Surgery Partners (NASDAQ:SGRY) Trading Down 6.7% – Time to Sell?

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

Wall Street Analysts Forecast Growth

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

Surgery Partners Trading Up 5.1%

The company has a 50 day moving average price of $14.78 and a 200 day moving average price of $14.43. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -26.48, a price-to-earnings-growth ratio of 4.52 and a beta of 1.89. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.69 and a current ratio of 1.86.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. The business had revenue of $810.90 million during the quarter, compared to analysts’ expectations of $797.69 million. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS. On average, research analysts expect that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

A number of institutional investors have recently made changes to their positions in SGRY. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Surgery Partners by 45,640.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after acquiring an additional 2,282 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Surgery Partners by 128.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock valued at $58,000 after purchasing an additional 1,519 shares during the last quarter. Fifth Third Bancorp raised its position in Surgery Partners by 5,324.0% in the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock valued at $48,000 after purchasing an additional 3,993 shares during the period. Aquatic Capital Management LLC purchased a new stake in Surgery Partners in the third quarter valued at approximately $121,000. Finally, Tower Research Capital LLC TRC lifted its stake in Surgery Partners by 68.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,313 shares of the company’s stock worth $207,000 after purchasing an additional 3,794 shares in the last quarter.

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.