Surgery Partners (NASDAQ:SGRY) Sees Unusually-High Trading Volume – What’s Next?

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

Wall Street Analysts Forecast Growth

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

Surgery Partners Price 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 business has a 50 day moving average of $23.00 and a 200 day moving average of $27.36. The company has a market cap of $2.62 billion, a PE ratio of -42.98, a price-to-earnings-growth ratio of 17.40 and a beta of 2.58.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The company had revenue of $770.40 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. As a group, research analysts predict that Surgery Partners, Inc. will post 0.71 EPS for the current year.

Institutional Trading of Surgery Partners

A number of hedge funds have recently modified their holdings of SGRY. Deerfield Management Company L.P. Series C increased its stake in shares of Surgery Partners by 47.7% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock worth $111,986,000 after acquiring an additional 1,520,484 shares in the last quarter. King Street Capital Management L.P. bought a new position in shares of Surgery Partners during the third quarter valued at approximately $46,748,000. Point72 Asset Management L.P. bought a new stake in shares of Surgery Partners in the 2nd quarter worth approximately $29,288,000. Janus Henderson Group PLC grew its stake 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. Finally, Victory Capital Management Inc. increased its position in Surgery Partners by 140.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company’s stock valued at $42,892,000 after buying an additional 777,038 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.