Surgery Partners (NASDAQ:SGRY) Sets New 1-Year Low – Here’s What Happened

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $19.83 and last traded at $20.05, with a volume of 902763 shares. The stock had previously closed at $21.03.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Surgery Partners in a research report on Monday. They issued a “buy” rating and a $30.00 target price for the company. Macquarie restated an “outperform” rating and set a $34.00 target price on shares of Surgery Partners in a research note on Tuesday, November 19th. UBS Group assumed coverage on Surgery Partners in a research note on Monday, October 14th. They issued a “buy” rating and a $38.00 price target on the stock. Benchmark reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Surgery Partners in a research note on Monday, August 26th. Finally, Royal Bank of Canada lowered their target price on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.56.

Surgery Partners Trading Up 8.2 %

The firm’s 50-day moving average price is $26.18 and its 200 day moving average price is $27.78. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -44.21, a P/E/G ratio of 17.40 and a beta of 2.58. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The company had revenue of $770.40 million during the quarter, compared to analyst estimates of $768.99 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. As a group, equities analysts expect that Surgery Partners, Inc. will post 0.71 EPS for the current year.

Institutional Investors Weigh In On Surgery Partners

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP raised its position in shares of Surgery Partners by 133.1% during the second quarter. Quarry LP now owns 3,082 shares of the company’s stock worth $73,000 after purchasing an additional 1,760 shares during the period. KBC Group NV raised its holdings in Surgery Partners by 31.8% during the third quarter. KBC Group NV now owns 2,385 shares of the company’s stock worth $77,000 after buying an additional 576 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Surgery Partners by 747.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock valued at $124,000 after buying an additional 3,379 shares in the last quarter. Creative Planning acquired a new position in shares of Surgery Partners during the third quarter valued at about $258,000. Finally, Versor Investments LP acquired a new position in shares of Surgery Partners during the third quarter valued at about $271,000.

About Surgery Partners

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.