Surgery Partners Sees Unusually High Options Volume (NASDAQ:SGRY)

Surgery Partners, Inc. (NASDAQ:SGRY) was the target of unusually large options trading activity on Thursday. Traders acquired 2,271 call options on the stock. This is an increase of approximately 172% compared to the typical volume of 834 call options.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SGRY shares. Zacks Research raised shares of Surgery Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. TD Cowen cut their price target on shares of Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, March 5th. UBS Group reissued a “buy” rating on shares of Surgery Partners in a research note on Wednesday, March 11th. Jefferies Financial Group restated a “buy” rating and set a $17.00 price objective on shares of Surgery Partners in a research report on Wednesday, May 6th. Finally, Mizuho reduced 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. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.18.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SGRY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Surgery Partners by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock valued at $1,085,000 after acquiring an additional 2,015 shares during the last quarter. Millennium Management LLC grew its position in Surgery Partners by 1,253.7% during the 1st quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock worth $4,804,000 after acquiring an additional 219,806 shares during the last quarter. Empowered Funds LLC increased its holdings in Surgery Partners by 11.0% in the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock worth $305,000 after purchasing an additional 1,278 shares in the last quarter. Prudential Financial Inc. bought a new position in Surgery Partners in the second quarter valued at about $219,000. Finally, Invesco Ltd. raised its position in Surgery Partners by 7.4% in the second quarter. Invesco Ltd. now owns 1,683,311 shares of the company’s stock valued at $37,420,000 after purchasing an additional 115,627 shares during the last quarter.

Surgery Partners Stock Up 3.8%

SGRY stock opened at $17.23 on Friday. The stock has a market capitalization of $2.25 billion, a P/E ratio of -28.72, a price-to-earnings-growth ratio of 4.96 and a beta of 1.89. The company has a current ratio of 1.86, a quick ratio of 1.69 and a debt-to-equity ratio of 1.17. Surgery Partners has a 12 month low of $11.41 and a 12 month high of $24.10. The firm has a 50-day moving average price of $14.40 and a 200-day moving average price of $14.38.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.12. The company had revenue of $810.90 million for the quarter, compared to analyst estimates of $797.69 million. Surgery Partners had a negative net margin of 2.28% and a positive return on equity of 1.04%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 EPS. As a group, equities research analysts anticipate that Surgery Partners will post 0.25 EPS for the current fiscal year.

About Surgery Partners

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.