Surgery Partners (NASDAQ:SGRY) Hits New 52-Week Low – Here’s Why

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $21.02 and last traded at $21.03, with a volume of 456980 shares changing hands. The stock had previously closed at $21.55.

Analysts Set New Price Targets

SGRY has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price objective on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. KeyCorp began coverage on shares of Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. UBS Group initiated coverage on shares of Surgery Partners in a report on Monday, October 14th. They set a “buy” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, December 3rd. Finally, Benchmark reiterated a “buy” rating and set a $50.00 target price on shares of Surgery Partners in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.38.

Surgery Partners Stock Down 2.6 %

The company’s 50 day moving average price is $27.58 and its two-hundred day moving average price is $28.09. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The firm has a market cap of $2.67 billion, a PE ratio of -43.75, a PEG ratio of 18.22 and a beta of 2.58.

Surgery Partners (NASDAQ:SGRY) last announced its 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). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The company had revenue of $770.40 million during the quarter, compared to the consensus estimate of $768.99 million. During the same period in the prior year, the business posted $0.15 earnings per share. Surgery Partners’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts expect that Surgery Partners, Inc. will post 0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in Surgery Partners by 190.0% in the 2nd quarter. SG Americas Securities LLC now owns 17,276 shares of the company’s stock worth $411,000 after purchasing an additional 11,318 shares during the period. Raymond James & Associates lifted its holdings in shares of Surgery Partners by 6.8% in the second quarter. Raymond James & Associates now owns 68,872 shares of the company’s stock worth $1,638,000 after buying an additional 4,370 shares in the last quarter. MeadowBrook Investment Advisors LLC boosted its position in shares of Surgery Partners by 15.9% during the second quarter. MeadowBrook Investment Advisors LLC now owns 12,320 shares of the company’s stock worth $293,000 after acquiring an additional 1,690 shares during the last quarter. Tranquility Partners LLC boosted its position in shares of Surgery Partners by 7.3% during the second quarter. Tranquility Partners LLC now owns 61,892 shares of the company’s stock worth $1,472,000 after acquiring an additional 4,192 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Surgery Partners by 12.4% during the second quarter. Bank of New York Mellon Corp now owns 347,485 shares of the company’s stock valued at $8,267,000 after acquiring an additional 38,285 shares in 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.