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

Surgery Partners, Inc. (NASDAQ:SGRY) shares rose 8.9% on Monday . The company traded as high as $22.19 and last traded at $22.17. Approximately 1,002,744 shares changed hands during trading, an increase of 1% from the average daily volume of 988,618 shares. The stock had previously closed at $20.36.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SGRY shares. JPMorgan Chase & Co. decreased their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, December 3rd. Macquarie reiterated an “outperform” rating and issued a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday, November 19th. UBS Group started coverage on shares of Surgery Partners in a research report on Monday, October 14th. They set a “buy” rating and a $38.00 price target for the company. Bank of America started coverage on shares of Surgery Partners in a research note on Monday. They set a “buy” rating and a $30.00 price objective for the company. Finally, Royal Bank of Canada dropped their price objective on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.56.

Surgery Partners Stock Performance

The firm’s fifty day moving average price is $26.59 and its 200 day moving average price is $27.89. 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 stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -41.42, a price-to-earnings-growth ratio of 17.40 and a beta of 2.58.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 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 company had revenue of $770.40 million during the quarter, compared to analyst estimates of $768.99 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. Analysts forecast that Surgery Partners, Inc. will post 0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Surgery Partners

Hedge funds have recently added to or reduced their stakes in the business. KBC Group NV lifted its holdings 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 buying an additional 576 shares in the last quarter. Quarry LP raised its holdings in shares of Surgery Partners by 133.1% in the 2nd quarter. Quarry LP now owns 3,082 shares of the company’s stock valued at $73,000 after purchasing an additional 1,760 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Surgery Partners by 747.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock valued at $124,000 after purchasing an additional 3,379 shares in the last quarter. Creative Planning acquired a new stake in shares of Surgery Partners in the 3rd quarter valued at $258,000. Finally, Versor Investments LP acquired a new stake in shares of Surgery Partners in the 3rd quarter valued at $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.