Surgery Partners (NASDAQ:SGRY) Reaches New 1-Year Low – What’s Next?

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price reached a new 52-week low on Friday . The company traded as low as $11.53 and last traded at $11.6790, with a volume of 84480 shares traded. The stock had previously closed at $11.85.

Wall Street Analyst Weigh In

SGRY has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Surgery Partners in a report on Wednesday, March 4th. TD Cowen decreased their price objective on Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, March 5th. UBS Group reaffirmed a “buy” rating on shares of Surgery Partners in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Surgery Partners in a research report on Monday, December 29th. Finally, Barclays cut their price target on shares of Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.36.

Surgery Partners Trading Down 1.5%

The company has a debt-to-equity ratio of 1.15, a current ratio of 1.87 and a quick ratio of 1.71. The firm has a fifty day simple moving average of $14.29 and a 200-day simple moving average of $17.13. The firm has a market cap of $1.51 billion, a P/E ratio of -18.82 and a beta of 1.95.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.19). The firm had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $866.54 million. Surgery Partners had a positive return on equity of 1.28% and a negative net margin of 2.35%.Surgery Partners’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. On average, equities research analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Surgery Partners announced that its board has authorized a stock repurchase program on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Surgery Partners news, insider Jennifer Baldock sold 5,798 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $13.17, for a total transaction of $76,359.66. Following the transaction, the insider owned 326,474 shares in the company, valued at approximately $4,299,662.58. This represents a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David T. Doherty sold 8,867 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $12.50, for a total value of $110,837.50. Following the completion of the sale, the chief financial officer owned 221,679 shares of the company’s stock, valued at $2,770,987.50. The trade was a 3.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 96,896 shares of company stock valued at $1,284,058. Insiders own 2.70% of the company’s stock.

Institutional Trading of Surgery Partners

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Surgery Partners by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock valued at $1,085,000 after purchasing an additional 2,015 shares in the last quarter. Millennium Management LLC lifted its position in Surgery Partners by 1,253.7% during the first quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock worth $4,804,000 after buying an additional 219,806 shares in the last quarter. Empowered Funds LLC boosted its stake in Surgery Partners by 11.0% during the first quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock worth $305,000 after buying an additional 1,278 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Surgery Partners by 7.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,582 shares of the company’s stock valued at $391,000 after buying an additional 1,176 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Surgery Partners by 31.6% in the 2nd quarter. SG Americas Securities LLC now owns 10,507 shares of the company’s stock valued at $234,000 after buying an additional 2,523 shares in the last quarter.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.