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

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $21.25, but opened at $25.50. Surgery Partners shares last traded at $24.94, with a volume of 2,696,515 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SGRY shares. UBS Group initiated coverage on Surgery Partners in a report on Monday, October 14th. They set a “buy” rating and a $38.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a report on Friday, October 4th. Macquarie restated an “outperform” rating and set a $34.00 price target on shares of Surgery Partners in a report on Tuesday, November 19th. Royal Bank of Canada decreased their price target on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Finally, KeyCorp assumed coverage on shares of Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.56.

Surgery Partners Stock Performance

The stock’s fifty day moving average is $21.52 and its 200-day moving average is $27.08. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The firm had revenue of $770.40 million for the quarter, compared to analysts’ expectations of $768.99 million. During the same period last year, the company posted $0.15 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. On average, research analysts anticipate that Surgery Partners, Inc. will post 0.71 EPS for the current year.

Institutional Trading of Surgery Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. acquired a new stake in Surgery Partners in the 2nd quarter valued at about $699,000. Mackenzie Financial Corp raised its stake in shares of Surgery Partners by 3.4% in the 2nd quarter. Mackenzie Financial Corp now owns 19,999 shares of the company’s stock valued at $476,000 after acquiring an additional 662 shares during the period. Quarry LP boosted its position 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 period. Clearbridge Investments LLC grew its position in shares of Surgery Partners by 1.3% during the second quarter. Clearbridge Investments LLC now owns 5,585,530 shares of the company’s stock worth $132,880,000 after buying an additional 73,007 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Surgery Partners by 35.1% during the third quarter. Handelsbanken Fonder AB now owns 18,100 shares of the company’s stock worth $584,000 after purchasing an additional 4,700 shares in the last quarter.

Surgery Partners Company Profile

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.