Surgery Partners (NASDAQ:SGRY) Stock Price Up 8.9% – Here’s What Happened

Surgery Partners, Inc. (NASDAQ:SGRY) shares shot up 8.9% on Monday . The company traded as high as $22.19 and last traded at $22.17. 1,002,744 shares were traded during mid-day trading, an increase of 1% from the average session volume of 988,618 shares. The stock had previously closed at $20.36.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SGRY. KeyCorp began coverage on shares of Surgery Partners in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. JPMorgan Chase & Co. dropped their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. UBS Group began coverage on shares of Surgery Partners in a research report on Monday, October 14th. They issued a “buy” rating and a $38.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a research report on Friday, October 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $50.00 target price on shares of Surgery Partners in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Surgery Partners has an average rating of “Moderate Buy” and an average target price of $36.56.

Surgery Partners Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. The company has a market capitalization of $2.53 billion, a PE ratio of -41.42, a P/E/G ratio of 17.40 and a beta of 2.58. The company’s 50-day simple moving average is $26.59 and its 200-day simple moving average is $27.89.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The business had revenue of $770.40 million for the quarter, compared to analysts’ expectations of $768.99 million. During the same period in the previous year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Surgery Partners, Inc. will post 0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. KBC Group NV grew its position in Surgery Partners by 31.8% during the 3rd quarter. KBC Group NV now owns 2,385 shares of the company’s stock worth $77,000 after purchasing an additional 576 shares during the last quarter. Quarry LP boosted its holdings in shares of Surgery Partners by 133.1% in the second quarter. Quarry LP now owns 3,082 shares of the company’s stock valued at $73,000 after acquiring an additional 1,760 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Surgery Partners by 747.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock valued at $124,000 after acquiring an additional 3,379 shares in the last quarter. Creative Planning purchased a new stake in shares of Surgery Partners in the third quarter valued at about $258,000. Finally, Versor Investments LP purchased a new stake in shares of Surgery Partners in the third quarter valued at about $271,000.

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.