Surgery Partners (NASDAQ:SGRY) Trading Down 3.9%

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price fell 3.9% during mid-day trading on Thursday . The company traded as low as $23.28 and last traded at $23.52. 278,122 shares were traded during mid-day trading, a decline of 68% from the average session volume of 872,084 shares. The stock had previously closed at $24.47.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SGRY. StockNews.com raised shares of Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $49.00 target price on shares of Surgery Partners in a research report on Thursday, February 29th. Citigroup reduced their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $43.00 price objective on shares of Surgery Partners in a research report on Wednesday, April 10th. Finally, Barclays began 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.63.

Surgery Partners Price Performance

The company has a quick ratio of 1.57, a current ratio of 1.71 and a debt-to-equity ratio of 0.89. The business’s fifty day moving average price is $29.62 and its 200 day moving average price is $29.87.

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

Insider Activity

In other news, insider Marissa Brittenham sold 1,637 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $31.89, for a total value of $52,203.93. Following the completion of the transaction, the insider now owns 30,469 shares of the company’s stock, valued at $971,656.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Surgery Partners news, insider Bradley R. Owens sold 1,040 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $35.22, for a total transaction of $36,628.80. Following the completion of the sale, the insider now owns 73,149 shares of the company’s stock, valued at approximately $2,576,307.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marissa Brittenham sold 1,637 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $31.89, for a total transaction of $52,203.93. Following the sale, the insider now directly owns 30,469 shares of the company’s stock, valued at approximately $971,656.41. The disclosure for this sale can be found here. Insiders sold 18,774 shares of company stock valued at $608,352 over the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Trading of Surgery Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Surgery Partners by 3.7% during the 4th quarter. Wellington Management Group LLP now owns 8,318,176 shares of the company’s stock worth $266,098,000 after buying an additional 295,476 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Surgery Partners by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 7,417,609 shares of the company’s stock worth $237,289,000 after purchasing an additional 698,845 shares in the last quarter. Durable Capital Partners LP lifted its holdings in shares of Surgery Partners by 174.3% in the 4th quarter. Durable Capital Partners LP now owns 5,853,995 shares of the company’s stock worth $163,092,000 after purchasing an additional 3,719,766 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Surgery Partners by 4.7% in the 4th quarter. Clearbridge Investments LLC now owns 5,525,671 shares of the company’s stock worth $176,766,000 after purchasing an additional 247,762 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Surgery Partners by 41.1% in the 2nd quarter. BlackRock Inc. now owns 5,372,530 shares of the company’s stock worth $241,710,000 after purchasing an additional 1,565,138 shares in the last quarter.

About Surgery Partners

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.