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

Surgery Partners, Inc. (NASDAQ:SGRY) shares saw strong trading volume on Monday . 737,102 shares changed hands during mid-day 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.

Wall Street Analyst Weigh In

SGRY has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. KeyCorp initiated coverage on shares of Surgery Partners in a research report on Friday, October 11th. They set a “sector weight” rating for the company. Macquarie reiterated an “outperform” rating and set a $34.00 target price on shares of Surgery Partners in a research report on Tuesday, November 19th. Royal Bank of Canada reduced their price target on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Finally, UBS Group assumed coverage on shares of Surgery Partners in a report on Monday, October 14th. They set a “buy” rating and a $38.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.56.

Surgery Partners Stock Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. The company’s fifty day moving average price is $23.00 and its 200 day moving average price is $27.36. The company has a market cap of $2.62 billion, a PE ratio of -42.98, a P/E/G ratio of 17.40 and a beta of 2.58.

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

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP raised its position in Surgery Partners by 133.1% in the second quarter. Quarry LP now owns 3,082 shares of the company’s stock worth $73,000 after acquiring an additional 1,760 shares during the period. KBC Group NV increased its holdings in shares of Surgery Partners by 31.8% in the third quarter. KBC Group NV now owns 2,385 shares of the company’s stock worth $77,000 after purchasing an additional 576 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Surgery Partners by 747.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock worth $124,000 after buying an additional 3,379 shares in the last quarter. Creative Planning bought a new stake in Surgery Partners during the third quarter valued at $258,000. Finally, Versor Investments LP purchased a new position in Surgery Partners during the third quarter worth about $271,000.

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.