Surgery Partners (NASDAQ:SGRY) Stock Price Down 6.7% – Should You Sell?

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price was down 6.7% 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.

Analysts Set New Price Targets

A number of brokerages have issued reports on SGRY. Jefferies Financial Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Surgery Partners in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Surgery Partners in a research report on Tuesday, May 26th. Finally, Zacks Research upgraded Surgery Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. One research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.18.

Surgery Partners Stock Performance

The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -24.72, a P/E/G ratio of 4.90 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. The stock has a fifty day simple moving average of $14.74 and a two-hundred day simple moving average of $14.43.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.12. Surgery Partners had a negative net margin of 2.28% and a positive return on equity of 1.04%. The business had revenue of $810.90 million during the quarter, compared to the consensus estimate of $797.69 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that Surgery Partners, Inc. will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Surgery Partners

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Surgery Partners by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock worth $1,085,000 after purchasing an additional 2,015 shares during the period. Millennium Management LLC lifted its stake in shares of Surgery Partners by 1,253.7% in the first quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock valued at $4,804,000 after buying an additional 219,806 shares in the last quarter. Empowered Funds LLC boosted its stake in Surgery Partners by 11.0% during the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock valued at $305,000 after purchasing an additional 1,278 shares during the last quarter. Prudential Financial Inc. bought a new stake in Surgery Partners during the second quarter worth $219,000. Finally, Invesco Ltd. grew its stake in shares of Surgery Partners by 7.4% in the 2nd quarter. Invesco Ltd. now owns 1,683,311 shares of the company’s stock worth $37,420,000 after acquiring an additional 115,627 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.