Surgery Partners (NASDAQ:SGRY) Shares Gap Up to $29.10

Surgery Partners, Inc. (NASDAQ:SGRY) shares gapped up before the market opened on Friday . The stock had previously closed at $29.10, but opened at $30.41. Surgery Partners shares last traded at $29.53, with a volume of 108,104 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SGRY shares. Citigroup cut their price target on Surgery Partners from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Benchmark reissued a “buy” rating and issued a $50.00 price objective on shares of Surgery Partners in a research note on Wednesday, May 1st. Macquarie began coverage on Surgery Partners in a research note on Friday, June 28th. They issued an “outperform” rating and a $31.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $43.00 price objective on shares of Surgery Partners in a research note on Tuesday, July 9th. Finally, StockNews.com raised Surgery Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Surgery Partners currently has a consensus rating of “Moderate Buy” and an average target price of $40.14.

Surgery Partners Price Performance

The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 2.24 and a beta of 2.78. The stock has a fifty day simple moving average of $25.35 and a 200-day simple moving average of $28.17. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 0.92.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. Surgery Partners had a return on equity of 3.65% and a net margin of 0.02%. The company had revenue of $717.40 million for the quarter, compared to analyst estimates of $707.66 million. As a group, equities research analysts expect that Surgery Partners, Inc. will post 0.88 EPS for the current year.

Insider Transactions at Surgery Partners

In other news, insider Danielle Burkhalter sold 6,000 shares of Surgery Partners stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $26.39, for a total transaction of $158,340.00. Following the sale, the insider now owns 30,354 shares of the company’s stock, valued at approximately $801,042.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Institutional Trading of Surgery Partners

Several institutional investors have recently bought and sold shares of SGRY. International Assets Investment Management LLC boosted its stake in Surgery Partners by 2,331.0% in the 4th quarter. International Assets Investment Management LLC now owns 7,998 shares of the company’s stock valued at $250,000 after buying an additional 7,669 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Surgery Partners by 13.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,139 shares of the company’s stock valued at $1,092,000 after purchasing an additional 3,952 shares during the last quarter. WCM Investment Management LLC raised its position in Surgery Partners by 8.5% in the 4th quarter. WCM Investment Management LLC now owns 505,836 shares of the company’s stock valued at $16,273,000 after purchasing an additional 39,456 shares during the last quarter. Strs Ohio bought a new position in Surgery Partners in the 4th quarter valued at $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Surgery Partners by 46.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,380 shares of the company’s stock valued at $492,000 after purchasing an additional 4,874 shares during 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.