Surgery Partners (NASDAQ:SGRY) Shares Cross Above 50-Day Moving Average – Here’s Why

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $31.24 and traded as high as $32.23. Surgery Partners shares last traded at $31.55, with a volume of 571,727 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SGRY. Royal Bank of Canada reissued an “outperform” rating and set a $49.00 target price on shares of Surgery Partners in a research report on Wednesday, August 7th. KeyCorp began coverage on shares of Surgery Partners in a research report on Friday, October 11th. They set a “sector weight” rating for the company. Benchmark reissued a “buy” rating and set a $50.00 target price on shares of Surgery Partners in a research report on Monday, August 26th. StockNews.com downgraded shares of Surgery Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, Citigroup reduced their target price on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Surgery Partners has a consensus rating of “Moderate Buy” and a consensus target price of $39.63.

Surgery Partners Stock Performance

The company has a current ratio of 1.83, a quick ratio of 1.69 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $4.01 billion, a P/E ratio of -116.85, a P/E/G ratio of 2.57 and a beta of 2.75. The company’s fifty day moving average is $31.24 and its 200 day moving average is $28.03.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. Surgery Partners had a negative net margin of 1.17% and a positive return on equity of 2.96%. The business had revenue of $762.10 million for the quarter, compared to analysts’ expectations of $735.94 million. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities analysts anticipate that Surgery Partners, Inc. will post 0.84 earnings per share for the current year.

Institutional Trading of Surgery Partners

Several institutional investors and hedge funds have recently bought and sold shares of SGRY. Quarry LP lifted its stake in 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. DekaBank Deutsche Girozentrale raised its position in shares of Surgery Partners by 102.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock valued at $80,000 after buying an additional 1,375 shares in the last quarter. EntryPoint Capital LLC raised its position in shares of Surgery Partners by 257.1% during the 1st quarter. EntryPoint Capital LLC now owns 6,399 shares of the company’s stock valued at $191,000 after buying an additional 4,607 shares in the last quarter. Creative Planning purchased a new stake in shares of Surgery Partners during the 3rd quarter valued at $258,000. Finally, Capstone Investment Advisors LLC raised its position in shares of Surgery Partners by 38.7% during the 1st quarter. Capstone Investment Advisors LLC now owns 9,151 shares of the company’s stock valued at $273,000 after buying an additional 2,551 shares in 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.