Surgery Partners (NASDAQ:SGRY) Shares Gap Down - What's Next?

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $30.87, but opened at $30.25. Surgery Partners shares last traded at $29.30, with a volume of 92,837 shares.

Analysts Set New Price Targets

SGRY has been the topic of a number of research reports. Cantor Fitzgerald restated an "overweight" rating and set a $43.00 price objective on shares of Surgery Partners in a research report on Friday, October 4th. Macquarie initiated coverage on shares of Surgery Partners in a report on Friday, June 28th. They set an "outperform" rating and a $31.00 target price for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $49.00 target price on shares of Surgery Partners in a report on Wednesday, August 7th. UBS Group started coverage on shares of Surgery Partners in a research note on Monday, October 14th. They issued a "buy" rating and a $38.00 target price on the stock. Finally, KeyCorp started coverage on shares of Surgery Partners in a report on Friday, October 11th. They set a "sector weight" rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Surgery Partners presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.63.

Surgery Partners Price Performance

The company has a market cap of $3.75 billion, a P/E ratio of -108.51, a P/E/G ratio of 2.45 and a beta of 2.75. The company has a current ratio of 1.83, a quick ratio of 1.69 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $31.26 and a 200-day moving average of $28.05.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. Surgery Partners had a positive return on equity of 2.96% and a negative net margin of 1.17%. The firm had revenue of $762.10 million for the quarter, compared to analyst estimates of $735.94 million. During the same period in the previous year, the company posted $0.25 earnings per share. The business's revenue was up 14.2% on a year-over-year basis. On average, equities research analysts predict that Surgery Partners, Inc. will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Surgery Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smith Group Asset Management LLC grew its stake in Surgery Partners by 48.6% during the third quarter. Smith Group Asset Management LLC now owns 16,160 shares of the company's stock worth $521,000 after buying an additional 5,282 shares during the last quarter. E. Ohman J or Asset Management AB boosted its position in Surgery Partners by 31.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 886,088 shares of the company's stock valued at $28,567,000 after buying an additional 209,888 shares during the period. Creative Planning bought a new stake in shares of Surgery Partners in the third quarter worth approximately $258,000. Handelsbanken Fonder AB grew its stake in shares of Surgery Partners by 35.1% in the third quarter. Handelsbanken Fonder AB now owns 18,100 shares of the company's stock worth $584,000 after acquiring an additional 4,700 shares during the period. Finally, Clearbridge Investments LLC increased its position in Surgery Partners by 1.3% in the second quarter. Clearbridge Investments LLC now owns 5,585,530 shares of the company's stock worth $132,880,000 after purchasing an additional 73,007 shares during the last quarter.

Surgery Partners Company Profile

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.