Surgery Partners (NASDAQ:SGRY) Shares Gap Up – Here’s What Happened

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $15.75, but opened at $19.47. Surgery Partners shares last traded at $22.9950, with a volume of 114,561 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Surgery Partners in a research note on Friday, October 2nd. Weiss Ratings raised shares of Surgery Partners from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 16th. Zacks Research cut Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. raised their target price on Surgery Partners from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, September 14th. Finally, TD Cowen restated a “buy” rating and set a $19.00 price target on shares of Surgery Partners in a research report on Friday, September 18th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Surgery Partners Trading Up 46.3%

The business’s 50-day simple moving average is $14.21 and its two-hundred day simple moving average is $14.57. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -32.91, a PEG ratio of 4.87 and a beta of 1.90. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $848.90 million during the quarter, compared to analysts’ expectations of $830.03 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 earnings per share. Equities analysts forecast that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Surgery Partners

In other news, Director Teresa DeLuca acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average cost of $14.35 per share, with a total value of $143,500.00. Following the transaction, the director owned 66,843 shares in the company, valued at approximately $959,197.05. This trade represents a 17.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Jupiter Topco LLC acquired a new stake in shares of Surgery Partners in the 2nd quarter valued at about $233,220,000. Pentwater Capital Management LP purchased a new position in Surgery Partners during the second quarter worth about $195,384,000. BlackRock Inc. acquired a new stake in shares of Surgery Partners in the 2nd quarter valued at approximately $104,857,000. Hsbc Holdings PLC purchased a new stake in shares of Surgery Partners during the 2nd quarter worth $48,912,000. Finally, Bank of America Corp DE acquired a new position in Surgery Partners during the second quarter worth about $20,374,000.

Surgery Partners Company Profile

Surgery Partners, Inc is a U.S.-based healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals. The company works with physicians, health systems and other healthcare providers to deliver outpatient surgical care in facilities designed for same-day procedures.

Its facilities provide surgical services across specialties such as orthopedics, pain management, ophthalmology, gastroenterology, urology, gynecology and general surgery. Surgery Partners also supports its operations with clinical, administrative and revenue-cycle services intended to help physicians and facility partners manage patient care and practice operations.

Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners has expanded its platform through acquisitions, joint ventures and other partnerships.