Surgery Partners (NASDAQ:SGRY) Stock Price Down 3.3% – Should You Sell?

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price fell 3.3% during mid-day trading on Thursday . The stock traded as low as $13.26 and last traded at $13.4750. 911,074 shares changed hands during trading, a decline of 45% from the average daily volume of 1,666,342 shares. The stock had previously closed at $13.93.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SGRY. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research note on Friday, August 21st. Royal Bank Of Canada dropped their price target on Surgery Partners from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Raymond James Financial set a $18.00 price objective on shares of Surgery Partners in a research report on Tuesday, August 11th. JPMorgan Chase & Co. raised their target price on shares of Surgery Partners from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Zacks Research lowered shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Surgery Partners Price Performance

The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95. The stock has a market capitalization of $1.79 billion, a P/E ratio of -19.52, a price-to-earnings-growth ratio of 3.75 and a beta of 1.92. The firm has a 50-day moving average price of $14.95 and a 200 day moving average price of $14.28.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The company had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. During the same quarter in the previous year, the company posted $0.17 EPS. Surgery Partners’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that Surgery Partners, Inc. will post 0.25 EPS for the current year.

Insider Activity

In other Surgery Partners news, Director Teresa DeLuca bought 10,000 shares of Surgery Partners stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average price of $14.35 per share, with a total value of $143,500.00. Following the acquisition, the director owned 66,843 shares in the company, valued at approximately $959,197.05. This trade represents a 17.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new position in Surgery Partners in the 2nd quarter worth approximately $308,000. Varde Management L.P. boosted its stake in shares of Surgery Partners by 32.8% during the second quarter. Varde Management L.P. now owns 1,003,447 shares of the company’s stock valued at $16,858,000 after purchasing an additional 248,009 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of Surgery Partners by 19.8% in the second quarter. TD Waterhouse Canada Inc. now owns 166,411 shares of the company’s stock worth $2,762,000 after purchasing an additional 27,559 shares during the last quarter. Penn Capital Management Company LLC bought a new position in shares of Surgery Partners in the second quarter worth approximately $2,941,000. Finally, Hsbc Holdings PLC increased its stake in shares of Surgery Partners by 54.5% in the second quarter. Hsbc Holdings PLC now owns 2,958,912 shares of the company’s stock worth $48,912,000 after buying an additional 1,043,244 shares during the period.

About Surgery Partners

Surgery Partners, Inc (NASDAQ: SGRY) is a healthcare services company that owns and operates a network of ambulatory surgery centers and surgical hospitals in the United States. The company works with physicians and health systems to provide outpatient and same-day surgical care in settings outside traditional hospital facilities.

Its services cover a range of specialties, including orthopedics, pain management, gastroenterology, ophthalmology, gynecology, urology and other procedural areas.