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

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price gapped up prior to trading 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 traded.

Analyst Upgrades and Downgrades

SGRY has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $43.00 target price on shares of Surgery Partners in a research note on Friday, October 4th. Bank of America initiated coverage on Surgery Partners in a research note on Monday, December 16th. They set a “buy” rating and a $30.00 target price on the stock. KeyCorp assumed coverage on Surgery Partners in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. Finally, Royal Bank of Canada dropped their price target on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. 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 company. According to MarketBeat.com, Surgery Partners currently has a consensus rating of “Moderate Buy” and an average target price of $36.56.

Surgery Partners Trading Up 18.5 %

The stock has a fifty day moving average of $21.40 and a 200 day moving average of $27.13. The company has a market capitalization of $3.20 billion, a P/E ratio of -52.48, a PEG ratio of 14.10 and a beta of 2.58. 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:SGRY) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The business 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 revenue was up 14.3% compared to the same quarter last year. During the same period in the prior 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 fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SGRY. Quarry LP grew its position in shares of Surgery Partners by 133.1% during 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 in the last quarter. KBC Group NV grew its position in Surgery Partners by 31.8% in the third quarter. KBC Group NV now owns 2,385 shares of the company’s stock worth $77,000 after acquiring an additional 576 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position 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 worth $124,000 after acquiring an additional 3,379 shares in the last quarter. Creative Planning purchased a new position in Surgery Partners in the third quarter worth about $258,000. Finally, Versor Investments LP purchased a new position in Surgery Partners in the third quarter worth about $271,000.

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.