Surgery Partners (NASDAQ:SGRY) Shares Up 5.7%

Surgery Partners, Inc. (NASDAQ:SGRY) shares were up 5.7% during mid-day trading on Monday . The stock traded as high as $26.45 and last traded at $25.92. Approximately 318,638 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 880,022 shares. The stock had previously closed at $24.53.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $49.00 price target on shares of Surgery Partners in a research note on Thursday, February 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a research note on Wednesday, April 10th. Citigroup dropped their price target on shares of Surgery Partners from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Benchmark reiterated a “buy” rating and issued a $50.00 price objective on shares of Surgery Partners in a research note on Wednesday, May 1st. Finally, StockNews.com raised Surgery Partners from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.63.

Surgery Partners Stock Performance

The company has a 50-day moving average of $27.63 and a 200 day moving average of $29.79. The firm has a market capitalization of $3.25 billion, a PE ratio of -260.60, a PEG ratio of 2.24 and a beta of 2.75. The company has a quick ratio of 1.57, a current ratio of 1.71 and a debt-to-equity ratio of 0.89.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $735.40 million for the quarter, compared to analysts’ expectations of $741.93 million. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. Surgery Partners’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. Equities research analysts predict that Surgery Partners, Inc. will post 0.78 EPS for the current year.

Insider Transactions at Surgery Partners

In related news, CEO Jason Eric Evans sold 5,780 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $35.08, for a total value of $202,762.40. Following the completion of the transaction, the chief executive officer now directly owns 419,118 shares in the company, valued at $14,702,659.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jason Eric Evans sold 5,780 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $35.08, for a total value of $202,762.40. Following the completion of the sale, the chief executive officer now owns 419,118 shares in the company, valued at approximately $14,702,659.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradley R. Owens sold 1,040 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $35.22, for a total transaction of $36,628.80. Following the transaction, the insider now owns 73,149 shares in the company, valued at $2,576,307.78. The disclosure for this sale can be found here. Insiders have sold 14,831 shares of company stock valued at $482,609 in the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Trading of Surgery Partners

Several hedge funds have recently added to or reduced their stakes in SGRY. DekaBank Deutsche Girozentrale bought a new position in shares of Surgery Partners during the third quarter valued at about $39,000. Strs Ohio purchased a new stake in Surgery Partners during the 4th quarter valued at about $51,000. Signaturefd LLC bought a new position in Surgery Partners during the 3rd quarter worth approximately $56,000. Nisa Investment Advisors LLC increased its stake in Surgery Partners by 69.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,945 shares of the company’s stock worth $86,000 after purchasing an additional 1,210 shares during the period. Finally, Mesirow Institutional Investment Management Inc. lifted its position in Surgery Partners by 12.4% in the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 3,388 shares of the company’s stock valued at $108,000 after purchasing an additional 373 shares during the last quarter.

About Surgery Partners

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.