Surgery Partners (NASDAQ:SGRY) Shares Gap Up – Still a Buy?

by · The Markets Daily

Surgery Partners, Inc. (NASDAQ:SGRY – Get Free Report)’s share price gapped up before the market opened on Monday . The stock had previously closed at $30.46, but opened at $31.23. Surgery Partners shares last traded at $30.57, with a volume of 16,857 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Macquarie began coverage on shares of Surgery Partners in a research note on Friday, June 28th. They issued an “outperform” rating and a $31.00 price objective for the company. StockNews.com lowered Surgery Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. KeyCorp started coverage on Surgery Partners in a research report on Friday. They set a “sector weight” rating on the stock. Citigroup dropped their target price on Surgery Partners from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $49.00 target price on shares of Surgery Partners in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Surgery Partners has a consensus rating of “Moderate Buy” and an average price target of $39.63.

Read Our Latest Report on SGRY

Surgery Partners Stock Performance

The firm has a market capitalization of $4.00 billion, a P/E ratio of -115.66, a P/E/G ratio of 2.33 and a beta of 2.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.83 and a quick ratio of 1.69. The firm has a 50-day moving average price of $30.79 and a two-hundred day moving average price of $27.81.

Surgery Partners (NASDAQ:SGRY – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $762.10 million during the quarter, compared to analyst estimates of $735.94 million. Surgery Partners had a negative net margin of 1.17% and a positive return on equity of 2.96%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, analysts forecast that Surgery Partners, Inc. will post 0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its position in Surgery Partners by 102.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock valued at $80,000 after purchasing an additional 1,375 shares in the last quarter. Quarry LP increased its stake in shares of Surgery Partners by 133.1% during the second quarter. Quarry LP now owns 3,082 shares of the company’s stock valued at $73,000 after buying an additional 1,760 shares during the period. EntryPoint Capital LLC raised its holdings in shares of Surgery Partners by 257.1% in the first quarter. EntryPoint Capital LLC now owns 6,399 shares of the company’s stock valued at $191,000 after acquiring an additional 4,607 shares in the last quarter. Creative Planning purchased a new stake in Surgery Partners in the third quarter worth about $258,000. Finally, Capstone Investment Advisors LLC grew its holdings in Surgery Partners by 38.7% during the 1st quarter. Capstone Investment Advisors LLC now owns 9,151 shares of the company’s stock worth $273,000 after acquiring an additional 2,551 shares in the last quarter.

About Surgery Partners

(Get Free Report)

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.

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