Shares of Surgery Partners Inc (NASDAQ:SGRY) rose 6.7% during trading on Tuesday . The stock traded as high as $15.24 and last traded at $15.15. Approximately 631,625 shares changed hands during trading, an increase of 92% from the average daily volume of 329,215 shares. The stock had previously closed at $14.20.
Several equities analysts have recently issued reports on SGRY shares. Royal Bank of Canada upped their price target on Surgery Partners from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. Stifel Nicolaus raised Surgery Partners from a “sell” rating to a “hold” rating and set a $15.00 price target on the stock in a research note on Thursday, June 28th. BidaskClub raised Surgery Partners from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Zacks Investment Research raised Surgery Partners from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, October 10th. Finally, Leerink Swann upped their price target on Surgery Partners from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Surgery Partners currently has a consensus rating of “Buy” and a consensus price target of $18.86.
The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.69. The company has a market cap of $806.89 million, a PE ratio of -18.40 and a beta of 1.90.
Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.07. Surgery Partners had a negative return on equity of 1.67% and a negative net margin of 5.56%. The business had revenue of $444.78 million for the quarter, compared to analyst estimates of $428.50 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 54.2% compared to the same quarter last year. Equities research analysts predict that Surgery Partners Inc will post -0.49 earnings per share for the current fiscal year.
In other Surgery Partners news, insider Brandan Lingle sold 10,000 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $18.15, for a total value of $181,500.00. Following the transaction, the insider now owns 20,393 shares of the company’s stock, valued at $370,132.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in Surgery Partners by 76.6% in the second quarter. US Bancorp DE now owns 7,328 shares of the company’s stock valued at $109,000 after buying an additional 3,179 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Surgery Partners by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 102,669 shares of the company’s stock valued at $1,530,000 after buying an additional 3,336 shares during the period. Bank of New York Mellon Corp lifted its stake in Surgery Partners by 8.5% in the second quarter. Bank of New York Mellon Corp now owns 93,771 shares of the company’s stock valued at $1,397,000 after buying an additional 7,332 shares during the period. MetLife Investment Advisors LLC acquired a new position in Surgery Partners in the first quarter valued at about $164,000. Finally, Bank of Montreal Can acquired a new position in Surgery Partners in the second quarter valued at about $149,000. 97.53% of the stock is currently owned by hedge funds and other institutional investors.
Surgery Partners Company Profile (NASDAQ:SGRY)
Surgery Partners, Inc, through its subsidiaries, operates surgical facilities in the United States. The company operates through three segments: Surgical Facility Services, Ancillary Services, and Optical Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.
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