Surgery Partners (NASDAQ:SGRY) Trading 3.6% Higher - What's Next?

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report)'s stock price traded up 3.6% during trading on Friday . The stock traded as high as $23.37 and last traded at $23.63. 345,062 shares changed hands during trading, a decline of 68% from the average session volume of 1,092,975 shares. The stock had previously closed at $22.80.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SGRY. Barclays dropped their target price on shares of Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. Macquarie dropped their target price on shares of Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 target price on shares of Surgery Partners in a research note on Tuesday, March 25th. Finally, Benchmark reissued a "buy" rating and set a $35.00 price objective on shares of Surgery Partners in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.56.

Surgery Partners Trading Up 4.2%

The firm has a market capitalization of $3.05 billion, a PE ratio of -49.50, a PEG ratio of 19.21 and a beta of 1.96. The stock's fifty day simple moving average is $22.34 and its 200 day simple moving average is $22.74. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.04). Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The business had revenue of $776.00 million for the quarter, compared to the consensus estimate of $777.77 million. During the same quarter last year, the business earned $0.10 EPS. Surgery Partners's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Insider Activity

In related news, CFO David T. Doherty sold 6,733 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $24.02, for a total value of $161,726.66. Following the transaction, the chief financial officer now owns 150,868 shares of the company's stock, valued at $3,623,849.36. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Marissa Brittenham sold 3,156 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $24.09, for a total transaction of $76,028.04. Following the transaction, the insider now directly owns 63,408 shares in the company, valued at $1,527,498.72. This trade represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.30% of the company's stock.

Institutional Trading of Surgery Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in Surgery Partners by 110.2% during the fourth quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock worth $244,616,000 after buying an additional 6,057,477 shares in the last quarter. Pentwater Capital Management LP raised its position in shares of Surgery Partners by 545.2% in the first quarter. Pentwater Capital Management LP now owns 2,742,000 shares of the company's stock valued at $65,122,000 after buying an additional 2,317,000 shares during the last quarter. TIG Advisors LLC acquired a new stake in shares of Surgery Partners in the first quarter valued at about $46,902,000. King Street Capital Management L.P. raised its position in shares of Surgery Partners by 93.1% in the fourth quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company's stock valued at $59,276,000 after buying an additional 1,350,000 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in Surgery Partners by 224.7% during the fourth quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company's stock worth $36,975,000 after purchasing an additional 1,208,639 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.