Surgery Partners (NASDAQ:SGRY) Shares Gap Down - Should You Sell?

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $23.17, but opened at $20.01. Surgery Partners shares last traded at $20.22, with a volume of 1,462,798 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SGRY. Macquarie decreased their price target on shares of Surgery Partners from $34.00 to $33.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. Royal Bank Of Canada restated an "outperform" rating and set a $35.00 target price on shares of Surgery Partners in a research report on Tuesday, March 25th. Benchmark reaffirmed a "buy" rating and issued a $35.00 price target on shares of Surgery Partners in a report on Monday, April 21st. Finally, Barclays decreased 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 report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Surgery Partners has an average rating of "Moderate Buy" and a consensus target price of $33.56.

Surgery Partners Stock Performance

The firm has a market cap of $2.47 billion, a price-to-earnings ratio of -12.61 and a beta of 1.93. The firm's 50 day moving average is $22.36 and its 200-day moving average is $22.66. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.73 and a current ratio of 1.89.

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

Institutional Investors Weigh In On Surgery Partners

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

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.