Surgery Partners (NASDAQ:SGRY) Share Price Passes Above Fifty Day Moving Average – What’s Next?

Surgery Partners, Inc. (NASDAQ:SGRY) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $13.35 and traded as high as $13.82. Surgery Partners shares last traded at $13.77, with a volume of 1,842,068 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SGRY shares. UBS Group reissued a “buy” rating on shares of Surgery Partners in a report on Wednesday, March 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Surgery Partners in a report on Wednesday, May 6th. TD Cowen lowered their target price on Surgery Partners from $28.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Mizuho lowered their target price on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Finally, Zacks Research raised Surgery Partners from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Surgery Partners has a consensus rating of “Moderate Buy” and a consensus target price of $22.18.

Surgery Partners Stock Performance

The firm has a 50 day moving average of $13.35 and a 200-day moving average of $14.61. The stock has a market capitalization of $1.80 billion, a PE ratio of -22.95, a P/E/G ratio of 9.37 and a beta of 1.96. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.69 and a current ratio of 1.86.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.12. The firm had revenue of $810.90 million during the quarter, compared to the consensus estimate of $797.69 million. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. Research analysts forecast that Surgery Partners, Inc. will post 0.1 earnings per share for the current year.

Surgery Partners declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Surgery Partners news, CEO Jason Eric Evans sold 20,400 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $12.47, for a total value of $254,388.00. Following the transaction, the chief executive officer directly owned 920,386 shares of the company’s stock, valued at $11,477,213.42. This represents a 2.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David T. Doherty sold 14,574 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $13.84, for a total value of $201,704.16. Following the transaction, the chief financial officer directly owned 88,803 shares in the company, valued at approximately $1,229,033.52. This represents a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 96,896 shares of company stock worth $1,284,058. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp increased its holdings in shares of Surgery Partners by 313.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock valued at $27,000 after acquiring an additional 930 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Surgery Partners by 45,640.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock valued at $49,000 after purchasing an additional 2,282 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Surgery Partners by 128.4% during the third quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock valued at $58,000 after purchasing an additional 1,519 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Surgery Partners by 5,324.0% in the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock valued at $48,000 after acquiring an additional 3,993 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Surgery Partners in the third quarter valued at about $121,000.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.