Surgery Partners (NASDAQ:SGRY) Share Price Crosses Above 50-Day Moving Average - Time to Sell?

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $31.24 and traded as high as $32.23. Surgery Partners shares last traded at $31.55, with a volume of 571,727 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SGRY shares. StockNews.com cut Surgery Partners from a "hold" rating to a "sell" rating in a report on Wednesday, August 7th. Macquarie initiated coverage on shares of Surgery Partners in a research note on Friday, June 28th. They issued an "outperform" rating and a $31.00 target price for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $43.00 target price on shares of Surgery Partners in a research note on Friday, October 4th. Benchmark reiterated a "buy" rating and issued a $50.00 target price on shares of Surgery Partners in a research note on Monday, August 26th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $49.00 target price on shares of Surgery Partners in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Surgery Partners presently has an average rating of "Moderate Buy" and an average target price of $39.63.

Surgery Partners Price Performance

The company's 50-day simple moving average is $31.26 and its 200-day simple moving average is $28.05. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.83 and a quick ratio of 1.69. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -114.33, a P/E/G ratio of 2.45 and a beta of 2.75.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share 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 company had revenue of $762.10 million during the quarter, compared to the consensus estimate of $735.94 million. During the same period in the previous year, the business earned $0.25 earnings per share. The firm's quarterly revenue was up 14.2% on a year-over-year basis. Research analysts forecast that Surgery Partners, Inc. will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surgery Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP raised its position in shares of Surgery Partners by 133.1% in the second quarter. Quarry LP now owns 3,082 shares of the company's stock valued at $73,000 after buying an additional 1,760 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Surgery Partners by 102.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company's stock valued at $80,000 after acquiring an additional 1,375 shares during the last quarter. EntryPoint Capital LLC increased its stake in Surgery Partners by 257.1% in the first quarter. EntryPoint Capital LLC now owns 6,399 shares of the company's stock valued at $191,000 after acquiring an additional 4,607 shares during the last quarter. Creative Planning bought a new position in Surgery Partners in the third quarter valued at approximately $258,000. Finally, Capstone Investment Advisors LLC increased its stake in Surgery Partners by 38.7% in the first quarter. Capstone Investment Advisors LLC now owns 9,151 shares of the company's stock valued at $273,000 after acquiring an additional 2,551 shares during 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.