Surgery Partners (NASDAQ:SGRY) Shares Gap Up – Time to Buy?

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) gapped up prior to trading on Monday . The stock had previously closed at $30.46, but opened at $31.23. Surgery Partners shares last traded at $30.57, with a volume of 16,857 shares trading hands.

Wall Street Analyst Weigh In

SGRY has been the topic of a number of recent analyst reports. Macquarie initiated coverage on shares of Surgery Partners in a report on Friday, June 28th. They issued an “outperform” rating and a $31.00 price objective on the stock. KeyCorp assumed coverage on Surgery Partners in a research note on Friday, October 11th. They set a “sector weight” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a research report on Friday, October 4th. Benchmark restated a “buy” rating and issued a $50.00 price target on shares of Surgery Partners in a research note on Monday, August 26th. Finally, Citigroup cut their price target on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Surgery Partners has an average rating of “Moderate Buy” and a consensus target price of $39.63.

Surgery Partners Price Performance

The business has a 50 day simple moving average of $30.90 and a 200-day simple moving average of $27.84. The company has a market capitalization of $4.05 billion, a P/E ratio of -118.07, a PEG ratio of 2.33 and a beta of 2.75. The company has a quick ratio of 1.69, a current ratio of 1.83 and a debt-to-equity ratio of 0.96.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Surgery Partners had a negative net margin of 1.17% and a positive return on equity of 2.96%. The firm had revenue of $762.10 million during the quarter, compared to analyst estimates of $735.94 million. During the same period in the previous year, the business posted $0.25 EPS. Surgery Partners’s revenue was up 14.2% on a year-over-year basis. Analysts predict that Surgery Partners, Inc. will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Surgery Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in Surgery Partners by 3.7% during the 4th quarter. Wellington Management Group LLP now owns 8,318,176 shares of the company’s stock valued at $266,098,000 after acquiring an additional 295,476 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Surgery Partners by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 7,479,009 shares of the company’s stock worth $223,099,000 after buying an additional 61,400 shares in the last quarter. Clearbridge Investments LLC raised its holdings in 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 purchasing an additional 73,007 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its stake in Surgery Partners by 47.7% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock valued at $111,986,000 after purchasing an additional 1,520,484 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Surgery Partners by 26.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock valued at $66,643,000 after buying an additional 589,499 shares in the last quarter.

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.