Surgery Partners (NASDAQ:SGRY) Stock Price Down 3.7% – Time to Sell?

Surgery Partners, Inc. (NASDAQ:SGRY) shares were down 3.7% during mid-day trading on Tuesday . The company traded as low as $20.38 and last traded at $20.38. Approximately 41,930 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 758,644 shares. The stock had previously closed at $21.16.

Wall Street Analysts Forecast Growth

SGRY has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, December 3rd. UBS Group began coverage on shares of Surgery Partners in a research report on Monday, October 14th. They set a “buy” rating and a $38.00 price objective for the company. Macquarie reissued an “outperform” rating and issued a $34.00 price target on shares of Surgery Partners in a research report on Tuesday, November 19th. Bank of America initiated coverage on Surgery Partners in a research note on Monday, December 16th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, KeyCorp began coverage on shares of Surgery Partners in a research report on Friday, October 11th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.56.

Surgery Partners Trading Down 5.3 %

The company has a market cap of $2.55 billion, a P/E ratio of -41.75, a P/E/G ratio of 17.40 and a beta of 2.58. The business’s 50-day moving average price is $22.84 and its 200 day moving average price is $27.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). The business had revenue of $770.40 million during the quarter, compared to the consensus estimate of $768.99 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. Surgery Partners’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. As a group, analysts expect that Surgery Partners, Inc. will post 0.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SGRY. FMR LLC raised its position in shares of Surgery Partners by 3.1% during the third quarter. FMR LLC now owns 18,311,867 shares of the company’s stock worth $590,375,000 after acquiring an additional 546,869 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Surgery Partners by 1.3% in the 2nd quarter. Clearbridge Investments LLC now owns 5,585,530 shares of the company’s stock valued at $132,880,000 after purchasing an additional 73,007 shares during the last quarter. Janus Henderson Group PLC raised its stake in Surgery Partners by 27.5% during the third quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company’s stock worth $177,235,000 after buying an additional 1,184,450 shares during the last quarter. Deerfield Management Company L.P. Series C raised its position in shares of Surgery Partners by 47.7% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock worth $111,986,000 after acquiring an additional 1,520,484 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Surgery Partners by 26.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock worth $66,643,000 after acquiring an additional 589,499 shares in the last quarter.

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.