Surgery Partners (NASDAQ:SGRY) Stock Price Up 8.9% - Time to Buy?

Shares of Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) traded up 8.9% on Monday . The company traded as high as $22.19 and last traded at $22.17. 1,002,744 shares were traded during trading, an increase of 1% from the average session volume of 988,618 shares. The stock had previously closed at $20.36.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $43.00 price objective on shares of Surgery Partners in a research note on Friday, October 4th. Benchmark reissued a "buy" rating and issued a $50.00 price target on shares of Surgery Partners in a research report on Monday, August 26th. Bank of America initiated coverage on shares of Surgery Partners in a research report on Monday. They set a "buy" rating and a $30.00 price objective on the stock. Royal Bank of Canada cut their target price on shares of Surgery Partners from $49.00 to $35.00 and set an "outperform" rating for the company in a research report on Wednesday, November 20th. Finally, Macquarie restated an "outperform" rating and set a $34.00 price target on shares of Surgery Partners in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.56.

Surgery Partners Stock Up 6.1 %

The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The business's fifty day moving average price is $26.93 and its two-hundred day moving average price is $27.98. The firm has a market cap of $2.75 billion, a P/E ratio of -45.00, a P/E/G ratio of 17.40 and a beta of 2.58.

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

Institutional Investors Weigh In On Surgery Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGRY. Franklin Resources Inc. grew its holdings in Surgery Partners by 19.5% during the third quarter. Franklin Resources Inc. now owns 21,324 shares of the company's stock valued at $677,000 after purchasing an additional 3,487 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Surgery Partners in the 3rd quarter valued at $626,000. King Street Capital Management L.P. acquired a new position in Surgery Partners in the 3rd quarter valued at $46,748,000. Geode Capital Management LLC raised its holdings in Surgery Partners by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company's stock worth $60,117,000 after acquiring an additional 42,897 shares during the period. Finally, MidWestOne Financial Group Inc. lifted its position in Surgery Partners by 3.8% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 73,502 shares of the company's stock worth $2,370,000 after acquiring an additional 2,716 shares during 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.

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