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

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) reached a new 52-week low on Monday . The company traded as low as $13.39 and last traded at $13.24, with a volume of 9685 shares. The stock had previously closed at $13.56.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Mizuho decreased their price objective on Surgery Partners from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, December 18th. UBS Group decreased their price target on shares of Surgery Partners from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Benchmark dropped their price objective on shares of Surgery Partners from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. JPMorgan Chase & Co. decreased their target price on shares of Surgery Partners from $27.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Finally, Barclays lowered their target price on shares of Surgery Partners from $24.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, November 21st. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Surgery Partners presently has an average rating of “Moderate Buy” and an average target price of $27.11.

Surgery Partners Stock Up 3.3%

The company has a current ratio of 1.88, a quick ratio of 1.72 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $1.80 billion, a PE ratio of -10.24 and a beta of 1.97. The stock’s fifty day simple moving average is $15.57 and its 200-day simple moving average is $19.03.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, November 10th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). Surgery Partners had a negative net margin of 5.21% and a positive return on equity of 2.41%. The firm had revenue of $821.50 million during the quarter, compared to analysts’ expectations of $823.55 million. During the same quarter in the prior year, the company earned $0.19 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Surgery Partners

Several institutional investors have recently modified their holdings of SGRY. Jones Financial Companies Lllp lifted its holdings in Surgery Partners by 313.1% during the third quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after acquiring an additional 930 shares during the period. AlphaQuest LLC grew its stake in Surgery Partners by 94.4% in the 2nd quarter. AlphaQuest LLC now owns 2,057 shares of the company’s stock valued at $46,000 after purchasing an additional 999 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Surgery Partners by 45,640.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock valued at $49,000 after purchasing an additional 2,282 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Surgery Partners by 128.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock worth $58,000 after purchasing an additional 1,519 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of Surgery Partners during the 2nd quarter worth $115,000.

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.