Surgery Partners (NASDAQ:SGRY) Sees Unusually-High Trading Volume – Should You Buy?

Surgery Partners, Inc. (NASDAQ:SGRY) saw strong trading volume on Wednesday. 6,326,966 shares were traded during trading, an increase of 202% from the average daily volume of 2,098,303 shares. The stock last traded at $23.2250 and had previously closed at $23.13.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SGRY shares. Royal Bank Of Canada lowered Surgery Partners from a “moderate buy” rating to a “hold” rating and set a $23.50 target price on the stock. in a research report on Monday, October 26th. Weiss Ratings raised Surgery Partners from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. Cantor Fitzgerald downgraded Surgery Partners from an “overweight” rating to a “hold” rating in a report on Monday, October 26th. UBS Group lowered Surgery Partners from a “buy” rating to a “hold” rating and increased their target price for the stock from $21.00 to $23.50 in a research note on Wednesday, October 28th. Finally, Stonex Financial cut Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 27th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.14.

Surgery Partners Stock Performance

The stock’s 50 day moving average price is $15.85 and its two-hundred day moving average price is $14.79. The firm has a market capitalization of $3.04 billion, a PE ratio of -33.14 and a beta of 1.85. The company has a current ratio of 1.95, a quick ratio of 1.78 and a debt-to-equity ratio of 1.18.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%. The company 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 business posted $0.17 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that Surgery Partners, Inc. will post 0.07 earnings per share for the current year.

Insider Activity

In related news, Director Teresa DeLuca purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the acquisition, the director owned 66,843 shares in the company, valued at $959,197.05. This trade represents a 17.59% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jupiter Topco LLC acquired a new stake in shares of Surgery Partners in the second quarter worth $233,220,000. Pentwater Capital Management LP acquired a new position in Surgery Partners in the 2nd quarter valued at $195,384,000. BlackRock Inc. bought a new position in Surgery Partners in the 2nd quarter worth $104,857,000. Dimensional Fund Advisors LP lifted 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 worth $63,131,000 after acquiring an additional 389,831 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Surgery Partners during the 2nd quarter worth $48,912,000.

Surgery Partners Company Profile

Surgery Partners, Inc is a U.S.-based healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals. The company works with physicians, health systems and other healthcare providers to deliver outpatient surgical care in facilities designed for same-day procedures.

Its facilities provide surgical services across specialties such as orthopedics, pain management, ophthalmology, gastroenterology, urology, gynecology and general surgery. Surgery Partners also supports its operations with clinical, administrative and revenue-cycle services intended to help physicians and facility partners manage patient care and practice operations.

Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners has expanded its platform through acquisitions, joint ventures and other partnerships.