Surgery Partners, Inc. (SGRY) Shares Up 7.8%

Surgery Partners, Inc. (NASDAQ:SGRY) shot up 7.8% during mid-day trading on Tuesday . The company traded as high as $8.30 and last traded at $8.25. 708,852 shares changed hands during trading, an increase of 116% from the average session volume of 328,334 shares. The stock had previously closed at $7.65.

A number of brokerages have issued reports on SGRY. Royal Bank Of Canada reaffirmed a “buy” rating and set a $18.00 price objective on shares of Surgery Partners in a report on Sunday, November 12th. ValuEngine lowered shares of Surgery Partners from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Zacks Investment Research lowered shares of Surgery Partners from a “hold” rating to a “strong sell” rating in a report on Saturday, November 4th. Jefferies Group LLC cut their price objective on shares of Surgery Partners from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Surgery Partners in a report on Tuesday, October 31st. Four analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $18.57.

The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.92 and a current ratio of 2.09. The company has a market capitalization of $402.35 and a price-to-earnings ratio of 55.67.

In related news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $19.00, for a total value of $502,657,369.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of SGRY. Citadel Advisors LLC purchased a new position in shares of Surgery Partners in the third quarter valued at $129,000. Round Table Services LLC purchased a new position in Surgery Partners during the third quarter worth $138,000. Sterling Capital Management LLC purchased a new position in Surgery Partners during the third quarter worth $210,000. Voya Investment Management LLC purchased a new position in Surgery Partners during the second quarter worth $222,000. Finally, American International Group Inc. boosted its stake in Surgery Partners by 7.1% during the first quarter. American International Group Inc. now owns 11,462 shares of the company’s stock worth $224,000 after buying an additional 759 shares during the period. 39.73% of the stock is owned by hedge funds and other institutional investors.

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Surgery Partners Company Profile

Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.

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