Stock Traders Buy High Volume of Put Options on Surgery Partners (NASDAQ:SGRY)

by · The Cerbat Gem

Surgery Partners, Inc. (NASDAQ:SGRY – Get Free Report) saw some unusual options trading on Friday. Investors acquired 6,122 put options on the company. This is an increase of 498% compared to the typical daily volume of 1,024 put options.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SGRY. UBS Group cut their price objective on shares of Surgery Partners from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank Of Canada lowered their price target on shares of Surgery Partners from $35.00 to $31.00 and set an “outperform” rating for the company in a research note on Tuesday. Bank of America began coverage on shares of Surgery Partners in a research report on Monday, July 28th. They set a “buy” rating and a $28.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $36.00 price objective on shares of Surgery Partners in a report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. assumed coverage on Surgery Partners in a research note on Thursday, September 18th. They issued a “neutral” rating and a $27.00 target price for the company. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.75.

Check Out Our Latest Research Report on SGRY

Surgery Partners Price Performance

Shares of NASDAQ:SGRY remained flat at $15.31 during midday trading on Friday. 930,521 shares of the stock traded hands, compared to its average volume of 1,455,760. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78. The stock’s 50 day simple moving average is $21.08 and its 200 day simple moving average is $22.01. The stock has a market cap of $1.96 billion, a PE ratio of -10.73 and a beta of 1.85. Surgery Partners has a 52-week low of $15.12 and a 52-week high of $26.16.

Surgery Partners (NASDAQ:SGRY – Get Free Report) last posted its earnings results on Monday, November 10th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business had revenue of $821.50 million during the quarter, compared to the consensus estimate of $823.55 million. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. Surgery Partners has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Surgery Partners will post 0.67 earnings per share for the current year.

Insiders Place Their Bets

In other Surgery Partners news, insider Harrison R. Bane sold 9,339 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $22.48, for a total value of $209,940.72. Following the completion of the sale, the insider owned 117,181 shares of the company’s stock, valued at $2,634,228.88. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Surgery Partners

Several hedge funds have recently made changes to their positions in SGRY. AlphaQuest LLC lifted its stake in Surgery Partners by 112.0% in the first quarter. AlphaQuest LLC now owns 1,058 shares of the company’s stock worth $25,000 after acquiring an additional 559 shares during the period. Jones Financial Companies Lllp raised its holdings in Surgery Partners by 313.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after purchasing an additional 930 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Surgery Partners by 86.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company’s stock worth $28,000 after purchasing an additional 542 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Surgery Partners in the 1st quarter worth about $31,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Surgery Partners during the 2nd quarter valued at about $115,000.

About Surgery Partners

(Get Free Report)

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.

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