Surgery Partners, Inc. (NASDAQ:SGRY – Get Free Report)’s share price traded up 4.9% on Tuesday . The company traded as high as $14.42 and last traded at $14.5650. Approximately 255,382 shares were traded during trading, a decline of 84% from the average session volume of 1,640,204 shares. The stock had previously closed at $13.89.
Analyst Upgrades and Downgrades
SGRY has been the subject of a number of research reports. Raymond James Financial set a $18.00 target price on shares of Surgery Partners in a research report on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $18.00 price target on shares of Surgery Partners in a research note on Tuesday, August 11th. Jefferies Financial Group reissued a “buy” rating and set a $17.00 target price on shares of Surgery Partners in a research note on Wednesday, May 6th. Royal Bank Of Canada cut their price target on Surgery Partners from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research note on Friday, August 21st. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Surgery Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.45.
Read Our Latest Stock Analysis on Surgery Partners
Surgery Partners Trading Up 7.1%
Surgery Partners (NASDAQ:SGRY – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The firm had revenue of $848.90 million for the quarter, compared to analyst estimates of $830.03 million. During the same period last year, the firm posted $0.17 EPS. Surgery Partners’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts predict that Surgery Partners, Inc. will post 0.22 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Teresa Deluca bought 10,000 shares of Surgery Partners stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average cost of $14.35 per share, with a total value of $143,500.00. Following the completion of the transaction, the director owned 66,843 shares in the company, valued at approximately $959,197.05. This trade represents a 17.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Surgery Partners
Several institutional investors and hedge funds have recently made changes to their positions in SGRY. Public Employees Retirement System of Ohio acquired a new position in Surgery Partners in the second quarter worth about $38,000. Caitong International Asset Management Co. Ltd increased its position in Surgery Partners by 45,640.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock valued at $49,000 after acquiring an additional 2,282 shares during the period. PNC Financial Services Group Inc. raised its stake in Surgery Partners by 128.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock valued at $58,000 after acquiring an additional 1,519 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Surgery Partners by 5,324.0% in the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after purchasing an additional 3,993 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in shares of Surgery Partners during the third quarter valued at approximately $121,000.
Surgery Partners Company Profile
Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.
Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.
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