Surgery Partners (NASDAQ:SGRY) Trading Down 3.7% – Here’s Why

Surgery Partners, Inc. (NASDAQ:SGRY) dropped 3.7% during mid-day trading on Tuesday . The stock traded as low as $20.38 and last traded at $20.38. Approximately 41,930 shares changed hands 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.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. KeyCorp started coverage on shares of Surgery Partners in a report on Friday, October 11th. They set a “sector weight” rating on the stock. UBS Group began coverage on Surgery Partners in a research note on Monday, October 14th. They issued a “buy” rating and a $38.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $43.00 price target on shares of Surgery Partners in a research note on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, December 3rd. Finally, Macquarie reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Surgery Partners in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.56.

Surgery Partners Stock Down 1.1 %

The stock has a fifty day simple moving average of $22.46 and a two-hundred day simple moving average of $27.26. The firm has a market cap of $2.54 billion, a PE ratio of -41.67, a price-to-earnings-growth ratio of 14.31 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 issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The firm had revenue of $770.40 million for the quarter, compared to analysts’ expectations of $768.99 million. During the same period in the prior year, the firm posted $0.15 EPS. Surgery Partners’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Surgery Partners, Inc. will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SGRY. Harbor Capital Advisors Inc. grew its position in Surgery Partners by 25.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 67,443 shares of the company’s stock worth $1,428,000 after buying an additional 13,588 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Surgery Partners by 3.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 189,436 shares of the company’s stock valued at $6,107,000 after acquiring an additional 5,551 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Surgery Partners during the third quarter worth about $1,469,000. Franklin Resources Inc. increased its position in shares of Surgery Partners by 19.5% in the third quarter. Franklin Resources Inc. now owns 21,324 shares of the company’s stock worth $677,000 after purchasing an additional 3,487 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Surgery Partners in the third quarter worth approximately $626,000.

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.