Surgery Partners (NASDAQ:SGRY) Stock Price Down 3.9%

Surgery Partners, Inc. (NASDAQ:SGRY) shares dropped 3.9% during trading on Thursday . The stock traded as low as $23.28 and last traded at $23.52. Approximately 278,122 shares changed hands 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.

Analysts Set New Price Targets

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

Surgery Partners Trading Down 4.0 %

The stock has a market capitalization of $2.98 billion, a P/E ratio of -237.00, a price-to-earnings-growth ratio of 2.26 and a beta of 2.71. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.57 and a current ratio of 1.71. The business has a 50 day simple moving average of $29.81 and a 200-day simple moving average of $29.91.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Monday, February 26th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. The business had revenue of $735.40 million during the quarter, compared to analyst estimates 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 period last year, the company posted $0.22 EPS. On average, analysts predict that Surgery Partners, Inc. will post 0.78 EPS for the current year.

Insider Transactions at Surgery Partners

In other news, CEO Jason Eric Evans sold 5,780 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $14,702,659.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jason Eric Evans sold 5,780 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $35.08, for a total value of $202,762.40. Following the completion of the sale, the chief executive officer now owns 419,118 shares in the company, valued at $14,702,659.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David T. Doherty sold 1,020 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $34.93, for a total value of $35,628.60. Following the completion of the sale, the chief financial officer now owns 74,209 shares of the company’s stock, valued at approximately $2,592,120.37. The disclosure for this sale can be found here. Insiders sold a total of 18,774 shares of company stock valued at $608,352 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Surgery Partners

A number of hedge funds have recently modified their holdings of SGRY. Lazard Asset Management LLC purchased a new stake in shares of Surgery Partners in the second quarter valued at $27,000. PNC Financial Services Group Inc. raised its holdings in shares of Surgery Partners by 85.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,033 shares of the company’s stock worth $29,000 after acquiring an additional 476 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Surgery Partners during the third quarter worth $39,000. Comerica Bank purchased a new stake in shares of Surgery Partners during the third quarter worth $41,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Surgery Partners by 187.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,229 shares of the company’s stock worth $42,000 after acquiring an additional 801 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.