Surgery Partners (SGRY) Gets a Buy from RBC Capital

RBC Capital analyst Ben Hendrix reiterated a Buy rating on Surgery Partners (SGRY – Research Report) yesterday and set a price target of $49.00. The company’s shares closed yesterday at $27.77.

According to TipRanks, Hendrix is a 4-star analyst with an average return of 4.9% and a 57.35% success rate. Hendrix covers the Healthcare sector, focusing on stocks such as Cigna, Brookdale Senior Living, and Community Health.

Currently, the analyst consensus on Surgery Partners is a Strong Buy with an average price target of $43.10, a 55.20% upside from current levels. In a report released yesterday, Citi also maintained a Buy rating on the stock with a $38.00 price target.

Based on Surgery Partners’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $735.4 million and a GAAP net loss of $1 million. In comparison, last year the company earned a revenue of $707.1 million and had a GAAP net loss of $23.4 million

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SGRY in relation to earlier this year.

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Surgery Partners (SGRY) Company Description:

Surgery Partners, Inc. is healthcare services holding company, which engages in the provision of solutions for surgical and related ancillary care in support of its patients and physicians. It operates through the following business segments: Surgical Facility Services, Ancillary Services, and Optical Services. The Surgical Facility Services segment consists of the operation of ambulatory surgery centers and surgical hospitals, including anesthesia services of the company. The Ancillary Services segment operates a diagnostic laboratory and multi-specialty physician practices. The Optical Services segment involves an optical laboratory and an optical products group purchasing organization. The company was founded in 2004 and is headquartered in Brentwood, TN.