Surgery Partners (NASDAQ:SGRY) Trading 4.9% Higher – Here’s What Happened

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) shot up 4.9% on Tuesday . The stock traded as high as $14.42 and last traded at $14.5650. 255,382 shares were traded during trading, a decline of 84% from the average daily volume of 1,640,204 shares. The stock had previously closed at $13.89.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Surgery Partners in a research report on Friday, August 21st. TD Cowen raised their price target on Surgery Partners from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Surgery Partners in a research note on Wednesday, May 6th. Royal Bank Of Canada cut their target price on shares of Surgery Partners from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $18.00 price objective on shares of Surgery Partners in a report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.45.

Surgery Partners Stock Up 7.1%

The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -21.19, a P/E/G ratio of 4.22 and a beta of 1.92. The business has a fifty day simple moving average of $15.48 and a two-hundred day simple moving average of $14.39.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $848.90 million during the quarter, compared to analysts’ expectations of $830.03 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.Surgery Partners’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. Equities analysts expect that Surgery Partners, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling at Surgery Partners

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

Hedge Funds Weigh In On Surgery Partners

A number of large investors have recently modified their holdings of the company. Jupiter Topco LLC bought a new position in Surgery Partners in the 2nd quarter valued at $233,220,000. Janus Henderson Group PLC lifted its stake in Surgery Partners by 3.8% during the fourth quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company’s stock worth $209,162,000 after purchasing an additional 501,401 shares during the last quarter. Pentwater Capital Management LP raised its holdings in shares of Surgery Partners by 66.9% during the 3rd quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock valued at $252,777,000 after buying an additional 4,681,000 shares in the last quarter. BlackRock Inc. purchased a new position in Surgery Partners in the 2nd quarter worth $104,857,000. Finally, Dimensional Fund Advisors LP boosted its position in Surgery Partners by 7.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company’s stock valued at $63,131,000 after buying an additional 389,831 shares during the period.

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.