Surgery Partners (NASDAQ:SGRY) Reaches New 52-Week Low – Should You Sell?

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) hit a new 52-week low during trading on Wednesday . The stock traded as low as $19.83 and last traded at $20.05, with a volume of 902763 shares. The stock had previously closed at $21.03.

Wall Street Analyst Weigh In

SGRY has been the subject of a number of research analyst reports. Royal Bank of Canada cut their price objective on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Macquarie restated an “outperform” rating and set a $34.00 price target on shares of Surgery Partners in a report on Tuesday, November 19th. Bank of America began coverage on Surgery Partners in a report on Monday. They set a “buy” rating and a $30.00 price objective on the stock. UBS Group started coverage on shares of Surgery Partners in a research note on Monday, October 14th. They set a “buy” rating and a $38.00 price target on the stock. Finally, KeyCorp started coverage on Surgery Partners in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.56.

Surgery Partners Stock Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. The stock has a market capitalization of $2.53 billion, a PE ratio of -41.42, a P/E/G ratio of 17.40 and a beta of 2.58. The firm has a fifty day moving average price of $26.59 and a two-hundred day moving average price of $27.89.

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

Institutional Trading of Surgery Partners

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP grew its holdings in Surgery Partners by 133.1% during the 2nd quarter. Quarry LP now owns 3,082 shares of the company’s stock worth $73,000 after acquiring an additional 1,760 shares in the last quarter. KBC Group NV lifted its position in shares of Surgery Partners by 31.8% in the 3rd quarter. KBC Group NV now owns 2,385 shares of the company’s stock worth $77,000 after purchasing an additional 576 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Surgery Partners by 747.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock valued at $124,000 after purchasing an additional 3,379 shares in the last quarter. Creative Planning purchased a new position in Surgery Partners during the third quarter valued at approximately $258,000. Finally, Versor Investments LP bought a new position in Surgery Partners in the third quarter worth approximately $271,000.

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.