Surgery Partners (NASDAQ:SGRY) Shares Gap Up to $25.60

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $25.60, but opened at $27.50. Surgery Partners shares last traded at $27.20, with a volume of 438,583 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SGRY. Barclays started coverage on Surgery Partners in a report on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 price target on shares of Surgery Partners in a report on Wednesday, April 10th. StockNews.com raised Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $49.00 price objective on shares of Surgery Partners in a research note on Thursday, February 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $50.00 price target on shares of Surgery Partners in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Surgery Partners has an average rating of “Moderate Buy” and a consensus price target of $43.13.

Surgery Partners Stock Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.71 and a quick ratio of 1.57. The company has a fifty day moving average of $27.30 and a two-hundred day moving average of $29.78. The stock has a market capitalization of $3.44 billion, a P/E ratio of -270.90, a price-to-earnings-growth ratio of 2.24 and a beta of 2.75.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. Surgery Partners had a positive return on equity of 3.65% and a negative net margin of 0.43%. The business had revenue of $735.40 million for the quarter, compared to analyst estimates of $741.93 million. During the same period in the prior year, the company posted $0.22 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Surgery Partners, Inc. will post 0.78 EPS for the current year.

Insider Activity at Surgery Partners

In other Surgery Partners news, CFO David T. Doherty sold 1,020 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $34.93, for a total value of $35,628.60. Following the transaction, the chief financial officer now owns 74,209 shares of the company’s stock, valued at $2,592,120.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Surgery Partners news, CEO Jason Eric Evans sold 5,780 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $35.08, for a total value of $202,762.40. Following the sale, the chief executive officer now owns 419,118 shares in the company, valued at $14,702,659.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David T. Doherty sold 1,020 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $34.93, for a total value of $35,628.60. Following the transaction, the chief financial officer now owns 74,209 shares of the company’s stock, valued at approximately $2,592,120.37. The disclosure for this sale can be found here. Insiders sold a total of 14,664 shares of company stock valued at $477,225 in the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently modified their holdings of SGRY. Raymond James & Associates lifted its holdings in shares of Surgery Partners by 1.2% in the third quarter. Raymond James & Associates now owns 61,188 shares of the company’s stock valued at $1,790,000 after buying an additional 736 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Surgery Partners by 6.3% in the third quarter. Bank of New York Mellon Corp now owns 317,983 shares of the company’s stock valued at $9,301,000 after buying an additional 18,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Surgery Partners by 15.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,506 shares of the company’s stock worth $307,000 after acquiring an additional 1,387 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Surgery Partners by 160.3% in the 3rd quarter. Inspire Investing LLC now owns 18,103 shares of the company’s stock worth $530,000 after acquiring an additional 11,147 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of Surgery Partners by 109.9% during the third quarter. TD Asset Management Inc now owns 207,982 shares of the company’s stock worth $6,083,000 after purchasing an additional 108,911 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.