Surgery Partners (NASDAQ:SGRY) Shares Down 5.3% After Analyst Downgrade

Surgery Partners, Inc. (NASDAQ:SGRY) was down 5.3% on Wednesday after Macquarie lowered their price target on the stock from $35.00 to $34.00. Macquarie currently has an outperform rating on the stock. Surgery Partners traded as low as $28.00 and last traded at $28.00. Approximately 65,815 shares changed hands during trading, a decline of 93% from the average daily volume of 932,245 shares. The stock had previously closed at $29.57.

Several other equities analysts have also recently weighed in on SGRY. KeyCorp began coverage on Surgery Partners in a report on Friday, October 11th. They set a “sector weight” rating for the company. Citigroup dropped their target price on Surgery Partners from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $49.00 target price on shares of Surgery Partners in a report on Wednesday, August 7th. Finally, UBS Group began coverage on Surgery Partners in a report on Monday, October 14th. They issued a “buy” rating and a $38.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.00.

Institutional Investors Weigh In On Surgery Partners

Large investors have recently made changes to their positions in the stock. Arizona State Retirement System grew its position in Surgery Partners by 1.9% in the second quarter. Arizona State Retirement System now owns 19,494 shares of the company’s stock worth $464,000 after acquiring an additional 359 shares during the period. Natixis Advisors LLC grew its position in Surgery Partners by 3.0% in the third quarter. Natixis Advisors LLC now owns 12,828 shares of the company’s stock worth $414,000 after acquiring an additional 376 shares during the period. KBC Group NV grew its position in Surgery Partners by 31.8% in the third quarter. KBC Group NV now owns 2,385 shares of the company’s stock worth $77,000 after acquiring an additional 576 shares during the period. Mackenzie Financial Corp grew its position in Surgery Partners by 3.4% in the second quarter. Mackenzie Financial Corp now owns 19,999 shares of the company’s stock worth $476,000 after acquiring an additional 662 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of Surgery Partners by 7.8% during the first quarter. ProShare Advisors LLC now owns 13,588 shares of the company’s stock worth $405,000 after buying an additional 986 shares during the period.

Surgery Partners Stock Performance

The firm has a 50-day moving average price of $30.88 and a 200 day moving average price of $28.47. The firm has a market capitalization of $3.24 billion, a PE ratio of -53.14, a price-to-earnings-growth ratio of 2.34 and a beta of 2.76. The company has a quick ratio of 1.69, a current ratio of 1.83 and a debt-to-equity ratio of 0.96.

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.