Surgery Partners (NASDAQ:SGRY) Shares Gap Down – Here’s Why

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) gapped down prior to trading on Friday . The stock had previously closed at $30.87, but opened at $30.25. Surgery Partners shares last traded at $29.30, with a volume of 92,837 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SGRY shares. Cantor Fitzgerald restated an “overweight” rating and set a $43.00 price objective on shares of Surgery Partners in a research report on Friday, October 4th. Citigroup dropped their price target on Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Benchmark reiterated a “buy” rating and set a $50.00 price objective on shares of Surgery Partners in a research report on Monday, August 26th. UBS Group assumed coverage on Surgery Partners in a report on Monday, October 14th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $49.00 price target on shares of Surgery Partners in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.63.

Surgery Partners Trading Down 3.9 %

The stock has a 50 day moving average of $31.26 and a 200-day moving average of $28.05. The company has a market capitalization of $3.77 billion, a P/E ratio of -108.51, a P/E/G ratio of 2.45 and a beta of 2.75. The company has a current ratio of 1.83, a quick ratio of 1.69 and a debt-to-equity ratio of 0.96.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $762.10 million during the quarter, compared to analyst estimates of $735.94 million. Surgery Partners had a negative net margin of 1.17% and a positive return on equity of 2.96%. The company’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. On average, research analysts predict that Surgery Partners, Inc. will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Surgery Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System grew its stake in Surgery Partners by 1.9% during the second quarter. Arizona State Retirement System now owns 19,494 shares of the company’s stock valued at $464,000 after acquiring an additional 359 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Surgery Partners by 3.4% in the second quarter. Mackenzie Financial Corp now owns 19,999 shares of the company’s stock worth $476,000 after purchasing an additional 662 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Surgery Partners by 7.8% in the first quarter. ProShare Advisors LLC now owns 13,588 shares of the company’s stock worth $405,000 after buying an additional 986 shares in the last quarter. Natixis Advisors LLC boosted its stake in Surgery Partners by 11.0% during the second quarter. Natixis Advisors LLC now owns 12,452 shares of the company’s stock valued at $296,000 after buying an additional 1,237 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Surgery Partners by 102.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock valued at $80,000 after buying an additional 1,375 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.