Surgery Partners (NASDAQ:SGRY) Reaches New 1-Year Low – What’s Next?

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $14.94 and last traded at $14.9250, with a volume of 259880 shares. The stock had previously closed at $15.30.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SGRY shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $36.00 target price on shares of Surgery Partners in a research note on Tuesday, October 7th. Barclays lowered their target price on shares of Surgery Partners from $24.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, November 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Surgery Partners in a research note on Monday, December 29th. Royal Bank Of Canada dropped their target price on shares of Surgery Partners from $35.00 to $31.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Surgery Partners from $27.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.11.

Surgery Partners Stock Up 2.6%

The business’s fifty day moving average price is $16.00 and its two-hundred day moving average price is $19.51. The firm has a market capitalization of $1.92 billion, a P/E ratio of -10.93 and a beta of 1.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.72 and a current ratio of 1.88.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $821.50 million during the quarter, compared to analyst estimates of $823.55 million. Surgery Partners had a positive return on equity of 2.41% and a negative net margin of 5.21%.The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. Equities analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surgery Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Pentwater Capital Management LP lifted its position in Surgery Partners by 66.9% during the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock valued at $252,777,000 after purchasing an additional 4,681,000 shares during the period. UBS Group AG lifted its holdings in Surgery Partners by 111.4% during the fourth quarter. UBS Group AG now owns 7,803,974 shares of the company’s stock valued at $120,571,000 after purchasing an additional 4,113,052 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Surgery Partners by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,614,514 shares of the company’s stock worth $164,778,000 after buying an additional 424,518 shares during the last quarter. King Street Capital Management L.P. boosted its stake in shares of Surgery Partners by 24.5% in the second quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company’s stock worth $138,382,000 after acquiring an additional 1,225,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Surgery Partners by 25.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,860,215 shares of the company’s stock worth $105,177,000 after purchasing an additional 988,956 shares during the last quarter.

Surgery Partners Company Profile

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.