Surgery Partners (NASDAQ:SGRY) Reaches New 1-Year Low - Here's Why

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The company traded as low as $18.87 and last traded at $19.06, with a volume of 915827 shares. The stock had previously closed at $19.83.

Wall Street Analysts Forecast Growth

SGRY has been the topic of several recent analyst reports. Barclays cut their target price on shares of Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. Benchmark reiterated a "buy" rating and set a $35.00 price target on shares of Surgery Partners in a report on Monday, April 21st. Macquarie reduced their price objective on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $35.00 price objective on shares of Surgery Partners in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.56.

Surgery Partners Stock Down 4.4%

The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -12.45 and a beta of 1.93. The business has a fifty day moving average of $22.39 and a 200 day moving average of $22.69. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.89 and a quick ratio of 1.73.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.04). The business had revenue of $776.00 million during the quarter, compared to the consensus estimate of $777.77 million. Surgery Partners had a positive return on equity of 2.41% and a negative net margin of 6.10%. The business's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bayforest Capital Ltd acquired a new stake in Surgery Partners in the 1st quarter worth approximately $1,017,000. Woodline Partners LP acquired a new stake in shares of Surgery Partners in the first quarter worth $12,478,000. Empowered Funds LLC boosted its holdings in shares of Surgery Partners by 11.0% during the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company's stock worth $305,000 after buying an additional 1,278 shares during the period. Caxton Associates LLP acquired a new position in Surgery Partners in the 1st quarter valued at $4,351,000. Finally, Twin Securities Inc. bought a new position in Surgery Partners in the 1st quarter worth $7,844,000.

Surgery Partners Company Profile

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.

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