Surgery Partners (NASDAQ:SGRY) Trading Down 3.7% - What's Next?

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) shares dropped 3.7% during mid-day trading on Tuesday . The company traded as low as $20.38 and last traded at $20.38. Approximately 41,930 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 758,644 shares. The stock had previously closed at $21.16.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SGRY. Bank of America began coverage on shares of Surgery Partners in a research note on Monday, December 16th. They issued a "buy" rating and a $30.00 price objective for the company. Macquarie reaffirmed an "outperform" rating and issued a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday, November 19th. KeyCorp began coverage on Surgery Partners in a research note on Friday, October 11th. They issued a "sector weight" rating on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $43.00 price target on shares of Surgery Partners in a report on Friday, October 4th. Finally, Royal Bank of Canada decreased their price objective on shares of Surgery Partners from $49.00 to $35.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.56.

Surgery Partners Trading Down 6.2 %

The stock has a 50-day moving average of $22.84 and a 200 day moving average of $27.34. 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 stock has a market cap of $2.52 billion, a PE ratio of -41.35, a price-to-earnings-growth ratio of 17.40 and a beta of 2.58.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). The business 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 firm's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS. As a group, sell-side analysts anticipate that Surgery Partners, Inc. will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in SGRY. Quarry LP grew its position in shares of Surgery Partners by 133.1% during the 2nd quarter. Quarry LP now owns 3,082 shares of the company's stock valued at $73,000 after acquiring an additional 1,760 shares during the period. KBC Group NV increased its position in shares of Surgery Partners by 31.8% in the third quarter. KBC Group NV now owns 2,385 shares of the company's stock valued at $77,000 after buying an additional 576 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Surgery Partners by 747.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company's stock worth $124,000 after buying an additional 3,379 shares during the period. Creative Planning purchased a new position in shares of Surgery Partners during the 3rd quarter valued at approximately $258,000. Finally, Versor Investments LP acquired a new stake in Surgery Partners in the 3rd quarter valued at $271,000.

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.