Surgery Partners (NASDAQ:SGRY) Sets New 12-Month High – Here’s What Happened

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price hit a new 52-week high during trading on Monday. The company traded as high as $25.70 and last traded at $25.9670, with a volume of 441,815 shares traded. The stock had previously closed at $23.20.

Analysts Set New Price Targets

Several brokerages recently issued reports on SGRY. Zacks Research lowered shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. UBS Group lowered Surgery Partners from a “buy” rating to a “hold” rating and upped their target price for the stock from $21.00 to $23.50 in a report on Wednesday, October 28th. Stonex Financial cut Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Benchmark reiterated a “buy” rating on shares of Surgery Partners in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada cut Surgery Partners from a “moderate buy” rating to a “hold” rating and set a $23.50 price objective for the company. in a research note on Monday, October 26th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.14.

Surgery Partners Stock Up 12.2%

The company’s fifty day simple moving average is $16.04 and its 200-day simple moving average is $14.83. The firm has a market capitalization of $3.41 billion, a PE ratio of -37.14 and a beta of 1.85. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%. The firm had revenue of $848.90 million for the quarter, compared to the consensus estimate of $830.03 million. During the same period in the previous year, the business earned $0.17 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts forecast that Surgery Partners, Inc. will post 0.07 EPS for the current year.

Insiders Place Their Bets

In other Surgery Partners news, Director Teresa DeLuca purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average price of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the purchase, the director owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SGRY. Swiss National Bank grew its holdings in shares of Surgery Partners by 1.1% during the first quarter. Swiss National Bank now owns 153,500 shares of the company’s stock valued at $1,830,000 after buying an additional 1,700 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Surgery Partners by 239.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock valued at $35,000 after purchasing an additional 2,051 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Surgery Partners in the second quarter worth about $38,000. Fifth Third Bancorp raised its stake in shares of Surgery Partners by 5,324.0% in the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after purchasing an additional 3,993 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Surgery Partners by 10.1% during the third quarter. Inspire Investing LLC now owns 44,768 shares of the company’s stock worth $621,000 after purchasing an additional 4,099 shares during the period.

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.