Surgery Partners (NASDAQ:SGRY) Shares Cross Above 50-Day Moving Average – Here’s Why

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $31.24 and traded as high as $32.23. Surgery Partners shares last traded at $31.55, with a volume of 571,727 shares traded.

Wall Street Analyst Weigh In

SGRY has been the topic of a number of analyst reports. Macquarie initiated coverage on shares of Surgery Partners in a research report on Friday, June 28th. They issued an “outperform” rating and a $31.00 target price on the stock. KeyCorp initiated coverage on shares of Surgery Partners in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. UBS Group initiated coverage on shares of Surgery Partners in a research report on Monday, October 14th. They issued a “buy” rating and a $38.00 target price on the stock. StockNews.com cut shares of Surgery Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, Benchmark reiterated a “buy” rating and issued a $50.00 target price on shares of Surgery Partners in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.63.

Surgery Partners Stock Performance

The firm has a market cap of $4.01 billion, a P/E ratio of -116.85, a price-to-earnings-growth ratio of 2.57 and a beta of 2.75. The company has a current ratio of 1.83, a quick ratio of 1.69 and a debt-to-equity ratio of 0.96. The business’s fifty day simple moving average is $31.24 and its 200-day simple moving average is $28.03.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $762.10 million for the quarter, compared to analyst estimates of $735.94 million. Surgery Partners had a negative net margin of 1.17% and a positive return on equity of 2.96%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, sell-side analysts expect that Surgery Partners, Inc. will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

A number of large investors have recently modified their holdings of SGRY. Quarry LP boosted its stake in shares of Surgery Partners by 133.1% during the 2nd quarter. Quarry LP now owns 3,082 shares of the company’s stock valued at $73,000 after purchasing an additional 1,760 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Surgery Partners by 102.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock valued at $80,000 after purchasing an additional 1,375 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of Surgery Partners by 257.1% during the 1st quarter. EntryPoint Capital LLC now owns 6,399 shares of the company’s stock valued at $191,000 after purchasing an additional 4,607 shares in the last quarter. Creative Planning bought a new stake in shares of Surgery Partners during the 3rd quarter valued at about $258,000. Finally, Capstone Investment Advisors LLC boosted its stake in Surgery Partners by 38.7% during the first quarter. Capstone Investment Advisors LLC now owns 9,151 shares of the company’s stock worth $273,000 after acquiring an additional 2,551 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.