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

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) hit a new 52-week low on Thursday . The stock traded as low as $21.19 and last traded at $21.20, with a volume of 878044 shares trading hands. The stock had previously closed at $22.52.

Analysts Set New Price Targets

A number of equities analysts recently commented on SGRY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $43.00 price objective on shares of Surgery Partners in a research note on Friday, October 4th. UBS Group initiated coverage on shares of Surgery Partners in a research report on Monday, October 14th. They issued a “buy” rating and a $38.00 price target on the stock. Royal Bank of Canada reduced their price objective on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, StockNews.com cut shares of Surgery Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.38.

Surgery Partners Trading Down 5.9 %

The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The stock’s 50-day moving average price is $28.42 and its 200-day moving average price is $28.17.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results 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 firm had revenue of $770.40 million during the quarter, compared to the consensus estimate of $768.99 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. As a group, sell-side analysts expect that Surgery Partners, Inc. will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Surgery Partners

Several large investors have recently added to or reduced their stakes in the business. Quarry LP lifted its position in shares of Surgery Partners by 133.1% during the second quarter. Quarry LP now owns 3,082 shares of the company’s stock valued at $73,000 after purchasing an additional 1,760 shares in the last quarter. KBC Group NV increased its position in shares of Surgery Partners by 31.8% during the third quarter. KBC Group NV now owns 2,385 shares of the company’s stock valued at $77,000 after buying an additional 576 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Surgery Partners by 102.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock valued at $80,000 after acquiring an additional 1,375 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Surgery Partners by 747.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock worth $124,000 after acquiring an additional 3,379 shares during the period. Finally, Creative Planning purchased a new stake in Surgery Partners in the 3rd quarter worth approximately $258,000.

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.