Surgery Partners (NASDAQ:SGRY) Stock Price Up 4.9% - What's Next?

Key Points

• Surgery Partners' shares rose by 4.9% reaching a trading high of $22.37, despite a decrease in trading volume compared to the average sessions.
• Analysts maintain a favorable outlook on the company, with a consensus target price of $33.33 and a mix of buy, hold, and sell ratings.
• In the latest earnings report, Surgery Partners reported revenue of $776 million for the quarter, showing an 8.2% year-over-year increase, although it missed analysts' expectations for EPS.

Shares of Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) rose 4.9% on Monday . The stock traded as high as $22.37 and last traded at $22.30. Approximately 417,545 shares changed hands during trading, a decline of 69% from the average daily volume of 1,355,952 shares. The stock had previously closed at $21.26.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SGRY shares. Bank of America started coverage on Surgery Partners in a report on Monday. They issued a "buy" rating and a $28.00 price target on the stock. Barclays reduced their price objective on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. Finally, Benchmark restated a "buy" rating and issued a $35.00 target price on shares of Surgery Partners in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.33.

Surgery Partners Stock Down 3.1%

The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -13.91 and a beta of 1.90. The firm's fifty day moving average is $22.22 and its two-hundred day moving average is $22.85. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.89 and a quick ratio of 1.73.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.04). The firm had revenue of $776.00 million for the quarter, compared to analyst estimates of $777.77 million. Surgery Partners had a positive return on equity of 2.41% and a negative net margin of 6.10%. Surgery Partners's revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. On average, sell-side analysts expect that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Institutional Trading of Surgery Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. grew its position in Surgery Partners by 13.9% in the fourth quarter. Sei Investments Co. now owns 43,666 shares of the company's stock worth $924,000 after buying an additional 5,333 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Surgery Partners during the 4th quarter worth $273,000. LPL Financial LLC grew its holdings in shares of Surgery Partners by 22.4% in the 4th quarter. LPL Financial LLC now owns 16,749 shares of the company's stock worth $355,000 after acquiring an additional 3,062 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Surgery Partners by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 7,618,404 shares of the company's stock worth $161,282,000 after purchasing an additional 172,271 shares during the period. Finally, Norges Bank acquired a new stake in shares of Surgery Partners during the fourth quarter worth $15,796,000.

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.