Surgery Partners (NASDAQ:SGRY) Trading 2.6% Higher

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price shot up 2.6% during mid-day trading on Friday . The stock traded as high as $26.83 and last traded at $26.61. 241,209 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 886,091 shares. The stock had previously closed at $25.94.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SGRY. Citigroup lowered their price objective on shares of Surgery Partners from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Barclays began coverage on shares of Surgery Partners in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $35.00 price objective for the company. StockNews.com raised shares of Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of Surgery Partners in a research report on Thursday, February 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $43.00 price objective on shares of Surgery Partners in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.63.

Surgery Partners Price Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.71 and a quick ratio of 1.57. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -263.30, a P/E/G ratio of 2.29 and a beta of 2.71. The business’s 50-day moving average price is $30.25 and its two-hundred day moving average price is $29.99.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Monday, February 26th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The business had revenue of $735.40 million during the quarter, compared to the consensus estimate of $741.93 million. During the same quarter last year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts forecast that Surgery Partners, Inc. will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Surgery Partners news, insider Marissa Brittenham sold 1,637 shares of Surgery Partners stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $31.89, for a total value of $52,203.93. Following the completion of the transaction, the insider now owns 30,469 shares of the company’s stock, valued at $971,656.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Surgery Partners news, insider Marissa Brittenham sold 1,637 shares of Surgery Partners stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $31.89, for a total value of $52,203.93. Following the completion of the transaction, the insider now owns 30,469 shares of the company’s stock, valued at $971,656.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bradley R. Owens sold 1,040 shares of Surgery Partners stock in a transaction on Monday, February 12th. The stock was sold at an average price of $35.22, for a total transaction of $36,628.80. Following the completion of the transaction, the insider now directly owns 73,149 shares of the company’s stock, valued at approximately $2,576,307.78. The disclosure for this sale can be found here. Insiders sold a total of 18,774 shares of company stock valued at $608,352 over the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Surgery Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in Surgery Partners by 34.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,195 shares of the company’s stock valued at $66,000 after buying an additional 308 shares during the last quarter. Mesirow Institutional Investment Management Inc. lifted its stake 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 buying an additional 373 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Surgery Partners by 35.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,709 shares of the company’s stock valued at $47,000 after buying an additional 449 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Surgery Partners in the second quarter valued at $27,000. Finally, Metropolitan Life Insurance Co NY lifted its stake in Surgery Partners by 25.9% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,025 shares of the company’s stock valued at $84,000 after buying an additional 622 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.