Surgery Partners (SGRY) Trading Down 6.5%

Surgery Partners Inc (NASDAQ:SGRY)’s share price dropped 6.5% during mid-day trading on Thursday . The stock traded as low as $8.44 and last traded at $8.55. Approximately 532,281 shares were traded during trading, an increase of 105% from the average daily volume of 259,813 shares. The stock had previously closed at $9.14.

SGRY has been the topic of several recent research reports. Stifel Nicolaus set a $12.00 price target on Surgery Partners and gave the stock a “hold” rating in a research report on Wednesday, May 8th. BidaskClub upgraded Surgery Partners from a “hold” rating to a “buy” rating in a research report on Thursday, February 7th. ValuEngine lowered Surgery Partners from a “buy” rating to a “hold” rating in a research report on Thursday, February 7th. Finally, Zacks Investment Research upgraded Surgery Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $17.60.

The company has a quick ratio of 1.37, a current ratio of 1.49 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $475.50 million, a PE ratio of -3.49 and a beta of 2.47.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.03). Surgery Partners had a negative return on equity of 4.01% and a negative net margin of 11.59%. The business had revenue of $416.80 million during the quarter, compared to analysts’ expectations of $421.41 million. During the same quarter last year, the business posted ($0.26) EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities analysts forecast that Surgery Partners Inc will post -0.59 EPS for the current year.

In other Surgery Partners news, Director Adam T. Feinstein sold 7,865 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $9.95, for a total value of $78,256.75. Following the completion of the sale, the director now owns 8,895 shares in the company, valued at approximately $88,505.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in Surgery Partners by 40.5% in the 1st quarter. Citigroup Inc. now owns 3,512 shares of the company’s stock worth $40,000 after buying an additional 1,013 shares during the period. Quantamental Technologies LLC purchased a new stake in Surgery Partners in the 1st quarter worth approximately $50,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Surgery Partners in the 4th quarter worth approximately $54,000. Metropolitan Life Insurance Co. NY lifted its holdings in Surgery Partners by 351.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,766 shares of the company’s stock worth $66,000 after buying an additional 5,267 shares during the period. Finally, Menta Capital LLC purchased a new position in shares of Surgery Partners in the 4th quarter valued at approximately $99,000. Institutional investors and hedge funds own 96.76% of the company’s stock.

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About Surgery Partners (NASDAQ:SGRY)

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and related services in the United States. The company operates through three segments: Surgical Facility Services, Ancillary Services, and Optical 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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