Surgery Partners (NASDAQ:SGRY) Sets New 52-Week Low – Here’s What Happened

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) hit a new 52-week low during trading on Monday . The stock traded as low as $13.39 and last traded at $13.24, with a volume of 9685 shares changing hands. The stock had previously closed at $13.56.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SGRY. Benchmark dropped their price target on shares of Surgery Partners from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Royal Bank Of Canada decreased their price target on Surgery Partners from $35.00 to $31.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. UBS Group dropped their price objective on Surgery Partners from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. JPMorgan Chase & Co. dropped their price target on Surgery Partners from $27.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Finally, Mizuho reduced their price objective on shares of Surgery Partners from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.11.

Surgery Partners Trading Up 0.0%

The company has a debt-to-equity ratio of 1.10, a current ratio of 1.88 and a quick ratio of 1.72. The firm has a fifty day simple moving average of $15.70 and a 200-day simple moving average of $19.13. The firm has a market cap of $1.75 billion, a P/E ratio of -9.99 and a beta of 1.97.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Monday, November 10th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $823.55 million. During the same period in the previous year, the company earned $0.19 earnings per share. Surgery Partners’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in Surgery Partners by 313.1% during the third quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after acquiring an additional 930 shares during the period. AlphaQuest LLC increased its position in shares of Surgery Partners by 94.4% during the 2nd quarter. AlphaQuest LLC now owns 2,057 shares of the company’s stock valued at $46,000 after purchasing an additional 999 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Surgery Partners by 45,640.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after purchasing an additional 2,282 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Surgery Partners by 128.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock worth $58,000 after buying an additional 1,519 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Surgery Partners during the second quarter valued at about $115,000.

Surgery Partners Company Profile

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.