.com lowered shares of Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. KeyCorp began coverage on shares of Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Macquarie reissued an “outperform” rating and set a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday. UBS Group started coverage on Surgery Partners in a research note on Monday, October 14th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Citigroup dropped their price target on Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Surgery Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.71.

Surgery Partners Trading Down 2.2 %

Shares of NASDAQ SGRY traded down $0.50 during trading on Wednesday, reaching $22.25. The company had a trading volume of 224,965 shares, compared to its average volume of 963,721. The company’s fifty day moving average price is $30.45 and its 200-day moving average price is $28.46. Surgery Partners has a 12 month low of $21.36 and a 12 month high of $36.92. The stock has a market cap of $2.83 billion, a P/E ratio of -46.35, a PEG ratio of 16.86 and a beta of 2.76. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The firm had revenue of $770.40 million during the quarter, compared to the consensus estimate of $768.99 million. During the same period in the prior year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, research analysts expect that Surgery Partners will post 0.83 earnings per share for the current year.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds have recently added to or reduced their stakes in SGRY. Royce & Associates LP raised its stake in shares of Surgery Partners by 12.2% in the third quarter. Royce & Associates LP now owns 510,261 shares of the company’s stock worth $16,451,000 after purchasing an additional 55,545 shares during the last quarter. Bamco Inc. NY raised its position in Surgery Partners by 100.0% in the 1st quarter. Bamco Inc. NY now owns 90,000 shares of the company’s stock valued at $2,685,000 after buying an additional 45,000 shares during the last quarter. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Surgery Partners in the 2nd quarter worth $4,163,000. Rhumbline Advisers raised its holdings in shares of Surgery Partners by 19.6% in the second quarter. Rhumbline Advisers now owns 127,952 shares of the company’s stock valued at $3,044,000 after purchasing an additional 20,963 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Surgery Partners during the second quarter worth about $29,288,000.

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.