Surgery Partners (NASDAQ:SGRY) Stock Price Down 3.9%

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price fell 3.9% during mid-day trading on Thursday . The company traded as low as $23.28 and last traded at $23.52. 278,122 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 872,084 shares. The stock had previously closed at $24.47.

Analyst Ratings Changes

A number of research firms have recently issued reports on SGRY. Royal Bank of Canada reiterated an “outperform” rating and issued a $49.00 target price on shares of Surgery Partners in a research note on Thursday, February 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a research note on Wednesday, April 10th. Citigroup cut their target price on shares of Surgery Partners from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Barclays began coverage on shares of Surgery Partners in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $35.00 price objective for the company. Finally, StockNews.com upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Surgery Partners currently has an average rating of “Moderate Buy” and a consensus target price of $43.63.

Surgery Partners Stock Down 4.0 %

The business’s fifty day simple moving average is $29.81 and its 200 day simple moving average is $29.91. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 0.89. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -237.00, a price-to-earnings-growth ratio of 2.26 and a beta of 2.71.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Monday, February 26th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The firm had revenue of $735.40 million during the quarter, compared to analyst estimates of $741.93 million. During the same quarter in the previous year, the business earned $0.22 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities analysts forecast that Surgery Partners, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jason Eric Evans sold 1,984 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $29.44, for a total value of $58,408.96. Following the completion of the transaction, the chief executive officer now directly owns 464,510 shares of the company’s stock, valued at approximately $13,675,174.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Surgery Partners news, insider Marissa Brittenham sold 1,637 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $31.89, for a total transaction of $52,203.93. Following the sale, the insider now directly owns 30,469 shares of the company’s stock, valued at approximately $971,656.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason Eric Evans sold 1,984 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $29.44, for a total transaction of $58,408.96. Following the sale, the chief executive officer now directly owns 464,510 shares in the company, valued at $13,675,174.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,774 shares of company stock valued at $608,352. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGRY. Wellington Management Group LLP raised its holdings in shares of Surgery Partners by 3.7% in the 4th quarter. Wellington Management Group LLP now owns 8,318,176 shares of the company’s stock valued at $266,098,000 after purchasing an additional 295,476 shares during the period. Vanguard Group Inc. raised its holdings in shares of Surgery Partners by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 7,417,609 shares of the company’s stock valued at $237,289,000 after purchasing an additional 698,845 shares during the period. Durable Capital Partners LP raised its holdings in shares of Surgery Partners by 174.3% in the 4th quarter. Durable Capital Partners LP now owns 5,853,995 shares of the company’s stock valued at $163,092,000 after purchasing an additional 3,719,766 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Surgery Partners by 4.7% in the 4th quarter. Clearbridge Investments LLC now owns 5,525,671 shares of the company’s stock valued at $176,766,000 after purchasing an additional 247,762 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Surgery Partners by 41.1% in the 2nd quarter. BlackRock Inc. now owns 5,372,530 shares of the company’s stock valued at $241,710,000 after purchasing an additional 1,565,138 shares during the period.

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.