Surgery Partners (NASDAQ:SGRY) Shares Gap Up to $25.60

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $25.60, but opened at $27.50. Surgery Partners shares last traded at $27.20, with a volume of 438,583 shares traded.

Analyst Upgrades and Downgrades

SGRY has been the subject of several research reports. Citigroup lowered their price objective on shares of Surgery Partners from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. StockNews.com upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Barclays initiated coverage on shares of Surgery Partners in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $50.00 price objective on shares of Surgery Partners in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $49.00 target price on shares of Surgery Partners in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Surgery Partners has an average rating of “Moderate Buy” and a consensus price target of $43.63.

Surgery Partners Stock Up 9.2 %

The company has a market cap of $3.55 billion, a PE ratio of -283.50, a P/E/G ratio of 2.24 and a beta of 2.75. The company’s 50 day moving average is $27.54 and its 200 day moving average is $29.79. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 0.89.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $735.40 million for the quarter, compared to the consensus estimate of $741.93 million. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 EPS. As a group, analysts predict that Surgery Partners, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Surgery Partners news, CEO Jason Eric Evans sold 4,840 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $29.71, for a total transaction of $143,796.40. Following the transaction, the chief executive officer now owns 459,670 shares of the company’s stock, valued at approximately $13,656,795.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Surgery Partners news, CFO David T. Doherty sold 1,020 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $34.93, for a total transaction of $35,628.60. Following the transaction, the chief financial officer now owns 74,209 shares of the company’s stock, valued at approximately $2,592,120.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason Eric Evans sold 4,840 shares of Surgery Partners stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $29.71, for a total transaction of $143,796.40. Following the completion of the transaction, the chief executive officer now directly owns 459,670 shares in the company, valued at approximately $13,656,795.70. The disclosure for this sale can be found here. Insiders have sold 14,664 shares of company stock valued at $477,225 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capstone Investment Advisors LLC grew its position in shares of Surgery Partners by 38.7% in the 1st quarter. Capstone Investment Advisors LLC now owns 9,151 shares of the company’s stock worth $273,000 after buying an additional 2,551 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Surgery Partners by 33.7% in the 1st quarter. BNP Paribas Financial Markets now owns 421,137 shares of the company’s stock worth $12,563,000 after buying an additional 106,054 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Surgery Partners by 16.3% in the 1st quarter. Principal Financial Group Inc. now owns 10,073 shares of the company’s stock worth $300,000 after buying an additional 1,409 shares during the last quarter. WCM Investment Management LLC grew its position in shares of Surgery Partners by 0.5% in the 1st quarter. WCM Investment Management LLC now owns 508,488 shares of the company’s stock worth $15,168,000 after buying an additional 2,652 shares during the last quarter. Finally, Wesbanco Bank Inc. purchased a new position in shares of Surgery Partners in the 1st quarter worth approximately $766,000.

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.