Surgery Partners (NASDAQ:SGRY) Stock Price Down 6.9%

Surgery Partners, Inc. (NASDAQ:SGRYGet Rating)’s share price traded down 6.9% on Friday . The stock traded as low as $27.12 and last traded at $27.27. 2,902 shares changed hands during trading, a decline of 99% from the average session volume of 440,676 shares. The stock had previously closed at $29.29.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com downgraded Surgery Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th. Cowen lowered their target price on Surgery Partners to $39.00 in a research note on Tuesday, August 9th. Royal Bank of Canada lowered their target price on Surgery Partners from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, August 3rd. Finally, Bank of America downgraded Surgery Partners from a “buy” rating to a “neutral” rating and lowered their target price for the company from $55.00 to $36.00 in a research note on Wednesday, June 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.44.

Surgery Partners Stock Down 6.1 %

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.51 and a quick ratio of 1.39. The stock’s fifty day simple moving average is $33.30 and its 200-day simple moving average is $40.98. The stock has a market cap of $2.47 billion, a P/E ratio of -78.60 and a beta of 2.90.

Surgery Partners (NASDAQ:SGRYGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $615.40 million for the quarter, compared to analysts’ expectations of $624.64 million. Surgery Partners had a negative return on equity of 0.61% and a negative net margin of 1.23%. On average, research analysts anticipate that Surgery Partners, Inc. will post -0.01 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

A number of hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its holdings in shares of Surgery Partners by 3.5% during the second quarter. Legal & General Group Plc now owns 30,782 shares of the company’s stock valued at $890,000 after buying an additional 1,052 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Surgery Partners by 13.6% during the second quarter. Goldman Sachs Group Inc. now owns 74,901 shares of the company’s stock valued at $2,166,000 after acquiring an additional 8,942 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in shares of Surgery Partners during the second quarter valued at approximately $205,000. State Street Corp increased its stake in shares of Surgery Partners by 5.8% during the second quarter. State Street Corp now owns 770,505 shares of the company’s stock valued at $22,283,000 after acquiring an additional 42,267 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Surgery Partners during the second quarter valued at approximately $293,000.

About Surgery Partners

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Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company operates through two segments, Surgical Facility Services and Ancillary Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.

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