Surgery Partners (NASDAQ:SGRY) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $14.95 and traded as high as $16.34. Surgery Partners shares last traded at $16.30, with a volume of 600,932 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SGRY shares. Jefferies Financial Group restated a “buy” rating and set a $17.00 price target on shares of Surgery Partners in a research report on Wednesday, May 6th. Zacks Research upgraded Surgery Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Surgery Partners in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Surgery Partners presently has a consensus rating of “Moderate Buy” and an average target price of $22.18.

Surgery Partners Trading Up 0.5%

The firm’s 50-day simple moving average is $14.98 and its 200-day simple moving average is $14.44. The firm has a market capitalization of $1.99 billion, a PE ratio of -25.37, a price-to-earnings-growth ratio of 4.87 and a beta of 1.89. The company has a quick ratio of 1.69, a current ratio of 1.86 and a debt-to-equity ratio of 1.17.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.12. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The business had revenue of $810.90 million for the quarter, compared to analyst estimates of $797.69 million. During the same period last year, the company earned $0.04 EPS. Surgery Partners’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts expect that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Surgery Partners by 97.9% during the first quarter. Bank of America Corp DE now owns 1,239,982 shares of the company’s stock valued at $14,781,000 after acquiring an additional 613,505 shares during the last quarter. Irenic Capital Management LP grew its stake in shares of Surgery Partners by 740.2% in the first quarter. Irenic Capital Management LP now owns 711,000 shares of the company’s stock worth $8,475,000 after purchasing an additional 626,380 shares during the last quarter. California State Teachers Retirement System increased its holdings in Surgery Partners by 38.5% during the 1st quarter. California State Teachers Retirement System now owns 113,671 shares of the company’s stock valued at $1,355,000 after purchasing an additional 31,599 shares during the period. Quantinno Capital Management LP increased its holdings in Surgery Partners by 435.0% during the 1st quarter. Quantinno Capital Management LP now owns 82,520 shares of the company’s stock valued at $984,000 after purchasing an additional 67,095 shares during the period. Finally, Entropy Technologies LP bought a new position in Surgery Partners during the 1st quarter valued at approximately $235,000.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.