Bank of America Initiates Coverage on Surgery Partners (NASDAQ:SGRY)

Investment analysts at Bank of America began coverage on shares of Surgery Partners (NASDAQ:SGRY) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. Bank of America‘s price objective would suggest a potential upside of 47.35% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their price target on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $43.00 price objective on shares of Surgery Partners in a report on Friday, October 4th. UBS Group began coverage on shares of Surgery Partners in a research note on Monday, October 14th. They set a “buy” rating and a $38.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $50.00 price target on shares of Surgery Partners in a research note on Monday, August 26th. Finally, Royal Bank of Canada lowered their price objective on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Surgery Partners has a consensus rating of “Moderate Buy” and an average price target of $36.56.

Surgery Partners Stock Performance

Surgery Partners stock opened at $20.36 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. Surgery Partners has a 12 month low of $19.90 and a 12 month high of $36.92. The company has a fifty day moving average price of $26.93 and a two-hundred day moving average price of $27.98. The company has a market cap of $2.59 billion, a PE ratio of -42.42, a P/E/G ratio of 17.40 and a beta of 2.58.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The business had revenue of $770.40 million during the quarter, compared to the consensus estimate of $768.99 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. Research analysts expect that Surgery Partners will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

A number of institutional investors have recently modified their holdings of SGRY. SG Americas Securities LLC increased its position in Surgery Partners by 190.0% in the 2nd quarter. SG Americas Securities LLC now owns 17,276 shares of the company’s stock worth $411,000 after purchasing an additional 11,318 shares during the last quarter. Raymond James & Associates increased its stake in shares of Surgery Partners by 6.8% during the 2nd quarter. Raymond James & Associates now owns 68,872 shares of the company’s stock worth $1,638,000 after purchasing an additional 4,370 shares during the last quarter. MeadowBrook Investment Advisors LLC lifted its stake in shares of Surgery Partners by 15.9% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 12,320 shares of the company’s stock valued at $293,000 after purchasing an additional 1,690 shares during the last quarter. Tranquility Partners LLC boosted its stake in shares of Surgery Partners by 7.3% during the 2nd quarter. Tranquility Partners LLC now owns 61,892 shares of the company’s stock worth $1,472,000 after acquiring an additional 4,192 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Surgery Partners by 12.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 347,485 shares of the company’s stock valued at $8,267,000 after acquiring an additional 38,285 shares during the last quarter.

About Surgery Partners

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.