Surgery Partners (NASDAQ:SGRY) Trading Up 5.7% - What's Next?

Key Points

• Surgery Partners shares rose 5.7% to about $14.44 in midday trading, with volume 34% above the average session level.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $19.00; ratings include seven Buys, three Holds, and one Sell.
• The company exceeded quarterly expectations, reporting $0.10 in EPS versus $0.06 expected and $848.9 million in revenue versus $830.03 million estimated, while revenue increased 2.7% year over year.

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report)'s share price traded up 5.7% during mid-day trading on Tuesday . The company traded as high as $14.43 and last traded at $14.4440. 2,268,892 shares changed hands during mid-day trading, an increase of 34% from the average session volume of 1,693,842 shares. The stock had previously closed at $13.66.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SGRY shares. JPMorgan Chase & Co. increased their price objective on shares of Surgery Partners from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, September 14th. Zacks Research cut Surgery Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. TD Cowen reissued a "buy" rating and issued a $19.00 price target on shares of Surgery Partners in a report on Friday. Royal Bank Of Canada reduced their price objective on Surgery Partners from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, August 11th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Surgery Partners in a research note on Friday, August 21st. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Surgery Partners Price Performance

The business has a fifty day moving average price of $14.77 and a 200 day moving average price of $14.24. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -21.35, a price-to-earnings-growth ratio of 3.64 and a beta of 1.92.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $848.90 million during the quarter, compared to analyst estimates of $830.03 million. During the same quarter in the prior year, the firm posted $0.17 EPS. Surgery Partners's revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that Surgery Partners, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity at Surgery Partners

In other news, Director Teresa DeLuca bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average price of $14.35 per share, with a total value of $143,500.00. Following the completion of the acquisition, the director directly owned 66,843 shares in the company, valued at approximately $959,197.05. This trade represents a 17.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Surgery Partners

Institutional investors have recently modified their holdings of the company. Jupiter Topco LLC acquired a new position in Surgery Partners during the second quarter worth about $233,220,000. Pentwater Capital Management LP acquired a new stake in Surgery Partners in the 2nd quarter valued at about $195,384,000. BlackRock Inc. bought a new position in shares of Surgery Partners during the 2nd quarter valued at about $104,857,000. Dimensional Fund Advisors LP boosted its position in shares of 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 purchasing an additional 389,831 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Surgery Partners during the 2nd quarter valued at about $48,912,000.

About Surgery Partners

Surgery Partners, Inc NASDAQ: SGRY is a healthcare services company that owns and operates a network of ambulatory surgery centers and surgical hospitals in the United States. The company works with physicians and health systems to provide outpatient and same-day surgical care in settings outside traditional hospital facilities.

Its services cover a range of specialties, including orthopedics, pain management, gastroenterology, ophthalmology, gynecology, urology and other procedural areas.

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