Surgery Partners Target of Unusually Large Options Trading (NASDAQ:SGRY)

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) saw some unusual options trading on Friday. Investors acquired 20,755 put options on the stock. This represents an increase of 1,445% compared to the typical volume of 1,343 put options.

Surgery Partners Price Performance

NASDAQ:SGRY traded down $0.53 during trading hours on Friday, hitting $19.30. 4,539,878 shares of the company's stock traded hands, compared to its average volume of 1,173,342. The firm has a market cap of $2.47 billion, a P/E ratio of -12.61 and a beta of 1.93. Surgery Partners has a 52 week low of $18.87 and a 52 week high of $33.97. The business's fifty day simple moving average is $22.36 and its two-hundred day simple moving average is $22.66. The company has a quick ratio of 1.73, a current ratio of 1.89 and a debt-to-equity ratio of 1.09.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SGRY shares. Macquarie reduced their price target on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $35.00 price target on shares of Surgery Partners in a research report on Tuesday, March 25th. Barclays reduced their price target 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 reiterated a "buy" rating and issued a $35.00 price target on shares of Surgery Partners in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.56.

Institutional Investors Weigh In On Surgery Partners

Several hedge funds have recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new stake in Surgery Partners during the first quarter worth about $1,017,000. Woodline Partners LP bought a new stake in Surgery Partners during the first quarter worth about $12,478,000. Empowered Funds LLC lifted its stake in Surgery Partners by 11.0% during the first quarter. Empowered Funds LLC now owns 12,853 shares of the company's stock worth $305,000 after purchasing an additional 1,278 shares during the last quarter. Caxton Associates LLP bought a new stake in Surgery Partners during the first quarter worth about $4,351,000. Finally, Twin Securities Inc. bought a new stake in Surgery Partners during the first quarter worth about $7,844,000.

About Surgery Partners

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.