Surgery Partners (NASDAQ:SGRY) Trading 5.7% Higher

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report)'s stock price shot up 5.7% during mid-day trading on Monday . The stock traded as high as $26.45 and last traded at $25.92. 318,638 shares were traded during mid-day trading, a decline of 64% from the average session volume of 880,022 shares. The stock had previously closed at $24.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald restated an "overweight" rating and set a $43.00 price target on shares of Surgery Partners in a research report on Wednesday, April 10th. Citigroup cut their target price on Surgery Partners from $43.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, February 27th. StockNews.com upgraded shares of Surgery Partners from a "sell" rating to a "hold" rating in a report on Thursday, March 21st. Benchmark reaffirmed a "buy" rating and set a $50.00 target price on shares of Surgery Partners in a report on Wednesday, May 1st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $49.00 price target on shares of Surgery Partners in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $43.63.

Surgery Partners Price Performance

The stock has a market cap of $3.25 billion, a P/E ratio of -256.00, a price-to-earnings-growth ratio of 2.24 and a beta of 2.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.57 and a current ratio of 1.71. The firm has a 50-day moving average price of $27.54 and a 200-day moving average price of $29.79.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.07. Surgery Partners had a positive return on equity of 3.65% and a negative net margin of 0.43%. The business had revenue of $735.40 million during the quarter, compared to the consensus estimate of $741.93 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts forecast that Surgery Partners, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Activity

In other Surgery Partners news, CEO Jason Eric Evans sold 5,780 shares of Surgery Partners stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $35.08, for a total value of $202,762.40. Following the completion of the transaction, the chief executive officer now directly owns 419,118 shares of the company's stock, valued at $14,702,659.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Surgery Partners news, CEO Jason Eric Evans sold 5,780 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $35.08, for a total transaction of $202,762.40. Following the sale, the chief executive officer now directly owns 419,118 shares in the company, valued at approximately $14,702,659.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David T. Doherty sold 1,020 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $34.93, for a total value of $35,628.60. Following the completion of the transaction, the chief financial officer now owns 74,209 shares of the company's stock, valued at approximately $2,592,120.37. The disclosure for this sale can be found here. Insiders sold 14,831 shares of company stock worth $482,609 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Surgery Partners

A number of large investors have recently made changes to their positions in SGRY. Wellington Management Group LLP boosted its holdings in Surgery Partners by 23.2% in the third quarter. Wellington Management Group LLP now owns 8,022,700 shares of the company's stock worth $234,664,000 after purchasing an additional 1,511,396 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of Surgery Partners during the 3rd quarter valued at $42,705,000. Iron Triangle Partners LP purchased a new position in shares of Surgery Partners in the 4th quarter worth $33,415,000. Norges Bank bought a new stake in shares of Surgery Partners in the fourth quarter worth $25,765,000. Finally, Vanguard Group Inc. increased its position in Surgery Partners by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 7,417,609 shares of the company's stock valued at $237,289,000 after acquiring an additional 698,845 shares during the last quarter.

Surgery Partners Company Profile

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.