Surgery Partners (NASDAQ:SGRY) Trading Down 6.7% – Here’s Why

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price was down 6.7% on Tuesday . The stock traded as low as $15.15 and last traded at $14.9150. 121,441 shares were traded during trading, a decline of 92% from the average daily volume of 1,503,485 shares. The stock had previously closed at $15.98.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Surgery Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Jefferies Financial Group restated a “buy” rating and issued a $17.00 target price on shares of Surgery Partners in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.18.

Surgery Partners Trading Down 7.2%

The firm has a market capitalization of $1.94 billion, a PE ratio of -24.72, a price-to-earnings-growth ratio of 4.90 and a beta of 1.89. The company has a fifty day moving average of $14.74 and a 200-day moving average of $14.43. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.86 and a quick ratio of 1.69.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.12. Surgery Partners had a negative net margin of 2.28% and a positive return on equity of 1.04%. The firm had revenue of $810.90 million for the quarter, compared to analyst estimates of $797.69 million. During the same quarter last year, the firm earned $0.04 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that Surgery Partners, Inc. will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Surgery Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its position in Surgery Partners by 3.8% during the fourth quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company’s stock worth $209,162,000 after acquiring an additional 501,401 shares during the period. Pentwater Capital Management LP increased its stake in Surgery Partners by 66.9% in the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock valued at $252,777,000 after acquiring an additional 4,681,000 shares during the period. UBS Group AG raised its position in Surgery Partners by 111.4% in the fourth quarter. UBS Group AG now owns 7,803,974 shares of the company’s stock worth $120,571,000 after purchasing an additional 4,113,052 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Surgery Partners by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company’s stock worth $63,131,000 after purchasing an additional 389,831 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Surgery Partners by 528.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,959,686 shares of the company’s stock valued at $30,277,000 after acquiring an additional 1,647,714 shares during the period.

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.