Surgery Partners (NASDAQ:SGRY) Trading Down 3.7% – Should You Sell?

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price dropped 3.7% on Tuesday . The stock traded as low as $20.38 and last traded at $20.38. Approximately 41,930 shares were traded during trading, a decline of 94% from the average daily volume of 758,644 shares. The stock had previously closed at $21.16.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SGRY. Royal Bank of Canada cut their target price on shares of 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 initiated coverage on Surgery Partners in a report on Monday, October 14th. They issued a “buy” rating and a $38.00 price objective for the company. KeyCorp began coverage on Surgery Partners in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Bank of America started coverage on Surgery Partners in a research report on Monday, December 16th. They issued a “buy” rating and a $30.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.56.

Surgery Partners Stock Down 1.1 %

The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The stock has a 50 day simple moving average of $22.46 and a 200 day simple moving average of $27.26. The firm has a market capitalization of $2.54 billion, a PE ratio of -41.67, a PEG ratio of 14.31 and a beta of 2.58.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $770.40 million during the quarter, compared to the consensus estimate of $768.99 million. During the same quarter in the prior year, the business posted $0.15 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts forecast that Surgery Partners, Inc. will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On Surgery Partners

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

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.