Surgery Partners (NASDAQ:SGRY) Share Price Passes Above Fifty Day Moving Average - What's Next?

Key Points

• Surgery Partners shares rose 4.2% and moved above their 50-day moving average, trading as high as $13.82 and last changing hands at $13.77.
• Analyst sentiment is mixed but still leans positive, with eight Buy ratings, three Hold ratings, and one Sell rating; the consensus price target is $22.18.
• The company beat quarterly EPS and revenue estimates and also authorized a $200 million stock buyback, while insiders have recently sold shares and institutions have been modestly adjusting positions.

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $13.35 and traded as high as $13.82. Surgery Partners shares last traded at $13.77, with a volume of 1,842,068 shares.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Surgery Partners in a research note on Tuesday, May 26th. Barclays cut their target price on Surgery Partners from $18.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 3rd. US Capital Advisors set a $21.00 target price on Surgery Partners in a research note on Wednesday, March 11th. Benchmark reiterated a "buy" rating on shares of Surgery Partners in a report on Tuesday, March 3rd. Finally, Mizuho lowered their price target on Surgery Partners from $19.00 to $17.00 and set an "outperform" rating for the company in a report on Thursday, March 5th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.18.

Surgery Partners Trading Up 4.2%

The company has a fifty day simple moving average of $13.35 and a two-hundred day simple moving average of $14.61. The company has a market cap of $1.80 billion, a PE ratio of -22.95, a P/E/G ratio of 9.37 and a beta of 1.96. The company has a current ratio of 1.86, a quick ratio of 1.69 and a debt-to-equity ratio of 1.17.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.12. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The business had revenue of $810.90 million during the quarter, compared to the consensus estimate of $797.69 million. During the same period in the previous year, the business earned $0.04 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. Analysts anticipate that Surgery Partners, Inc. will post 0.1 EPS for the current year.

Surgery Partners declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Marissa Brittenham sold 3,657 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $12.54, for a total transaction of $45,858.78. Following the completion of the transaction, the insider directly owned 94,196 shares of the company's stock, valued at $1,181,217.84. This trade represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason Eric Evans sold 20,400 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $12.47, for a total transaction of $254,388.00. Following the sale, the chief executive officer owned 920,386 shares in the company, valued at approximately $11,477,213.42. This trade represents a 2.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 96,896 shares of company stock worth $1,284,058 in the last three months. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Surgery Partners

Large investors have recently made changes to their positions in the business. State of Wisconsin Investment Board boosted its stake in shares of Surgery Partners by 0.4% in the fourth quarter. State of Wisconsin Investment Board now owns 151,504 shares of the company's stock valued at $2,341,000 after purchasing an additional 668 shares during the period. ProShare Advisors LLC raised its holdings in Surgery Partners by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 14,135 shares of the company's stock valued at $218,000 after acquiring an additional 909 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Surgery Partners by 313.1% in the third quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company's stock valued at $27,000 after acquiring an additional 930 shares in the last quarter. California State Teachers Retirement System raised its holdings in Surgery Partners by 1.6% in the second quarter. California State Teachers Retirement System now owns 65,091 shares of the company's stock valued at $1,447,000 after acquiring an additional 1,021 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in Surgery Partners by 4.5% during the fourth quarter. Sanctuary Advisors LLC now owns 28,488 shares of the company's stock valued at $440,000 after purchasing an additional 1,218 shares during the last quarter.

Surgery Partners Company Profile

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.

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