Surgery Partners (NASDAQ:SGRY) Price Target Cut to $28.00 by Analysts at JPMorgan Chase & Co.

Surgery Partners (NASDAQ:SGRY) had its price objective reduced by JPMorgan Chase & Co. from $38.00 to $28.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently issued reports on SGRY. StockNews.com cut Surgery Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Macquarie reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Surgery Partners in a research note on Tuesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $43.00 price objective on shares of Surgery Partners in a report on Friday, October 4th. Benchmark reaffirmed a “buy” rating and set a $50.00 target price on shares of Surgery Partners in a report on Monday, August 26th. Finally, UBS Group began coverage on Surgery Partners in a research report on Monday, October 14th. They issued a “buy” rating and a $38.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.38.

Surgery Partners Stock Down 4.7 %

Shares of NASDAQ:SGRY opened at $21.46 on Tuesday. Surgery Partners has a 12 month low of $21.10 and a 12 month high of $36.92. The firm has a market cap of $2.73 billion, a P/E ratio of -44.71, a P/E/G ratio of 19.15 and a beta of 2.58. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $28.20 and its two-hundred day moving average price is $28.12.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share 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 company had revenue of $770.40 million during the quarter, compared to analyst estimates of $768.99 million. During the same period in the prior year, the business earned $0.15 EPS. The business’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 0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quarry LP increased its holdings in Surgery Partners by 133.1% during the second quarter. Quarry LP now owns 3,082 shares of the company’s stock worth $73,000 after buying an additional 1,760 shares during the last quarter. KBC Group NV lifted its stake in Surgery Partners by 31.8% in the 3rd quarter. KBC Group NV now owns 2,385 shares of the company’s stock valued at $77,000 after purchasing an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Surgery Partners by 102.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock worth $80,000 after purchasing an additional 1,375 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Surgery Partners by 747.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock worth $124,000 after buying an additional 3,379 shares during the last quarter. Finally, Creative Planning bought a new stake in Surgery Partners in the third quarter valued at approximately $258,000.

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.