Surgery Partners (NASDAQ:SGRY) Shares Up 7.8% – What’s Next?

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price was up 7.8% on Friday . The stock traded as high as $16.51 and last traded at $16.4010. 280,042 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,487,515 shares. The stock had previously closed at $15.22.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SGRY. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research note on Tuesday, May 26th. Zacks Research raised Surgery Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Finally, Jefferies Financial Group restated a “buy” rating and set a $17.00 target price on shares of Surgery Partners in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.18.

Surgery Partners Stock Performance

The stock has a market cap of $2.06 billion, a PE ratio of -26.22, a price-to-earnings-growth ratio of 4.70 and a beta of 1.89. The stock has a fifty day moving average of $15.02 and a 200-day moving average of $14.45. The company has a quick ratio of 1.69, a current ratio of 1.86 and a debt-to-equity ratio of 1.17.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.12. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The firm had revenue of $810.90 million during the quarter, compared to the consensus estimate of $797.69 million. During the same period in the prior year, the business earned $0.04 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that Surgery Partners, Inc. will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Surgery Partners

Hedge funds have recently modified their holdings of the stock. Pentwater Capital Management LP lifted its stake in shares of Surgery Partners by 66.9% in the 3rd quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock worth $252,777,000 after acquiring an additional 4,681,000 shares during the period. UBS Group AG boosted its holdings in shares of Surgery Partners by 111.4% in the fourth quarter. UBS Group AG now owns 7,803,974 shares of the company’s stock valued at $120,571,000 after acquiring an additional 4,113,052 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Surgery Partners by 528.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,959,686 shares of the company’s stock valued at $30,277,000 after acquiring an additional 1,647,714 shares in the last quarter. Glenview Capital Management LLC acquired a new position in shares of Surgery Partners during the second quarter worth about $33,995,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Surgery Partners by 25.5% during the third quarter. Dimensional Fund Advisors LP now owns 4,860,215 shares of the company’s stock worth $105,177,000 after acquiring an additional 988,956 shares during the period.

About Surgery Partners

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.