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 $21.02 and last traded at $21.03, with a volume of 456980 shares. The stock had previously closed at $21.55.

Analysts Set New Price Targets

A number of research firms recently commented on SGRY. Royal Bank of Canada reduced their price objective on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. UBS Group assumed coverage on shares of Surgery Partners in a research report on Monday, October 14th. They set a “buy” rating and a $38.00 price target for the company. KeyCorp began coverage on shares of Surgery Partners in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $43.00 target price on shares of Surgery Partners in a report on Friday, October 4th. Finally, Benchmark reiterated a “buy” rating and set a $50.00 price target on shares of Surgery Partners in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Surgery Partners presently has an average rating of “Moderate Buy” and a consensus target price of $37.38.

Surgery Partners Trading Up 0.5 %

The stock’s 50-day simple moving average is $26.93 and its two-hundred day simple moving average is $27.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. The firm has a market capitalization of $2.59 billion, a P/E ratio of -42.42, a price-to-earnings-growth ratio of 17.95 and a beta of 2.58.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share (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 business had revenue of $770.40 million during the quarter, compared to analysts’ expectations of $768.99 million. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. Equities research analysts expect that Surgery Partners, Inc. will post 0.71 EPS for the current year.

Institutional Trading of Surgery Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGRY. FMR LLC grew its holdings in Surgery Partners by 3.1% during the 3rd quarter. FMR LLC now owns 18,311,867 shares of the company’s stock valued at $590,375,000 after buying an additional 546,869 shares in the last quarter. Clearbridge Investments LLC grew its stake in Surgery Partners by 1.3% during the second quarter. Clearbridge Investments LLC now owns 5,585,530 shares of the company’s stock valued at $132,880,000 after acquiring an additional 73,007 shares in the last quarter. Janus Henderson Group PLC grew its stake in Surgery Partners by 27.5% during the third quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company’s stock valued at $177,235,000 after acquiring an additional 1,184,450 shares in the last quarter. Deerfield Management Company L.P. Series C increased its holdings in Surgery Partners by 47.7% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock valued at $111,986,000 after acquiring an additional 1,520,484 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Surgery Partners by 26.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock worth $66,643,000 after purchasing an additional 589,499 shares in the last quarter.

About Surgery Partners

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.