Surgery Partners (NASDAQ:SGRY) Sees Strong Trading Volume – Should You Buy?

Surgery Partners, Inc. (NASDAQ:SGRY) shares saw strong trading volume on Wednesday . 1,672,223 shares were traded during trading, an increase of 8% from the previous session’s volume of 1,548,301 shares.The stock last traded at $26.11 and had previously closed at $25.75.

Analysts Set New Price Targets

A number of research firms have commented on SGRY. UBS Group started coverage on shares of Surgery Partners in a research report on Monday, October 14th. They set a “buy” rating and a $38.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 price target on shares of Surgery Partners in a research note on Friday, October 4th. Macquarie restated an “outperform” rating and set a $34.00 price objective on shares of Surgery Partners in a report on Tuesday, November 19th. Royal Bank of Canada decreased their price target on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, KeyCorp started coverage on shares of Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Surgery Partners currently has an average rating of “Moderate Buy” and a consensus target price of $36.56.

Surgery Partners Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -53.38, a PEG ratio of 14.10 and a beta of 2.58. The business has a fifty day moving average price of $21.45 and a 200 day moving average price of $27.09.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing the consensus estimate 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 business had revenue of $770.40 million for the quarter, compared to analyst estimates of $768.99 million. During the same period in the previous year, the firm posted $0.15 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. As a group, research analysts anticipate that Surgery Partners, Inc. will post 0.71 earnings per share for the current year.

Institutional Trading of Surgery Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV boosted its holdings in shares of Surgery Partners by 31.8% during the 3rd quarter. KBC Group NV now owns 2,385 shares of the company’s stock valued at $77,000 after acquiring an additional 576 shares in the last quarter. Quarry LP raised its position in Surgery Partners by 133.1% in the second quarter. Quarry LP now owns 3,082 shares of the company’s stock valued at $73,000 after purchasing an additional 1,760 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Surgery Partners by 747.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock worth $124,000 after purchasing an additional 3,379 shares during the last quarter. Creative Planning bought a new position in Surgery Partners in the 3rd quarter valued at approximately $258,000. Finally, Versor Investments LP acquired a new position in Surgery Partners in the 3rd quarter valued at approximately $271,000.

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.