Surgery Partners (NASDAQ:SGRY) Trading Up 6.3% – Still a Buy?

Surgery Partners, Inc. (NASDAQ:SGRY) shares traded up 6.3% during mid-day trading on Thursday . The company traded as high as $15.91 and last traded at $15.94. 1,147,582 shares were traded during mid-day trading, a decline of 21% from the average session volume of 1,458,154 shares. The stock had previously closed at $15.00.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Surgery Partners from $27.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. UBS Group cut their target price on Surgery Partners from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Benchmark decreased their price target on Surgery Partners from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Mizuho dropped their price objective on Surgery Partners from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, December 18th. Finally, Barclays cut their price objective on Surgery Partners from $24.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, November 21st. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Surgery Partners has an average rating of “Moderate Buy” and a consensus target price of $27.11.

Surgery Partners Trading Down 0.2%

The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.72 and a current ratio of 1.88. The firm has a market capitalization of $2.00 billion, a P/E ratio of -11.37 and a beta of 1.97. The firm has a 50 day moving average price of $15.45 and a two-hundred day moving average price of $18.92.

Institutional Investors Weigh In On Surgery Partners

A number of large investors have recently made changes to their positions in SGRY. Jones Financial Companies Lllp boosted its stake in Surgery Partners by 313.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after purchasing an additional 930 shares during the period. AlphaQuest LLC raised its stake in Surgery Partners by 94.4% during the 2nd quarter. AlphaQuest LLC now owns 2,057 shares of the company’s stock valued at $46,000 after purchasing an additional 999 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Surgery Partners by 45,640.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock valued at $49,000 after purchasing an additional 2,282 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Surgery Partners by 128.4% in the third quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock worth $58,000 after buying an additional 1,519 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Surgery Partners in the second quarter worth $115,000.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.