Surgery Partners (NASDAQ:SGRY) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) passed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $14.25 and traded as low as $13.68. Surgery Partners shares last traded at $14.24, with a volume of 1,212,434 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Surgery Partners from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Zacks Research downgraded Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Benchmark reissued a “buy” rating on shares of Surgery Partners in a research report on Tuesday, August 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $19.00 price target on shares of Surgery Partners in a research report on Wednesday, September 30th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Surgery Partners in a research note on Friday, October 2nd. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Surgery Partners Stock Up 1.9%

The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 72.75, a price-to-earnings-growth ratio of 4.50 and a beta of 1.90. The firm’s 50-day simple moving average is $14.22 and its 200-day simple moving average is $14.41. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. The firm had revenue of $848.90 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. Sell-side 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 related news, Director Teresa DeLuca acquired 10,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were bought at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the purchase, the director owned 66,843 shares in the company, valued at approximately $959,197.05. This trade represents a 17.59% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

Large investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in Surgery Partners during the second quarter worth about $1,205,000. Corient Private Wealth LP acquired a new stake in shares of Surgery Partners in the 2nd quarter valued at $1,211,000. Whitefort Capital Management LP bought a new stake in Surgery Partners during the 2nd quarter worth about $15,142,378. Hsbc Holdings PLC raised its stake in shares of Surgery Partners by 54.5% during the second quarter. Hsbc Holdings PLC now owns 2,958,912 shares of the company’s stock worth $48,912,000 after buying an additional 1,043,244 shares during the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in shares of Surgery Partners in the 2nd quarter valued at $2,941,000.

Surgery Partners Company Profile

Surgery Partners, Inc (NASDAQ:SGRY) is a healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals in partnership with physicians and health systems. Its facilities provide scheduled surgical care in outpatient and inpatient settings, with an emphasis on procedures that generally do not require extended hospital stays.

The company supports a range of specialties, including orthopedics, pain management, ophthalmology, gastroenterology, gynecology, and general surgery.