Surgery Partners (NASDAQ:SGRY) Sets New 12-Month High at $24.76

Surgery Partners Inc (NASDAQ:SGRY) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.76 and last traded at $24.48, with a volume of 6764 shares trading hands. The stock had previously closed at $23.08.

A number of research firms recently issued reports on SGRY. Royal Bank of Canada reissued a “buy” rating and set a $23.00 price objective on shares of Surgery Partners in a research report on Thursday, August 6th. Benchmark boosted their price target on Surgery Partners from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Zacks Investment Research cut Surgery Partners from a “buy” rating to a “hold” rating in a research report on Thursday, August 13th. BidaskClub raised Surgery Partners from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 9th. Finally, Citigroup boosted their price objective on Surgery Partners from $15.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.70.

The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 2.93. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -8.80 and a beta of 3.50. The firm has a 50-day moving average of $18.95 and a two-hundred day moving average of $12.92.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.02. Surgery Partners had a negative return on equity of 3.23% and a negative net margin of 5.26%. The business had revenue of $374.70 million during the quarter, compared to analysts’ expectations of $370.17 million. As a group, equities analysts anticipate that Surgery Partners Inc will post -1.21 EPS for the current year.

In related news, Director Teresa Deluca sold 5,317 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $20.60, for a total transaction of $109,530.20. Following the transaction, the director now directly owns 31,811 shares in the company, valued at $655,306.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SGRY. Centerbridge Partners L.P. bought a new position in Surgery Partners during the first quarter valued at about $6,772,000. JPMorgan Chase & Co. increased its stake in Surgery Partners by 324.0% during the first quarter. JPMorgan Chase & Co. now owns 817,140 shares of the company’s stock valued at $5,336,000 after acquiring an additional 624,419 shares during the period. FMR LLC bought a new stake in shares of Surgery Partners in the 1st quarter valued at approximately $6,029,000. WCM Investment Management LLC bought a new stake in shares of Surgery Partners in the 2nd quarter valued at approximately $5,114,000. Finally, Vanguard Group Inc. grew its stake in shares of Surgery Partners by 31.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,759,165 shares of the company’s stock valued at $20,352,000 after purchasing an additional 423,371 shares during the period. Hedge funds and other institutional investors own 96.96% of the company’s stock.

About Surgery Partners (NASDAQ:SGRY)

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and related services in the United States. The company operates through three segments: Surgical Facility Services, Ancillary Services, and Optical Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.

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