Macquarie Issues Pessimistic Forecast for Surgery Partners (NASDAQ:SGRY) Stock Price

Surgery Partners (NASDAQ:SGRY) had its target price decreased by Macquarie from $35.00 to $34.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Macquarie currently has an outperform rating on the stock.

SGRY has been the topic of several other reports. UBS Group started coverage on shares of Surgery Partners in a research report on Monday, October 14th. They set a “buy” rating and a $38.00 target price on the stock. Citigroup cut their price target on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. StockNews.com downgraded Surgery Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $49.00 target price on shares of Surgery Partners in a report on Wednesday, August 7th. Finally, KeyCorp initiated coverage on Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Surgery Partners has a consensus rating of “Moderate Buy” and a consensus target price of $40.71.

Surgery Partners Stock Down 7.3 %

Shares of SGRY opened at $22.95 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.69 and a debt-to-equity ratio of 0.99. Surgery Partners has a 52 week low of $22.25 and a 52 week high of $36.92. The stock has a fifty day moving average of $30.62 and a 200-day moving average of $28.45.

Surgery Partners (NASDAQ:SGRY) last issued its 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). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The firm had revenue of $770.40 million during the quarter, compared to analyst estimates of $768.99 million. During the same period in the previous year, the company earned $0.15 EPS. Surgery Partners’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts forecast that Surgery Partners will post 0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SGRY. ProShare Advisors LLC increased its holdings in Surgery Partners by 7.8% in the first quarter. ProShare Advisors LLC now owns 13,588 shares of the company’s stock worth $405,000 after purchasing an additional 986 shares in the last quarter. First Eagle Investment Management LLC increased its stake 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 valued at $10,127,000 after acquiring an additional 48,100 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Surgery Partners by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 7,479,009 shares of the company’s stock valued at $223,099,000 after acquiring an additional 61,400 shares during the period. EntryPoint Capital LLC boosted its stake in Surgery Partners by 257.1% during the first quarter. EntryPoint Capital LLC now owns 6,399 shares of the company’s stock worth $191,000 after acquiring an additional 4,607 shares in the last quarter. Finally, Magnetar Financial LLC grew its holdings in Surgery Partners by 511.7% in the first quarter. Magnetar Financial LLC now owns 165,466 shares of the company’s stock worth $4,936,000 after purchasing an additional 138,415 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.