Surgery Partners (NASDAQ:SGRY) Trading Up 7.8% – Still a Buy?

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price traded up 7.8% on Friday . The stock traded as high as $16.51 and last traded at $16.4010. 280,042 shares were traded during trading, a decline of 81% from the average daily volume of 1,487,515 shares. The stock had previously closed at $15.22.

Wall Street Analysts Forecast Growth

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

Surgery Partners Stock Performance

The company has a market capitalization of $2.12 billion, a P/E ratio of -26.80, a price-to-earnings-growth ratio of 4.53 and a beta of 1.89. The company’s 50 day moving average is $14.98 and its 200-day moving average is $14.44. The company has a current ratio of 1.86, a quick ratio of 1.69 and a debt-to-equity ratio of 1.17.

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

Institutional Trading of Surgery Partners

Several hedge funds and other institutional investors have recently made changes to their positions in SGRY. SG Americas Securities LLC increased its stake in Surgery Partners by 3,229.1% during the 4th quarter. SG Americas Securities LLC now owns 566,976 shares of the company’s stock valued at $8,760,000 after purchasing an additional 549,945 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Surgery Partners by 67.4% in the third quarter. JPMorgan Chase & Co. now owns 323,932 shares of the company’s stock worth $7,010,000 after buying an additional 130,392 shares in the last quarter. UBS Group AG lifted its stake in shares of Surgery Partners by 111.4% in the fourth quarter. UBS Group AG now owns 7,803,974 shares of the company’s stock worth $120,571,000 after buying an additional 4,113,052 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Surgery Partners by 104.2% during the fourth quarter. Hsbc Holdings PLC now owns 1,931,577 shares of the company’s stock valued at $30,151,000 after buying an additional 985,748 shares during the last quarter. Finally, Clearline Capital LP purchased a new stake in shares of Surgery Partners during the fourth quarter valued at approximately $3,088,000.

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.