Surgery Partners (NASDAQ:SGRY) Hits New 12-Month Low – Time to Sell?

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price 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.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank of Canada cut their target price on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $43.00 price target on shares of Surgery Partners in a report on Friday, October 4th. Macquarie reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday, November 19th. JPMorgan Chase & Co. dropped their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. Finally, Bank of America started coverage on Surgery Partners in a report on Monday. They issued a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.56.

Surgery Partners Trading Up 8.2 %

The firm has a fifty day moving average of $26.18 and a two-hundred day moving average of $27.78. The company has a market cap of $2.70 billion, a PE ratio of -44.21, a price-to-earnings-growth ratio of 17.40 and a beta of 2.58. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

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

Institutional Trading of Surgery Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in Surgery Partners by 190.0% during the 2nd quarter. SG Americas Securities LLC now owns 17,276 shares of the company’s stock worth $411,000 after acquiring an additional 11,318 shares during the period. Raymond James & Associates raised its position in shares of Surgery Partners by 6.8% in the second quarter. Raymond James & Associates now owns 68,872 shares of the company’s stock worth $1,638,000 after buying an additional 4,370 shares in the last quarter. Tranquility Partners LLC raised its position in shares of Surgery Partners by 7.3% in the second quarter. Tranquility Partners LLC now owns 61,892 shares of the company’s stock worth $1,472,000 after buying an additional 4,192 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Surgery Partners by 12.4% during the second quarter. Bank of New York Mellon Corp now owns 347,485 shares of the company’s stock valued at $8,267,000 after buying an additional 38,285 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Surgery Partners by 21.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,504 shares of the company’s stock worth $369,000 after buying an additional 2,703 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.