Surgery Partners (NASDAQ:SGRY) Sees Unusually-High Trading Volume – What’s Next?

Surgery Partners, Inc. (NASDAQ:SGRYGet Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,672,223 shares traded hands during trading, an increase of 8% from the previous session’s volume of 1,548,301 shares.The stock last traded at $26.11 and had previously closed at $25.75.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. KeyCorp began coverage on shares of Surgery Partners in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Bank of America began coverage on Surgery Partners in a research report on Monday, December 16th. They issued a “buy” rating and a $30.00 price objective for the company. Macquarie restated an “outperform” rating and issued a $34.00 target price on shares of Surgery Partners in a research report on Tuesday, November 19th. UBS Group assumed coverage on Surgery Partners in a report on Monday, October 14th. They set a “buy” rating and a $38.00 price target for the company. Finally, Royal Bank of Canada reduced their price objective on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Surgery Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.56.

Check Out Our Latest Report on SGRY

Surgery Partners Price Performance

The stock has a 50-day moving average price of $21.56 and a 200 day moving average price of $27.07. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80.

Surgery Partners (NASDAQ:SGRYGet Free Report) last announced its quarterly earnings data 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 negative net margin of 2.03% and a positive return on equity of 2.85%. Surgery Partners’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. On average, sell-side analysts predict that Surgery Partners, Inc. will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On Surgery Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Surgery Partners by 3.1% in the 3rd quarter. FMR LLC now owns 18,311,867 shares of the company’s stock valued at $590,375,000 after buying an additional 546,869 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Surgery Partners by 27.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company’s stock valued at $177,235,000 after purchasing an additional 1,184,450 shares during the period. Geode Capital Management LLC grew its stake in Surgery Partners by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company’s stock worth $60,117,000 after buying an additional 42,897 shares during the last quarter. King Street Capital Management L.P. purchased a new stake in Surgery Partners in the third quarter valued at approximately $46,748,000. Finally, Victory Capital Management Inc. grew its position in shares of Surgery Partners by 140.4% during the third quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company’s stock worth $42,892,000 after acquiring an additional 777,038 shares during the last quarter.

About Surgery Partners

(Get Free Report)

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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