Surgery Partners (NASDAQ:SGRY) Stock Price Up 5.7%

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) shot up 5.7% during mid-day trading on Monday . The stock traded as high as $26.45 and last traded at $25.92. 318,638 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 880,022 shares. The stock had previously closed at $24.53.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $43.00 target price on shares of Surgery Partners in a report on Wednesday, April 10th. Royal Bank of Canada restated an “outperform” rating and issued a $49.00 price target on shares of Surgery Partners in a research note on Thursday, February 29th. Citigroup dropped their target price on shares of Surgery Partners from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday. StockNews.com upgraded Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Barclays assumed coverage on shares of Surgery Partners in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $35.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.13.

Surgery Partners Trading Down 2.2 %

The business’s 50-day moving average is $27.46 and its two-hundred day moving average is $29.81. The stock has a market capitalization of $3.45 billion, a PE ratio of -270.70, a PEG ratio of 2.24 and a beta of 2.75. The company has a quick ratio of 1.57, a current ratio of 1.71 and a debt-to-equity ratio of 0.89.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Surgery Partners had a positive return on equity of 3.65% and a negative net margin of 0.43%. The company had revenue of $735.40 million during the quarter, compared to analysts’ expectations of $741.93 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts anticipate that Surgery Partners, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Bradley R. Owens sold 1,040 shares of Surgery Partners stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $35.22, for a total value of $36,628.80. Following the sale, the insider now owns 73,149 shares of the company’s stock, valued at $2,576,307.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO David T. Doherty sold 1,020 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $34.93, for a total value of $35,628.60. Following the completion of the sale, the chief financial officer now owns 74,209 shares in the company, valued at $2,592,120.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley R. Owens sold 1,040 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $35.22, for a total transaction of $36,628.80. Following the transaction, the insider now owns 73,149 shares in the company, valued at $2,576,307.78. The disclosure for this sale can be found here. Insiders sold a total of 14,664 shares of company stock valued at $477,225 over the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Surgery Partners

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Surgery Partners by 23.2% in the third quarter. Wellington Management Group LLP now owns 8,022,700 shares of the company’s stock valued at $234,664,000 after purchasing an additional 1,511,396 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in Surgery Partners during the 3rd quarter valued at approximately $42,705,000. Iron Triangle Partners LP bought a new stake in shares of Surgery Partners in the fourth quarter worth $33,415,000. Norges Bank bought a new position in Surgery Partners during the 4th quarter valued at $25,765,000. Finally, Vanguard Group Inc. grew its stake in Surgery Partners by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 7,417,609 shares of the company’s stock worth $237,289,000 after purchasing an additional 698,845 shares in the last quarter.

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.