Surgery Partners Inc. [NASDAQ: SGRY] traded at a high on 01/28/21, posting a 20.18 gain after which it closed the day’ session at $36.62. The company report on January 28, 2021 that Surgery Partners, Inc. Announces Pricing of $226.9 Million Public Offering of Common Stock.
Surgery Partners, Inc. (Nasdaq: SGRY) (“Surgery Partners”) announced the pricing of its previously announced underwritten public offering of 7,500,000 shares of its common stock at a public offering price of $30.25 per share. Gross proceeds to Surgery Partners from the offering are expected to be approximately $226.9 million, before deducting underwriting discounts and commissions and other offering expenses payable by Surgery Partners. In addition, Surgery Partners has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of its common stock, at the public offering price less underwriting discounts and commissions. All of the shares in the offering are being sold by Surgery Partners. The offering is expected to close on or about February 1, 2021, subject to customary closing conditions.
J.P. Morgan Securities LLC and Jefferies LLC are acting as lead bookrunning managers, and Barclays Capital Inc., KKR Capital Markets LLC, and Macquarie Capital (USA) Inc. are acting as joint bookrunning managers for the public offering.
The results of the trading session contributed to over 4718740 shares changing hands. Over the past one week, the price volatility of Surgery Partners Inc. stands at 11.46% while the volatility over the past one month is 7.64%.
The market cap for SGRY stock reached $1.88 billion, with 48.88 million shares outstanding and 22.85 million shares in the current float. Compared to the average trading volume of 336.72K shares, SGRY reached a trading volume of 4718740 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Surgery Partners Inc. [SGRY]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SGRY shares is $31.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SGRY stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Benchmark Company have made an estimate for Surgery Partners Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 17, 2020. The new note on the price target was released on April 27, 2020, representing the official price target for Surgery Partners Inc. stock. On January 14, 2020, analysts increased their price target for SGRY shares from 13 to 19.
The Average True Range (ATR) for Surgery Partners Inc. is set at 2.40, with the Price to Sales ratio for SGRY stock in the period of the last 12 months amounting to 1.03. The Price to Book ratio for the last quarter was 17.69, with the Price to Cash per share for the same quarter was set at 8.77. Price to Free Cash Flow for SGRY in the course of the last twelve months was 8.85 with Quick ratio for the last quarter at 1.40.
How has SGRY stock performed recently?
Surgery Partners Inc. [SGRY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.81. With this latest performance, SGRY shares gained by 30.74% in over the last four-week period, additionally plugging by 126.33% over the last 6 months – not to mention a rise of 105.15% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SGRY stock in for the last two-week period is set at 72.70, with the RSI for the last a single of trading hit 76.27, and the three-weeks RSI is set at 69.96 for Surgery Partners Inc. [SGRY]. The present Moving Average for the last 50 days of trading for this stock 28.15, while it was recorded at 31.67 for the last single week of trading, and 19.59 for the last 200 days.
Surgery Partners Inc. [SGRY]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Surgery Partners Inc. [SGRY] shares currently have an operating margin of +14.13 and a Gross Margin at +18.96. Surgery Partners Inc.’s Net Margin is presently recorded at -4.08.
Return on Total Capital for SGRY is now 5.83, given the latest momentum, and Return on Invested Capital for the company is -2.24. Return on Equity for this stock declined to -10.28, with Return on Assets sitting at -1.52. When it comes to the capital structure of this company, Surgery Partners Inc. [SGRY] has a Total Debt to Total Equity ratio set at 419.36. Additionally, SGRY Total Debt to Total Capital is recorded at 80.75, with Total Debt to Total Assets ending up at 56.42. Long-Term Debt to Equity for the company is recorded at 946.02, with the Long-Term Debt to Total Capital now at 78.15.
Reflecting on the efficiency of the workforce at the company, Surgery Partners Inc. [SGRY] managed to generate an average of -$10,841 per employee. Receivables Turnover for the company is 5.62 with a Total Asset Turnover recorded at a value of 0.37.Surgery Partners Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.50.
Earnings analysis for Surgery Partners Inc. [SGRY]
With the latest financial reports released by the company, Surgery Partners Inc. posted 0.1/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -16.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SGRY.
Insider trade positions for Surgery Partners Inc. [SGRY]
There are presently around $1,473 million, or 99.71% of SGRY stock, in the hands of institutional investors. The top three institutional holders of SGRY stocks are: BAIN CAPITAL INVESTORS LLC with ownership of 26,455,651, which is approximately 0% of the company’s market cap and around 1.00% of the total institutional ownership; CLEARBRIDGE INVESTMENTS, LLC, holding 3,691,506 shares of the stock with an approximate value of $112.48 million in SGRY stocks shares; and KING STREET CAPITAL MANAGEMENT, L.P., currently with $57.24 million in SGRY stock with ownership of nearly -1.555% of the company’s market capitalization.
Positions in Surgery Partners Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 54 institutional holders increased their position in Surgery Partners Inc. [NASDAQ:SGRY] by around 2,895,144 shares. Additionally, 54 investors decreased positions by around 3,473,298 shares, while 13 investors held positions by with 41,977,807 shares. The mentioned changes placed institutional holdings at 48,346,249 shares, according to the latest SEC report filing. SGRY stock had 22 new institutional investments in for a total of 2,046,955 shares, while 19 institutional investors sold positions of 1,702,288 shares during the same period.