Surgery Partners (NASDAQ:SGRY) Sets New 12-Month Low – What’s Next?

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $14.94 and last traded at $14.9250, with a volume of 259880 shares trading hands. The stock had previously closed at $15.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SGRY shares. UBS Group dropped their price target on shares of Surgery Partners from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Mizuho reduced their price objective on Surgery Partners from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research note on Monday, December 29th. Royal Bank Of Canada reduced their target price on Surgery Partners from $35.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $36.00 price target on shares of Surgery Partners in a report on Tuesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Surgery Partners currently has a consensus rating of “Moderate Buy” and an average target price of $27.11.

Surgery Partners Stock Down 1.3%

The firm’s 50-day simple moving average is $16.04 and its 200 day simple moving average is $19.58. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.72 and a current ratio of 1.88. The company has a market cap of $1.95 billion, a P/E ratio of -11.10 and a beta of 1.91.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Monday, November 10th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). Surgery Partners had a positive return on equity of 2.41% and a negative net margin of 5.21%.The firm had revenue of $821.50 million for the quarter, compared to the consensus estimate of $823.55 million. During the same period in the previous year, the business earned $0.19 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, research analysts forecast that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SGRY. Pentwater Capital Management LP raised its holdings in shares of Surgery Partners by 66.9% during the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock worth $252,777,000 after acquiring an additional 4,681,000 shares during the period. Glenview Capital Management LLC acquired a new position in Surgery Partners during the 2nd quarter worth approximately $33,995,000. UBS Group AG lifted its position in shares of Surgery Partners by 50.6% in the third quarter. UBS Group AG now owns 3,690,922 shares of the company’s stock worth $79,872,000 after purchasing an additional 1,239,549 shares in the last quarter. King Street Capital Management L.P. boosted its holdings in Surgery Partners by 24.5% during the second quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company’s stock worth $138,382,000 after purchasing an additional 1,225,000 shares during the last quarter. Finally, Norges Bank bought a new stake in Surgery Partners during the 2nd quarter worth about $26,609,000.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.