Surgery Partners (NASDAQ:SGRY) Shares Up 4.9% – What’s Next?

Surgery Partners, Inc. (NASDAQ:SGRY) rose 4.9% on Tuesday . The stock traded as high as $14.42 and last traded at $14.5650. Approximately 255,382 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,640,204 shares. The stock had previously closed at $13.89.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SGRY. Jefferies Financial Group reissued a “buy” rating and set a $17.00 target price on shares of Surgery Partners in a report on Wednesday, May 6th. TD Cowen upped their price objective on shares of Surgery Partners from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Zacks Research downgraded shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research report on Friday, August 21st. Finally, Royal Bank Of Canada cut their price target on shares of Surgery Partners from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.45.

Surgery Partners Trading Down 4.2%

The business’s 50 day moving average price is $15.46 and its two-hundred day moving average price is $14.38. The company has a current ratio of 1.95, a quick ratio of 1.78 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -19.97, a P/E/G ratio of 4.50 and a beta of 1.92.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The business had revenue of $848.90 million during the quarter, compared to analysts’ expectations of $830.03 million. During the same period in the prior year, the company earned $0.17 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Surgery Partners, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity at Surgery Partners

In other news, Director Teresa Deluca acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average price of $14.35 per share, with a total value of $143,500.00. Following the acquisition, the director directly owned 66,843 shares in the company, valued at $959,197.05. The trade was a 17.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Trading of Surgery Partners

A number of hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of Surgery Partners by 239.6% during the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock worth $35,000 after purchasing an additional 2,051 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Surgery Partners in the 2nd quarter valued at approximately $38,000. Fifth Third Bancorp boosted its position in Surgery Partners by 5,324.0% during the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after buying an additional 3,993 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Surgery Partners by 45,640.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after acquiring an additional 2,282 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in Surgery Partners in the 3rd quarter valued at approximately $121,000.

About Surgery Partners

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.