Surgery Partners (NASDAQ:SGRY) Shares Down 3.3% – Should You Sell?

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price was down 3.3% on Thursday . The stock traded as low as $13.26 and last traded at $13.4750. Approximately 911,074 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 1,666,342 shares. The stock had previously closed at $13.93.

Analyst Ratings Changes

A number of brokerages recently issued reports on SGRY. Royal Bank Of Canada decreased their price target on shares of Surgery Partners from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 price objective on shares of Surgery Partners in a research report on Tuesday, August 11th. Raymond James Financial set a $18.00 price objective on shares of Surgery Partners in a report on Tuesday, August 11th. Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Surgery Partners from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, September 14th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Surgery Partners Stock Performance

The firm has a 50 day moving average of $14.82 and a two-hundred day moving average of $14.25. The stock has a market cap of $1.73 billion, a PE ratio of -18.93, a PEG ratio of 3.67 and a beta of 1.92. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The company had revenue of $848.90 million for the quarter, compared to analyst estimates of $830.03 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Research analysts predict that Surgery Partners, Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, Director Teresa DeLuca bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average cost of $14.35 per share, with a total value of $143,500.00. Following the transaction, the director directly owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. This represents a 17.59% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

Large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new stake in shares of Surgery Partners in the 2nd quarter valued at about $308,000. Varde Management L.P. grew its stake in Surgery Partners by 32.8% during the 2nd quarter. Varde Management L.P. now owns 1,003,447 shares of the company’s stock worth $16,858,000 after buying an additional 248,009 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in Surgery Partners by 19.8% during the second quarter. TD Waterhouse Canada Inc. now owns 166,411 shares of the company’s stock worth $2,762,000 after buying an additional 27,559 shares during the period. Penn Capital Management Company LLC acquired a new position in Surgery Partners during the second quarter worth approximately $2,941,000. Finally, Hsbc Holdings PLC increased its position in Surgery Partners by 54.5% during the second quarter. Hsbc Holdings PLC now owns 2,958,912 shares of the company’s stock worth $48,912,000 after buying an additional 1,043,244 shares during the period.

Surgery Partners Company Profile

Surgery Partners, Inc (NASDAQ: SGRY) is a healthcare services company that owns and operates a network of ambulatory surgery centers and surgical hospitals in the United States. The company works with physicians and health systems to provide outpatient and same-day surgical care in settings outside traditional hospital facilities.

Its services cover a range of specialties, including orthopedics, pain management, gastroenterology, ophthalmology, gynecology, urology and other procedural areas.