Surgery Partners (NASDAQ:SGRY) Reaches New 12-Month Low – Here’s What Happened

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $21.19 and last traded at $21.20, with a volume of 878044 shares changing hands. The stock had previously closed at $22.52.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $43.00 price target on shares of Surgery Partners in a research report on Friday, October 4th. Citigroup cut their target price on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. KeyCorp began coverage on Surgery Partners in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Macquarie reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday, November 19th. Finally, UBS Group started coverage on Surgery Partners in a report on Monday, October 14th. They set a “buy” rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.38.

Surgery Partners Stock Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. The business’s 50 day simple moving average is $28.42 and its 200-day simple moving average is $28.17.

Surgery Partners (NASDAQ:SGRY) last announced 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 analyst estimates of $768.99 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, analysts predict that Surgery Partners, Inc. will post 0.73 EPS for the current fiscal year.

Institutional Trading of Surgery Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. raised its holdings in Surgery Partners by 19.5% in the 3rd quarter. Franklin Resources Inc. now owns 21,324 shares of the company’s stock valued at $677,000 after buying an additional 3,487 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Surgery Partners in the 3rd quarter valued at approximately $626,000. King Street Capital Management L.P. bought a new position in shares of Surgery Partners during the third quarter valued at $46,748,000. Geode Capital Management LLC lifted its holdings in shares of Surgery Partners by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company’s stock worth $60,117,000 after purchasing an additional 42,897 shares during the period. Finally, MidWestOne Financial Group Inc. grew its stake in shares of Surgery Partners by 3.8% in the third quarter. MidWestOne Financial Group Inc. now owns 73,502 shares of the company’s stock worth $2,370,000 after purchasing an additional 2,716 shares during the last quarter.

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.