Surgery Partners Inc. (NASDAQ: SGRY) stock fell -5.05% on Tuesday to $36.27 against a previous-day closing price of $38.20. With 0.66 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.62 million shares. During the session, the Medical Care Facilities company that operates in wider Healthcare sector, reached to the highest price of $38.54 whereas the lowest price it dropped to was $36.23. The 52-week range on SGRY shows that it touched its highest point at $41.80 and its lowest point at $20.46 during that stretch. It currently has a 1-year price target of $48.40. Beta for the stock currently stands at 2.76.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SGRY was up-trending over the past week, with a rise of 1.63%, but this was down by -8.85% over a month. Three-month performance surged to 5.47% while six-month performance rose 32.91%. The stock lost -8.64% in the past year, while it has gained 30.19% so far this year. A look at the trailing 12-month EPS for SGRY yields -0.92 with Next year EPS estimates of 0.83. For the next quarter, that number is 0.08. This implies an EPS growth rate of 47.00% for this year and 30.50% for next year.
Float and Shares Shorts:
At present, 125.21 million SGRY shares are outstanding with a float of 53.58 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.69 million, which was 3.71% higher than short shares on Mar 30, 2023. In addition to Mr. Wayne Scott DeVeydt as the firm’s Exec. Chairman, Mr. J. Eric Evans serves as its CEO & Director.
Institutional Ownership:
Through their ownership of 102.26% of SGRY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 91.86% of SGRY, in contrast to 40.48% held by mutual funds. Shares owned by individuals account for 21.33%. As the largest shareholder in SGRY with 14.57% of the stake, Fidelity Management & Research Co holds 17,038,214 shares worth 17,038,214. A second-largest stockholder of SGRY, Wellington Management Co. LLP, holds 6,946,272 shares, controlling over 5.94% of the firm’s shares. Durable Capital Partners LP is the third largest shareholder in SGRY, holding 5,853,995 shares or 5.01% stake. With a 3.22% stake in SGRY, the Fidelity Select Port. – Health Ca is the largest stakeholder. A total of 3,769,636 shares are owned by the mutual fund manager. The ClearBridge Small Cap Growth Fund, which owns about 2.66% of SGRY stock, is the second-largest Mutual Fund holder. It holds 3,104,975 shares valued at 123.14 million. Fidelity Balanced Fund holds 2.54% of the stake in SGRY, owning 2,965,755 shares worth 117.62 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, SGRY reported revenue of $615.40M and operating income of $83.20M. The EBITDA in the recently reported quarter was $113.80M and diluted EPS was -$0.21.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SGRY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SGRY analysts setting a high price target of $65.00 and a low target of $39.00, the average target price over the next 12 months is $47.82. Based on these targets, SGRY could surge 79.21% to reach the target high and rise by 7.53% to reach the target low. Reaching the average price target will result in a growth of 31.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded SGRY stock several times over the past three months with 14 Buys and 25 Sells. In these transactions, 276,661 shares were bought while 111,327 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 40 over the past year. The total number of shares bought during that period was 27,858,420 while 146,546 shares were sold.
