Surgery Partners (NASDAQ:SGRY) Price Target Lowered to $34.00 at Macquarie

Surgery Partners (NASDAQ:SGRY) had its price target cut by investment analysts at Macquarie from $35.00 to $34.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Macquarie’s target price points to a potential upside of 28.54% from the stock’s previous close.

Several other equities analysts have also recently issued reports on SGRY. StockNews.com cut shares of Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $43.00 price target on shares of Surgery Partners in a report on Friday, October 4th. UBS Group began coverage on Surgery Partners in a research note on Monday, October 14th. They set a “buy” rating and a $38.00 price objective for the company. Citigroup cut their target price on Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, KeyCorp began coverage on Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Surgery Partners has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Surgery Partners Price Performance

Shares of SGRY stock traded down $3.12 during mid-day trading on Wednesday, hitting $26.45. 988,886 shares of the stock traded hands, compared to its average volume of 936,440. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.69 and a current ratio of 1.83. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -54.98, a price-to-earnings-growth ratio of 2.34 and a beta of 2.76. The company’s 50-day simple moving average is $30.99 and its 200-day simple moving average is $28.49. Surgery Partners has a twelve month low of $22.25 and a twelve month high of $36.92.

Institutional Investors Weigh In On Surgery Partners

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in shares of Surgery Partners by 7,987.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock worth $74,701,000 after purchasing an additional 2,473,282 shares in the last quarter. Deerfield Management Company L.P. Series C increased its holdings in Surgery Partners by 47.7% in the second quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock worth $111,986,000 after buying an additional 1,520,484 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Surgery Partners in the second quarter valued at approximately $29,288,000. Victory Capital Management Inc. lifted its stake in Surgery Partners by 140.4% in the third quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company’s stock valued at $42,892,000 after acquiring an additional 777,038 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Surgery Partners by 26.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock worth $66,643,000 after acquiring an additional 589,499 shares in 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.