Surgery Partners (NASDAQ:SGRY) Shares Up 5.7% – Should You Buy?

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price shot up 5.7% during mid-day trading on Tuesday . The stock traded as high as $14.43 and last traded at $14.4440. Approximately 2,268,892 shares were traded during mid-day trading, an increase of 34% from the average session volume of 1,693,842 shares. The stock had previously closed at $13.66.

Analyst Upgrades and Downgrades

SGRY has been the subject of a number of recent research reports. Raymond James Financial set a $18.00 price objective on Surgery Partners in a research report on Tuesday, August 11th. 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 research report on Monday, September 14th. TD Cowen reaffirmed a “buy” rating and set a $19.00 target price on shares of Surgery Partners in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $18.00 price target on shares of Surgery Partners in a research report on Tuesday, August 11th. Finally, Benchmark reissued a “buy” rating on shares of Surgery Partners in a research note on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Surgery Partners Stock Up 10.2%

The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -21.35, a price-to-earnings-growth ratio of 3.64 and a beta of 1.92. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average of $14.77 and a two-hundred day moving average of $14.24.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $830.03 million. During the same period last year, the company posted $0.17 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Insider Activity at Surgery Partners

In related news, Director Teresa DeLuca acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average cost of $14.35 per share, with a total value of $143,500.00. Following the completion of the transaction, the director owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. This trade represents a 17.59% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

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

About Surgery Partners

Surgery Partners, Inc (NASDAQ: SGRY) is a healthcare services company that owns and operates a network of ambulatory surgery centers and surgical hospitals in the United States. The company works with physicians and health systems to provide outpatient and same-day surgical care in settings outside traditional hospital facilities.

Its services cover a range of specialties, including orthopedics, pain management, gastroenterology, ophthalmology, gynecology, urology and other procedural areas.