Surgery Partners (NASDAQ:SGRY) Sees Large Volume Increase – What’s Next?

Surgery Partners, Inc. (NASDAQ:SGRY) saw unusually-high trading volume on Wednesday . Approximately 4,177,601 shares changed hands during mid-day trading, an increase of 198% from the previous session’s volume of 1,402,434 shares.The stock last traded at $14.8710 and had previously closed at $13.93.

Wall Street Analysts Forecast Growth

SGRY has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a report on Monday, December 29th. Benchmark reduced their target price on Surgery Partners from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. JPMorgan Chase & Co. decreased their price target on Surgery Partners from $27.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Mizuho dropped their price objective on shares of Surgery Partners from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. Finally, UBS Group cut their price objective on shares of Surgery Partners from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Surgery Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.11.

Surgery Partners Trading Up 7.7%

The firm’s 50 day simple moving average is $15.57 and its 200-day simple moving average is $19.03. The company has a market capitalization of $1.94 billion, a PE ratio of -11.03 and a beta of 1.97. The company has a quick ratio of 1.72, a current ratio of 1.88 and a debt-to-equity ratio of 1.10.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $821.50 million during the quarter, compared to analyst estimates of $823.55 million. Surgery Partners had a negative net margin of 5.21% and a positive return on equity of 2.41%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share. As a group, equities research analysts anticipate that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Hedge Funds Weigh In On Surgery Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Surgery Partners by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock valued at $1,085,000 after acquiring an additional 2,015 shares in the last quarter. Millennium Management LLC grew its holdings in Surgery Partners by 1,253.7% during the 1st quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock valued at $4,804,000 after purchasing an additional 219,806 shares in the last quarter. Empowered Funds LLC grew its holdings in Surgery Partners by 11.0% during the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock valued at $305,000 after purchasing an additional 1,278 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in Surgery Partners by 22.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 15,800 shares of the company’s stock worth $351,000 after buying an additional 2,900 shares during the period. Finally, Inspire Investing LLC lifted its holdings in Surgery Partners by 21.6% in the 2nd quarter. Inspire Investing LLC now owns 17,647 shares of the company’s stock worth $392,000 after buying an additional 3,138 shares in the last quarter.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.