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

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) shares 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.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank of Canada lowered their price target on shares of Surgery Partners from $49.00 to $35.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. Macquarie reissued an "outperform" rating and set a $34.00 price objective on shares of Surgery Partners in a report on Tuesday, November 19th. UBS Group began coverage on shares of Surgery Partners in a report on Monday, October 14th. They issued a "buy" rating and a $38.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Surgery Partners from $38.00 to $28.00 and set a "neutral" rating for the company in a report on Tuesday, December 3rd. Finally, Bank of America assumed coverage on shares of Surgery Partners in a report on Monday, December 16th. They issued a "buy" rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Surgery Partners currently has an average rating of "Moderate Buy" and an average price target of $36.56.

Surgery Partners Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. The firm's 50-day simple moving average is $21.56 and its 200 day simple moving average is $27.07. The company has a market capitalization of $3.24 billion, a PE ratio of -53.10, a price-to-earnings-growth ratio of 17.84 and a beta of 2.58.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). The firm had revenue of $770.40 million during the quarter, compared to analyst estimates of $768.99 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The business's revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. As a group, equities research analysts forecast that Surgery Partners, Inc. will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

A number of institutional investors and hedge funds have recently bought and sold shares of SGRY. Quarry LP grew its holdings in 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 purchasing an additional 1,760 shares during the period. KBC Group NV increased its position in Surgery Partners by 31.8% during the 3rd quarter. KBC Group NV now owns 2,385 shares of the company's stock worth $77,000 after purchasing an additional 576 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Surgery Partners by 747.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company's stock valued at $124,000 after buying an additional 3,379 shares during the period. MeadowBrook Investment Advisors LLC lifted its position in Surgery Partners by 16.6% during the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company's stock valued at $218,000 after buying an additional 1,460 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Surgery Partners during the fourth quarter worth approximately $245,000.

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.