Keybanc Begins Coverage of Surgery Partners, Projects Significant Upside Potential
On October 11, 2024, Keybanc initiated coverage of Surgery Partners (NasdaqGS:SGRY) with a Sector Weight rating.
Analyst Predictions Indicate 31.69% Growth Potential
As of September 25, 2024, the consensus one-year price target for Surgery Partners stands at $40.11 per share. Projections vary, with estimates ranging from a low of $32.32 to a high of $52.50. This average target represents a potential increase of 31.69% from the latest closing price of $30.46 per share.
The projected annual revenue for Surgery Partners is $3.173 billion, reflecting a growth of 9.83%. Additionally, the anticipated annual non-GAAP EPS is $0.77.
Institutional Sentiment and Ownership Trends
A total of 464 funds and institutions have reported holdings in Surgery Partners. This number reflects a slight decline of 1 owner, or 0.22%, compared to the previous quarter. The average portfolio weight allocated to SGRY by all funds has risen by 12.49% to 0.22%. Over the last three months, institutional ownership increased by 3.40%, bringing the total number of shares held by institutions to 159.456 million.
The put/call ratio for SGRY stands at 2.48, indicating a bearish sentiment among options traders.
Bain Capital Investors remains the largest stakeholder, holding 49.947 million shares, which equates to 39.52% ownership, showing no change this quarter.
Wellington Management Group, with 10.464 million shares (8.28% ownership), slightly increased its stake by 3.36%, although they decreased their overall portfolio allocation in SGRY by 16.85% over the same period.
Clearbridge Investments holds 5.586 million shares (4.42% ownership), up 1.31% from its last filing, yet it has reduced its portfolio allocation by 17.61% recently.
Deerfield Management Company raised its holdings to 4.707 million shares (3.72% ownership), a significant increase of 32.30%, with a portfolio allocation rise of 12.66% this quarter.
Meanwhile, Janus Henderson Group increased its shares held to 4.313 million (3.41% ownership), reflecting a notable rise of 41.94%. Their portfolio allocation in SGRY saw a substantial increase of 34.84% over the last quarter.
Overview of Surgery Partners
(Company description as provided.)
Founded in 2004 and based in Brentwood, Tennessee, Surgery Partners is recognized as a leading healthcare services provider. It focuses on outpatient care, delivering high-quality, affordable options for surgical and related ancillary services to both patients and physicians. Currently, Surgery Partners operates over 180 facilities across 30 states, including ambulatory surgery centers, surgical hospitals, multi-specialty physician practices, and urgent care centers.
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