Surgery Partners (NASDAQ:SGRY) Sets New 52-Week Low – What’s Next?

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price reached a new 52-week low on Monday . The stock traded as low as $22.04 and last traded at $22.17, with a volume of 1715635 shares trading hands. The stock had previously closed at $22.95.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SGRY shares. Macquarie restated an “outperform” rating and set a $34.00 price target on shares of Surgery Partners in a research note on Tuesday. KeyCorp started coverage on shares of Surgery Partners in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. UBS Group started coverage on shares of Surgery Partners in a research note on Monday, October 14th. They set a “buy” rating and a $38.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a research note on Friday, October 4th. Finally, StockNews.com downgraded shares of Surgery Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.71.

Surgery Partners Price Performance

The company has a market cap of $2.86 billion, a price-to-earnings ratio of -45.81, a P/E/G ratio of 16.86 and a beta of 2.76. The company has a 50 day moving average price of $30.31 and a 200-day moving average price of $28.45. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share 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 company had revenue of $770.40 million for the quarter, compared to the consensus estimate of $768.99 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts predict that Surgery Partners, Inc. will post 0.83 EPS for the current fiscal year.

Institutional Trading of Surgery Partners

A number of institutional investors have recently made changes to their positions in SGRY. King Street Capital Management L.P. bought a new position in shares of Surgery Partners during the third quarter valued at approximately $46,748,000. Geode Capital Management LLC raised 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 valued at $60,117,000 after acquiring an additional 42,897 shares in the last quarter. MidWestOne Financial Group Inc. raised its holdings in shares of Surgery Partners by 3.8% during the third quarter. MidWestOne Financial Group Inc. now owns 73,502 shares of the company’s stock valued at $2,370,000 after acquiring an additional 2,716 shares in the last quarter. Pier Capital LLC raised its holdings in shares of Surgery Partners by 0.5% during the third quarter. Pier Capital LLC now owns 329,882 shares of the company’s stock valued at $10,635,000 after acquiring an additional 1,589 shares in the last quarter. Finally, NFJ Investment Group LLC bought a new position in Surgery Partners in the third quarter worth $1,688,000.

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.