Could Surgery Partners, Inc. (SGRY) Change Direction After This Bullish Wedge Up

March 21, 2018 - By Hazel Jackson

The stock of Surgery Partners, Inc. (SGRY) formed an up wedge with $18.20 target or 9.00 % above today’s $16.70 share price. The 8 months wedge indicates low risk for the $811.81M company. If the $18.20 price target is reached, the company will be worth $73.06M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 3.41% or $0.55 during the last trading session, reaching $16.7. About 45,804 shares traded. Surgery Partners, Inc. (NASDAQ:SGRY) has risen 53.68% since March 21, 2017 and is uptrending. It has outperformed by 36.98% the S&P500.

Analysts await Surgery Partners, Inc. (NASDAQ:SGRY) to report earnings on May, 8. They expect $-0.22 EPS, down 650.00 % or $0.26 from last year’s $0.04 per share. After $-0.03 actual EPS reported by Surgery Partners, Inc. for the previous quarter, Wall Street now forecasts 633.33 % negative EPS growth.

Surgery Partners, Inc. (NASDAQ:SGRY) Ratings Coverage

Among 10 analysts covering Surgery Partners (NASDAQ:SGRY), 4 have Buy rating, 1 Sell and 5 Hold. Therefore 40% are positive. Surgery Partners has $2700 highest and $13 lowest target. $18.29’s average target is 9.52% above currents $16.7 stock price. Surgery Partners had 29 analyst reports since October 26, 2015 according to SRatingsIntel. The company was downgraded on Wednesday, November 1 by Bank of America. The firm has “Hold” rating given on Tuesday, October 31 by KeyBanc Capital Markets. The rating was initiated by Benchmark with “Buy” on Tuesday, January 31. Citigroup maintained the stock with “Buy” rating in Monday, March 14 report. Stifel Nicolaus downgraded the stock to “Sell” rating in Wednesday, August 9 report. The firm earned “Buy” rating on Monday, November 13 by Citigroup. On Wednesday, November 1 the stock rating was maintained by Jefferies with “Buy”. The stock of Surgery Partners, Inc. (NASDAQ:SGRY) earned “Strong Buy” rating by Raymond James on Monday, October 26. The stock has “Buy” rating by RBC Capital Markets on Friday, November 10. As per Monday, June 12, the company rating was maintained by RBC Capital Markets.

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