SVB Leerink Trims Surgery Partners (NASDAQ:SGRY) Target Price to $40.00

Surgery Partners (NASDAQ:SGRYGet Rating) had its price target lowered by SVB Leerink from $55.00 to $40.00 in a report released on Tuesday, MarketBeat reports. The brokerage currently has an outperform rating on the stock. SVB Leerink also issued estimates for Surgery Partners’ Q4 2022 earnings at $0.24 EPS, FY2022 earnings at ($0.01) EPS, Q1 2023 earnings at $0.04 EPS, Q2 2023 earnings at $0.08 EPS, Q3 2023 earnings at $0.09 EPS, Q4 2023 earnings at $0.32 EPS, FY2023 earnings at $0.52 EPS, FY2024 earnings at $0.79 EPS, FY2025 earnings at $1.08 EPS and FY2026 earnings at $1.45 EPS.

A number of other equities research analysts have also recently weighed in on SGRY. Cowen dropped their price target on Surgery Partners to $35.00 in a research note on Wednesday, November 16th. StockNews.com cut Surgery Partners from a hold rating to a sell rating in a research report on Saturday, November 5th. Royal Bank of Canada lowered their price objective on Surgery Partners from $62.00 to $58.00 and set an outperform rating on the stock in a research report on Thursday, November 10th. Finally, Citigroup lowered their price objective on Surgery Partners from $49.00 to $38.00 and set a buy rating on the stock in a research report on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Surgery Partners currently has a consensus rating of Moderate Buy and an average target price of $47.00.

Surgery Partners Stock Up 6.8 %

SGRY opened at $27.49 on Tuesday. Surgery Partners has a 1-year low of $20.46 and a 1-year high of $63.87. The stock’s fifty day simple moving average is $26.02 and its 200 day simple moving average is $31.61. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.47. The stock has a market cap of $2.47 billion, a PE ratio of -78.54 and a beta of 2.82.

Insider Activity at Surgery Partners

In other Surgery Partners news, Director Brent Turner acquired 10,000 shares of Surgery Partners stock in a transaction that occurred on Monday, November 21st. The shares were acquired at an average cost of $24.50 per share, with a total value of $245,000.00. Following the completion of the purchase, the director now directly owns 57,701 shares of the company’s stock, valued at approximately $1,413,674.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Surgery Partners news, Director Brent Turner acquired 10,000 shares of Surgery Partners stock in a transaction that occurred on Monday, November 21st. The shares were acquired at an average cost of $24.50 per share, with a total value of $245,000.00. Following the completion of the purchase, the director now directly owns 57,701 shares of the company’s stock, valued at approximately $1,413,674.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura L. Brocklehurst sold 4,338 shares of Surgery Partners stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $22.96, for a total value of $99,600.48. Following the sale, the insider now directly owns 41,424 shares in the company, valued at $951,095.04. The disclosure for this sale can be found here. Insiders have sold 4,671 shares of company stock valued at $109,474 over the last ninety days. 3.30% of the stock is owned by corporate insiders.

Institutional Trading of Surgery Partners

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Surgery Partners by 139.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,379 shares of the company’s stock valued at $32,000 after purchasing an additional 804 shares in the last quarter. Signaturefd LLC bought a new position in shares of Surgery Partners during the third quarter worth about $43,000. Great West Life Assurance Co. Can bought a new position in shares of Surgery Partners during the third quarter worth about $44,000. Finally, SG Americas Securities LLC bought a new position in shares of Surgery Partners during the second quarter worth about $108,000.

Surgery Partners Company Profile

(Get Rating)

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company operates through two segments, Surgical Facility Services and Ancillary Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.

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