Surgery Partners (NASDAQ:SGRY) Trading Down 3.9%

Surgery Partners, Inc. (NASDAQ:SGRY) shares dropped 3.9% during mid-day trading on Thursday . The company traded as low as $23.28 and last traded at $23.52. Approximately 278,122 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 872,084 shares. The stock had previously closed at $24.47.

Analyst Upgrades and Downgrades

SGRY has been the subject of a number of research reports. Citigroup decreased their price objective on Surgery Partners from $43.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $49.00 price objective on shares of Surgery Partners in a report on Thursday, February 29th. StockNews.com raised Surgery Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Barclays assumed coverage on Surgery Partners in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $35.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.63.

Surgery Partners Stock Performance

The firm has a 50 day moving average price of $29.62 and a 200 day moving average price of $29.87. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.71 and a quick ratio of 1.57.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The business had revenue of $735.40 million for the quarter, compared to the consensus estimate of $741.93 million. Surgery Partners had a positive return on equity of 3.65% and a negative net margin of 0.43%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. On average, equities analysts predict that Surgery Partners, Inc. will post 0.78 EPS for the current fiscal year.

Insider Transactions at Surgery Partners

In other news, CEO Jason Eric Evans sold 1,984 shares of Surgery Partners stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $29.44, for a total value of $58,408.96. Following the completion of the transaction, the chief executive officer now owns 464,510 shares in the company, valued at approximately $13,675,174.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jason Eric Evans sold 1,984 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $29.44, for a total transaction of $58,408.96. Following the completion of the transaction, the chief executive officer now owns 464,510 shares in the company, valued at approximately $13,675,174.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bradley R. Owens sold 1,040 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $35.22, for a total value of $36,628.80. Following the transaction, the insider now owns 73,149 shares of the company’s stock, valued at approximately $2,576,307.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,774 shares of company stock worth $608,352. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Surgery Partners

A number of large investors have recently bought and sold shares of SGRY. Durable Capital Partners LP boosted its holdings in Surgery Partners by 174.3% during the 4th quarter. Durable Capital Partners LP now owns 5,853,995 shares of the company’s stock valued at $163,092,000 after acquiring an additional 3,719,766 shares during the period. Point72 Asset Management L.P. raised its position in Surgery Partners by 268.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,193,423 shares of the company’s stock valued at $61,109,000 after purchasing an additional 1,598,658 shares in the last quarter. BlackRock Inc. raised its position in Surgery Partners by 41.1% during the 2nd quarter. BlackRock Inc. now owns 5,372,530 shares of the company’s stock valued at $241,710,000 after purchasing an additional 1,565,138 shares in the last quarter. Wellington Management Group LLP raised its position in Surgery Partners by 23.2% during the 3rd 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 in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new stake in Surgery Partners during the 3rd quarter valued at $42,705,000.

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.