Surgery Partners (NASDAQ:SGRY) Stock Passes Below Fifty Day Moving Average of $31.18

Surgery Partners, Inc. (NASDAQ:SGRY) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $31.18 and traded as low as $29.61. Surgery Partners shares last traded at $29.83, with a volume of 743,946 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com raised shares of Surgery Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Royal Bank of Canada reissued an “outperform” rating and set a $49.00 target price on shares of Surgery Partners in a research note on Thursday, February 29th. TheStreet raised shares of Surgery Partners from a “d+” rating to a “c-” rating in a research note on Friday, December 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $43.00 target price on shares of Surgery Partners in a research note on Tuesday, March 5th. Finally, Barclays assumed coverage on shares of Surgery Partners in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.63.

Surgery Partners Price Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.71 and a quick ratio of 1.57. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -298.30 and a beta of 2.72. The business’s fifty day simple moving average is $31.18 and its 200 day simple moving average is $30.28.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating 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 was up 4.0% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. On average, research analysts forecast that Surgery Partners, Inc. will post 0.82 EPS for the current year.

Insider Activity

In other news, CEO Jason Eric Evans sold 5,780 shares of Surgery Partners stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $35.08, for a total transaction of $202,762.40. Following the completion of the transaction, the chief executive officer now directly owns 419,118 shares in the company, valued at $14,702,659.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Surgery Partners news, insider Marissa Brittenham sold 1,637 shares of Surgery Partners stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $31.89, for a total value of $52,203.93. Following the sale, the insider now owns 30,469 shares of the company’s stock, valued at $971,656.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jason Eric Evans sold 5,780 shares of Surgery Partners stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $35.08, for a total transaction of $202,762.40. Following the completion of the sale, the chief executive officer now directly owns 419,118 shares in the company, valued at approximately $14,702,659.44. The disclosure for this sale can be found here. Insiders sold 18,774 shares of company stock worth $608,352 over the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Surgery Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its position in shares of Surgery Partners by 23.2% in the third quarter. Wellington Management Group LLP now owns 8,022,700 shares of the company’s stock valued at $234,664,000 after purchasing an additional 1,511,396 shares during the period. Pinebridge Investments L.P. purchased a new position in Surgery Partners during the second quarter valued at approximately $38,000. Quantbot Technologies LP purchased a new position in Surgery Partners during the third quarter valued at approximately $1,168,000. Invesco Ltd. grew its stake in Surgery Partners by 9.3% during the third quarter. Invesco Ltd. now owns 3,604,357 shares of the company’s stock valued at $105,427,000 after acquiring an additional 305,216 shares in the last quarter. Finally, Barclays PLC grew its stake in Surgery Partners by 204.9% in the 3rd quarter. Barclays PLC now owns 289,663 shares of the company’s stock worth $8,472,000 after buying an additional 194,658 shares in the last quarter.

Surgery Partners Company Profile

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.