Surgery Partners (NASDAQ:SGRY) Reaches New 52-Week Low - Should You Sell?

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) hit 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 changing hands. The stock had previously closed at $21.03.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SGRY shares. KeyCorp began coverage on Surgery Partners in a research note on Friday, October 11th. They issued a "sector weight" rating on the stock. Bank of America initiated coverage on shares of Surgery Partners in a report on Monday. They set a "buy" rating and a $30.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $43.00 price target on shares of Surgery Partners in a report on Friday, October 4th. Macquarie reissued an "outperform" rating and set a $34.00 price objective on shares of Surgery Partners in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada dropped their target price on shares of Surgery Partners from $49.00 to $35.00 and set an "outperform" rating for the company in a research report on Wednesday, November 20th. One equities 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $36.56.

Surgery Partners Stock Performance

The business's fifty day moving average is $26.59 and its 200-day moving average is $27.89. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The company has a market cap of $2.53 billion, a PE ratio of -41.42, a P/E/G ratio of 17.40 and a beta of 2.58.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The business had revenue of $770.40 million for the quarter, compared to analysts' expectations of $768.99 million. During the same quarter in the prior year, the business earned $0.15 EPS. The company's revenue was up 14.3% compared to the same quarter last year. As a group, research analysts predict that Surgery Partners, Inc. will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quarry LP lifted its position in shares of Surgery Partners by 133.1% in the second quarter. Quarry LP now owns 3,082 shares of the company's stock valued at $73,000 after acquiring an additional 1,760 shares in the last quarter. KBC Group NV raised its stake in Surgery Partners by 31.8% during the 3rd quarter. KBC Group NV now owns 2,385 shares of the company's stock valued at $77,000 after purchasing an additional 576 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Surgery Partners by 747.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company's stock worth $124,000 after purchasing an additional 3,379 shares in the last quarter. Creative Planning bought a new position in Surgery Partners in the 3rd quarter worth approximately $258,000. Finally, Versor Investments LP purchased a new stake in Surgery Partners during the 3rd quarter valued at approximately $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.

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