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

Surgery Partners, Inc. (NASDAQ:SGRY)’s stock price gapped down before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SGRY shares. Cantor Fitzgerald restated an “overweight” rating and issued a $43.00 price target on shares of Surgery Partners in a research report on Friday, October 4th. KeyCorp initiated coverage on shares of Surgery Partners in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. UBS Group started coverage on shares of Surgery Partners in a research note on Monday, October 14th. They issued a “buy” rating and a $38.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $49.00 target price on shares of Surgery Partners in a research report on Wednesday, August 7th. Finally, Benchmark reiterated a “buy” rating and issued a $50.00 price target on shares of Surgery Partners in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Surgery Partners has a consensus rating of “Moderate Buy” and an average price target of $39.63.

Surgery Partners Trading Down 4.5 %

The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.69 and a current ratio of 1.83. The stock has a market cap of $3.75 billion, a P/E ratio of -109.14, a P/E/G ratio of 2.45 and a beta of 2.75. The company has a 50-day simple moving average of $31.27 and a 200-day simple moving average of $28.07.

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

Hedge Funds Weigh In On Surgery Partners

Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its position in Surgery Partners by 102.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock worth $80,000 after purchasing an additional 1,375 shares during the last quarter. Quarry LP raised its position in shares of Surgery Partners by 133.1% during the second quarter. Quarry LP now owns 3,082 shares of the company’s stock worth $73,000 after acquiring an additional 1,760 shares during the last quarter. EntryPoint Capital LLC lifted its stake in shares of Surgery Partners by 257.1% during the first quarter. EntryPoint Capital LLC now owns 6,399 shares of the company’s stock valued at $191,000 after acquiring an additional 4,607 shares during the period. Creative Planning bought a new position in Surgery Partners in the third quarter valued at about $258,000. Finally, Capstone Investment Advisors LLC increased its position in Surgery Partners by 38.7% in the first quarter. Capstone Investment Advisors LLC now owns 9,151 shares of the company’s stock worth $273,000 after purchasing an additional 2,551 shares during the period.

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.