Surgery Partners (NASDAQ:SGRY) Sees Large Volume Increase – Here’s What Happened

Surgery Partners, Inc. (NASDAQ:SGRY) shares saw unusually-strong trading volume on Thursday . Approximately 1,617,532 shares traded hands during trading, an increase of 103% from the previous session’s volume of 797,605 shares.The stock last traded at $20.42 and had previously closed at $20.35.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SGRY shares. Bank of America started coverage on shares of Surgery Partners in a research report on Monday, December 16th. They set a “buy” rating and a $30.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, December 3rd. UBS Group began coverage on shares of Surgery Partners in a research note on Monday, October 14th. They set a “buy” rating and a $38.00 price objective for the company. KeyCorp began coverage on shares of Surgery Partners in a research note on Friday, October 11th. They set a “sector weight” rating for the company. Finally, Macquarie reissued an “outperform” rating and set a $34.00 price objective on shares of Surgery Partners in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.56.

Surgery Partners Trading Down 1.4 %

The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The stock has a market cap of $2.58 billion, a P/E ratio of -42.33, a PEG ratio of 14.10 and a beta of 2.58. The firm’s 50-day simple moving average is $21.40 and its 200 day simple moving average is $27.08.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The company had revenue of $770.40 million during the quarter, compared to analyst estimates of $768.99 million. During the same period in the prior year, the company posted $0.15 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts anticipate that Surgery Partners, Inc. will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Surgery Partners by 26.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock valued at $66,643,000 after buying an additional 589,499 shares during the period. Hsbc Holdings PLC increased its stake in Surgery Partners by 480.7% in the 2nd quarter. Hsbc Holdings PLC now owns 50,267 shares of the company’s stock valued at $1,184,000 after buying an additional 41,611 shares during the period. Sei Investments Co. acquired a new position in Surgery Partners in the 2nd quarter valued at approximately $699,000. ProShare Advisors LLC increased its stake in Surgery Partners by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 20,260 shares of the company’s stock valued at $482,000 after buying an additional 6,672 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Surgery Partners in the 2nd quarter valued at approximately $29,288,000.

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.