Surgery Partners (NASDAQ:SGRY) Shares Gap Down – Should You Sell?

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $31.43, but opened at $28.07. Surgery Partners shares last traded at $29.06, with a volume of 410,406 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $49.00 price objective on shares of Surgery Partners in a research note on Wednesday, August 7th. StockNews.com lowered Surgery Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. KeyCorp initiated coverage on shares of Surgery Partners in a research note on Friday, October 11th. They set a “sector weight” rating for the company. Citigroup reduced their price objective on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Macquarie cut their target price on Surgery Partners from $35.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Surgery Partners Stock Performance

The company has a current ratio of 1.83, a quick ratio of 1.69 and a debt-to-equity ratio of 0.96. The firm’s 50-day moving average is $30.88 and its two-hundred day moving average is $28.47. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -53.14, a P/E/G ratio of 2.34 and a beta of 2.76.

Institutional Trading of Surgery Partners

Several hedge funds have recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of Surgery Partners by 133.1% in the 2nd quarter. Quarry LP now owns 3,082 shares of the company’s stock valued at $73,000 after acquiring an additional 1,760 shares during the last quarter. KBC Group NV raised its holdings in Surgery Partners by 31.8% during the third quarter. KBC Group NV now owns 2,385 shares of the company’s stock worth $77,000 after purchasing an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Surgery Partners by 102.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock worth $80,000 after buying an additional 1,375 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in shares of Surgery Partners by 257.1% in the 1st quarter. EntryPoint Capital LLC now owns 6,399 shares of the company’s stock valued at $191,000 after buying an additional 4,607 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Surgery Partners in the 3rd quarter valued at $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.