Surgery Partners (NASDAQ:SGRY) Share Price Passes Above 50-Day Moving Average – What’s Next?

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $14.95 and traded as high as $16.34. Surgery Partners shares last traded at $16.30, with a volume of 600,932 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SGRY. Jefferies Financial Group reissued a “buy” rating and set a $17.00 target price on shares of Surgery Partners in a research note on Wednesday, May 6th. Zacks Research raised Surgery Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Surgery Partners has a consensus rating of “Moderate Buy” and an average price target of $22.18.

Surgery Partners Stock Up 1.7%

The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.69 and a current ratio of 1.86. The company has a market cap of $2.13 billion, a P/E ratio of -27.17, a P/E/G ratio of 4.79 and a beta of 1.89. The stock has a 50 day moving average price of $14.95 and a 200 day moving average price of $14.45.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.12. The business had revenue of $810.90 million during the quarter, compared to analysts’ expectations of $797.69 million. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.04 earnings per share. Research analysts expect that Surgery Partners, Inc. will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Surgery Partners

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Surgery Partners by 239.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock worth $35,000 after purchasing an additional 2,051 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Surgery Partners by 5,324.0% during the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after buying an additional 3,993 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Surgery Partners by 45,640.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after buying an additional 2,282 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Surgery Partners in the third quarter worth approximately $121,000. Finally, Alpine Global Management LLC bought a new position in shares of Surgery Partners in the fourth quarter valued at $175,000.

Surgery Partners Company Profile

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.