Surgery Partners (NASDAQ:SGRY) Share Price Breaks Below 50 Day Moving Average - What's Next?

Key Points

• Surgery Partners shares fell below their 50-day moving average, trading as low as $13.68 before closing at $14.24, near the $14.25 average.
• Analyst sentiment remains generally positive: seven analysts rate the stock a Buy, three recommend Hold, and one recommends Sell. The consensus rating is Moderate Buy, with an average price target of $19.00.
• The company beat quarterly expectations, reporting $0.10 in EPS versus a $0.06 consensus estimate and $848.9 million in revenue. Revenue increased 2.7% year over year, although the company posted a negative net margin.

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report)'s share price passed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $14.25 and traded as low as $13.68. Surgery Partners shares last traded at $14.24, with a volume of 1,212,434 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SGRY. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $19.00 price objective on shares of Surgery Partners in a research report on Wednesday, September 30th. TD Cowen reissued a "buy" rating and set a $19.00 target price on shares of Surgery Partners in a research report on Friday, September 18th. Cantor Fitzgerald reissued an "overweight" rating on shares of Surgery Partners in a research report on Friday, October 2nd. Zacks Research downgraded Surgery Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Surgery Partners in a research note on Friday, August 21st. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Surgery Partners currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Surgery Partners Stock Performance

The firm has a market cap of $1.86 billion, a PE ratio of -20.34, a PEG ratio of 4.30 and a beta of 1.90. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18. The company has a 50-day simple moving average of $14.25 and a two-hundred day simple moving average of $14.37.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. The firm had revenue of $848.90 million during the quarter, compared to analyst estimates of $830.03 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%. The business's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.17 EPS. As a group, equities research analysts forecast that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Surgery Partners

In related news, Director Teresa DeLuca purchased 10,000 shares of Surgery Partners stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average price of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the director owned 66,843 shares in the company, valued at $959,197.05. This represents a 17.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Surgery Partners

Several large investors have recently modified their holdings of the stock. Jupiter Topco LLC purchased a new stake in Surgery Partners in the 2nd quarter worth about $233,220,000. Pentwater Capital Management LP bought a new position in shares of Surgery Partners in the second quarter valued at approximately $195,384,000. BlackRock Inc. bought a new position in shares of Surgery Partners in the second quarter valued at approximately $104,857,000. Hsbc Holdings PLC purchased a new position in Surgery Partners during the second quarter valued at approximately $48,912,000. Finally, Bank of America Corp DE purchased a new position in shares of Surgery Partners during the 2nd quarter valued at $20,374,000.

Surgery Partners Company Profile

Surgery Partners, Inc NASDAQ: SGRY is a healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals in partnership with physicians and health systems. Its facilities provide scheduled surgical care in outpatient and inpatient settings, with an emphasis on procedures that generally do not require extended hospital stays.

The company supports a range of specialties, including orthopedics, pain management, ophthalmology, gastroenterology, gynecology, and general surgery.

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