Surgery Partners (NASDAQ:SGRY) Stock Price Down 5.4% – What’s Next?

by · The Cerbat Gem

Surgery Partners, Inc. (NASDAQ:SGRY – Get Free Report)’s share price fell 5.4% during mid-day trading on Wednesday . The company traded as low as $16.98 and last traded at $16.4780. 840,668 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,484,154 shares. The stock had previously closed at $17.41.

Analyst Ratings Changes

Several research firms recently commented on SGRY. Cantor Fitzgerald reiterated an “overweight” rating and set a $36.00 price objective on shares of Surgery Partners in a research note on Tuesday, October 7th. Royal Bank Of Canada reduced their price target on Surgery Partners from $35.00 to $31.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Benchmark lowered their price objective on Surgery Partners from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Mizuho dropped their target price on Surgery Partners from $28.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, November 17th. Finally, UBS Group decreased their price target on Surgery Partners from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Surgery Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.44.

Get Our Latest Stock Report on SGRY

Surgery Partners Stock Performance

The company has a quick ratio of 1.72, a current ratio of 1.88 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $2.16 billion, a PE ratio of -12.29 and a beta of 1.93. The firm has a 50 day moving average price of $19.14 and a 200-day moving average price of $21.18.

Surgery Partners (NASDAQ:SGRY – Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). Surgery Partners had a negative net margin of 5.21% and a positive return on equity of 2.41%. The business had revenue of $821.50 million for the quarter, compared to analyst estimates of $823.55 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. Research analysts expect that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds have recently bought and sold shares of the business. Natixis Advisors LLC purchased a new stake in shares of Surgery Partners in the first quarter valued at approximately $292,000. PNC Financial Services Group Inc. grew its stake 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 valued at $28,000 after acquiring an additional 542 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Surgery Partners by 6.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 890,816 shares of the company’s stock worth $21,157,000 after acquiring an additional 56,399 shares in the last quarter. Nuveen LLC acquired a new position in Surgery Partners during the first quarter worth $7,496,000. Finally, Russell Investments Group Ltd. lifted its holdings in Surgery Partners by 241.0% during the first quarter. Russell Investments Group Ltd. now owns 21,257 shares of the company’s stock valued at $505,000 after purchasing an additional 15,024 shares in the last quarter.

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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