Surgery Partners (NASDAQ:SGRY) Sets New 52-Week High – Should You Buy?

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) hit a new 52-week high during trading on Monday. The stock traded as high as $25.70 and last traded at $25.9670, with a volume of 441,815 shares trading hands. The stock had previously closed at $23.20.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SGRY. Benchmark restated a “buy” rating on shares of Surgery Partners in a research note on Tuesday, August 11th. UBS Group lowered Surgery Partners from a “buy” rating to a “hold” rating and increased their price target for the stock from $21.00 to $23.50 in a research note on Wednesday, October 28th. Royal Bank Of Canada cut Surgery Partners from a “moderate buy” rating to a “hold” rating and set a $23.50 price target on the stock. in a report on Monday, October 26th. Raymond James Financial set a $23.50 price objective on Surgery Partners in a research report on Monday, October 26th. Finally, JPMorgan Chase & Co. upped their price objective on Surgery Partners from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, September 14th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.14.

Surgery Partners Stock Performance

The business’s fifty day moving average is $16.04 and its two-hundred day moving average is $14.83. The stock has a market capitalization of $3.41 billion, a PE ratio of -37.14 and a beta of 1.85. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The company had revenue of $848.90 million for the quarter, compared to the consensus estimate of $830.03 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Surgery Partners’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts anticipate that Surgery Partners, Inc. will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling at Surgery Partners

In other Surgery Partners news, Director Teresa DeLuca bought 10,000 shares of Surgery Partners stock in a transaction dated Tuesday, August 18th. The shares were purchased at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the acquisition, the director directly owned 66,843 shares in the company, valued at approximately $959,197.05. This represents a 17.59% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SGRY. Jefferies Financial Group Inc. purchased a new stake in Surgery Partners in the 3rd quarter worth about $560,000. Vise Technologies Inc. purchased a new position in shares of Surgery Partners during the third quarter valued at approximately $191,000. State of Wyoming boosted its position in shares of Surgery Partners by 51.4% during the third quarter. State of Wyoming now owns 23,568 shares of the company’s stock valued at $327,000 after buying an additional 7,997 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Surgery Partners during the third quarter valued at approximately $426,000. Finally, Inspire Investing LLC grew its stake in shares of Surgery Partners by 10.1% during the third quarter. Inspire Investing LLC now owns 44,768 shares of the company’s stock valued at $621,000 after buying an additional 4,099 shares during the last quarter.

About Surgery Partners

Surgery Partners, Inc is a U.S.-based healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals. The company works with physicians, health systems and other healthcare providers to deliver outpatient surgical care in facilities designed for same-day procedures.

Its facilities provide surgical services across specialties such as orthopedics, pain management, ophthalmology, gastroenterology, urology, gynecology and general surgery. Surgery Partners also supports its operations with clinical, administrative and revenue-cycle services intended to help physicians and facility partners manage patient care and practice operations.

Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners has expanded its platform through acquisitions, joint ventures and other partnerships.