Surgery Partners (NASDAQ:SGRY) Sees Large Volume Increase – Here’s Why

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) saw an uptick in trading volume on Monday . 737,102 shares changed hands during trading, an increase of 7% from the previous session’s volume of 685,897 shares.The stock last traded at $20.53 and had previously closed at $20.65.

Wall Street Analysts Forecast Growth

SGRY has been the subject of a number of recent research reports. UBS Group began coverage on Surgery Partners in a research report on Monday, October 14th. They issued a “buy” rating and a $38.00 target price for the company. Bank of America assumed coverage on shares of Surgery Partners in a research note on Monday, December 16th. They issued a “buy” rating and a $30.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a research report on Friday, October 4th. Royal Bank of Canada cut their price target on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, Macquarie reissued an “outperform” rating and issued a $34.00 target price on shares of Surgery Partners in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Surgery Partners has an average rating of “Moderate Buy” and an average price target of $36.56.

Surgery Partners Trading Down 6.2 %

The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The firm has a market cap of $2.52 billion, a PE ratio of -41.35, a PEG ratio of 17.40 and a beta of 2.58. The firm has a fifty day simple moving average of $22.64 and a two-hundred day simple moving average of $27.31.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The business had revenue of $770.40 million during the quarter, compared to analysts’ expectations of $768.99 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. Equities analysts forecast that Surgery Partners, Inc. will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Surgery Partners

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Surgery Partners by 3.1% during the 3rd quarter. FMR LLC now owns 18,311,867 shares of the company’s stock worth $590,375,000 after acquiring an additional 546,869 shares during the period. Clearbridge Investments LLC boosted its position in shares of Surgery Partners by 1.3% during the second quarter. Clearbridge Investments LLC now owns 5,585,530 shares of the company’s stock valued at $132,880,000 after purchasing an additional 73,007 shares in the last quarter. Janus Henderson Group PLC grew its stake in Surgery Partners by 27.5% in the third quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company’s stock worth $177,235,000 after purchasing an additional 1,184,450 shares during the period. Deerfield Management Company L.P. Series C raised its holdings in Surgery Partners by 47.7% in the second quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock worth $111,986,000 after purchasing an additional 1,520,484 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Surgery Partners by 26.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock valued at $66,643,000 after buying an additional 589,499 shares during the period.

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.