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

Surgery Partners, Inc. (NASDAQ:SGRY)’s share 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 trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SGRY shares. KeyCorp assumed coverage on Surgery Partners in a research report on Friday, October 11th. They set a “sector weight” rating for the company. JPMorgan Chase & Co. cut their target price on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. Macquarie reiterated an “outperform” rating and set a $34.00 price target on shares of Surgery Partners in a report on Tuesday, November 19th. Bank of America began coverage on Surgery Partners in a research note on Monday, December 16th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Royal Bank of Canada lowered their target price 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.56.

Surgery Partners Stock Performance

The company has a 50-day moving average of $21.40 and a 200 day moving average of $27.13. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $3.20 billion, a PE ratio of -52.48, a PEG ratio of 14.10 and a beta of 2.58.

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

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently modified their holdings of SGRY. Quarry LP boosted its holdings in shares of Surgery Partners by 133.1% in the 2nd quarter. Quarry LP now owns 3,082 shares of the company’s stock worth $73,000 after purchasing an additional 1,760 shares in the last quarter. KBC Group NV boosted its holdings in shares of Surgery Partners by 31.8% in 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. boosted its holdings in shares of Surgery Partners by 747.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock worth $124,000 after purchasing an additional 3,379 shares in the last quarter. Creative Planning purchased a new position in shares of Surgery Partners in the 3rd quarter worth about $258,000. Finally, Versor Investments LP bought a new stake in shares of Surgery Partners in the 3rd quarter valued at about $271,000.

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.