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

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) saw strong trading volume on Wednesday . 1,672,223 shares traded hands during trading, an increase of 8% from the previous session’s volume of 1,548,301 shares.The stock last traded at $26.11 and had previously closed at $25.75.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. KeyCorp initiated coverage on shares of Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, December 3rd. Macquarie reissued an “outperform” rating and set a $34.00 target price on shares of Surgery Partners in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $43.00 price target on shares of Surgery Partners in a research note on Friday, October 4th. Finally, UBS Group started coverage on shares of Surgery Partners in a research report on Monday, October 14th. They set a “buy” rating and a $38.00 price objective on the stock. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.56.

Surgery Partners Stock Down 0.4 %

The company has a market cap of $3.26 billion, a price-to-earnings ratio of -53.38, a price-to-earnings-growth ratio of 14.10 and a beta of 2.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. The stock’s fifty day moving average is $21.45 and its two-hundred day moving average is $27.09.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company 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 for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. Sell-side analysts predict that Surgery Partners, Inc. will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Quarry LP increased its stake in Surgery Partners by 133.1% in the 2nd 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 last quarter. KBC Group NV grew its holdings in shares of Surgery Partners by 31.8% in the third quarter. KBC Group NV now owns 2,385 shares of the company’s stock valued at $77,000 after acquiring an additional 576 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Surgery Partners by 747.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock valued at $124,000 after acquiring an additional 3,379 shares during the last quarter. Empowered Funds LLC bought a new stake in Surgery Partners during the fourth quarter worth $245,000. Finally, Creative Planning purchased a new position in Surgery Partners in the third quarter worth $258,000.

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.