Surgery Partners Inc. (NASDAQ:SGRY) shares dropped 3.2% during mid-day trading on Wednesday . The stock traded as low as $18.07 and last traded at $18.50, with a volume of 82,186 shares. The stock had previously closed at $19.12.

SGRY has been the subject of several recent research reports. KeyCorp initiated coverage on shares of Surgery Partners in a report on Thursday, June 9th. They set an “overweight” rating and a $21.00 target price for the company. Zacks Investment Research upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Morgan Stanley restated a “hold” rating on shares of Surgery Partners in a research report on Friday, May 6th. Jefferies Group restated a “buy” rating and set a $27.00 price target on shares of Surgery Partners in a research report on Wednesday, August 10th. Finally, Barclays PLC initiated coverage on shares of Surgery Partners in a research report on Wednesday, July 13th. They set an “equal weight” rating and a $20.00 price target on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $22.44.

The company has a market cap of $919.64 million and a price-to-earnings ratio of 102.43. The stock’s 50 day moving average is $17.61 and its 200 day moving average is $15.40.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Tuesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The company earned $289.70 million during the quarter, compared to analyst estimates of $275.99 million. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. Equities research analysts forecast that Surgery Partners Inc. will post $0.64 EPS for the current year.

A number of hedge funds have added to or reduced their stakes in SGRY. Wells Fargo & Company MN acquired a new stake in Surgery Partners during the fourth quarter valued at approximately $14,025,000. BlackRock Advisors LLC acquired a new stake in Surgery Partners during the fourth quarter valued at approximately $23,579,000. Finally, Jennison Associates LLC acquired a new stake in Surgery Partners during the fourth quarter valued at approximately $34,117,000.

Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.

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