Surgery Partners (NASDAQ:SGRY) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) saw unusually-strong trading volume on Monday . Approximately 737,102 shares traded hands during trading, an increase of 7% from the previous session’s volume of 685,897 shares.The stock last traded at $20.53 and had previously closed at $20.65.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group started coverage on Surgery Partners in a research report on Monday, October 14th. They issued a “buy” rating and a $38.00 target price for the company. Royal Bank of Canada decreased their price objective on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Bank of America initiated coverage on shares of Surgery Partners in a report on Monday, December 16th. They set a “buy” rating and a $30.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, December 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $43.00 price target on shares of Surgery Partners in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.56.

Surgery Partners Stock Down 6.2 %

The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The firm has a market cap of $2.52 billion, a P/E ratio of -41.35, a price-to-earnings-growth ratio of 17.40 and a beta of 2.58. The stock’s fifty day moving average is $22.64 and its two-hundred day moving average is $27.31.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The firm had revenue of $770.40 million for the quarter, compared to analysts’ expectations of $768.99 million. During the same quarter last year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts anticipate that Surgery Partners, Inc. will post 0.71 earnings per share for the current year.

Institutional Trading of Surgery Partners

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its position in shares of Surgery Partners by 3.1% in the third quarter. FMR LLC now owns 18,311,867 shares of the company’s stock worth $590,375,000 after purchasing an additional 546,869 shares during the last quarter. Clearbridge Investments LLC grew its stake in Surgery Partners by 1.3% in the 2nd quarter. Clearbridge Investments LLC now owns 5,585,530 shares of the company’s stock worth $132,880,000 after buying an additional 73,007 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Surgery Partners by 27.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company’s stock worth $177,235,000 after buying an additional 1,184,450 shares during the last quarter. Deerfield Management Company L.P. Series C raised its position in shares of Surgery Partners by 47.7% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock valued at $111,986,000 after buying an additional 1,520,484 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Surgery Partners by 26.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock worth $66,643,000 after acquiring an additional 589,499 shares during 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.