Surgery Partners (NASDAQ:SGRY) Sees Large Volume Increase – Here’s What Happened

Surgery Partners, Inc. (NASDAQ:SGRY) shares saw unusually-high trading volume on Thursday . Approximately 1,617,532 shares traded hands during trading, an increase of 103% from the previous session’s volume of 797,605 shares.The stock last traded at $20.42 and had previously closed at $20.35.

Wall Street Analysts Forecast Growth

SGRY has been the topic of several analyst reports. Bank of America began coverage on shares of Surgery Partners in a research note on Monday, December 16th. They set a “buy” rating and a $30.00 price target on the stock. Macquarie reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Surgery Partners in a report on Tuesday, November 19th. UBS Group began coverage on shares of Surgery Partners in a report on Monday, October 14th. They set a “buy” rating and a $38.00 price objective for the company. KeyCorp began coverage on shares of Surgery Partners in a report on Friday, October 11th. They set a “sector weight” rating for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $43.00 price objective on shares of Surgery Partners in a report on Friday, October 4th. One equities research 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.56.

Surgery Partners Trading Down 1.4 %

The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $21.40 and its two-hundred day simple moving average is $27.08. The stock has a market capitalization of $2.58 billion, a P/E ratio of -42.33, a P/E/G ratio of 14.10 and a beta of 2.58.

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

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in SGRY. Principal Financial Group Inc. acquired a new stake in shares of Surgery Partners during the 3rd quarter worth about $1,469,000. King Street Capital Management L.P. acquired a new stake in shares of Surgery Partners during the 3rd quarter worth about $46,748,000. Royce & Associates LP increased its position in shares of Surgery Partners by 12.2% during the 3rd quarter. Royce & Associates LP now owns 510,261 shares of the company’s stock worth $16,451,000 after purchasing an additional 55,545 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Surgery Partners by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company’s stock worth $60,117,000 after purchasing an additional 42,897 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Surgery Partners by 140.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company’s stock worth $42,892,000 after purchasing an additional 777,038 shares in 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.