Surgery Partners (NASDAQ:SGRY) Sets New 12-Month Low After Analyst Downgrade

Surgery Partners, Inc. (NASDAQ:SGRY) shares reached a new 52-week low during trading on Monday after Mizuho lowered their price target on the stock from $28.00 to $22.00. Mizuho currently has an outperform rating on the stock. Surgery Partners traded as low as $15.01 and last traded at $15.05, with a volume of 1308641 shares trading hands. The stock had previously closed at $15.28.

SGRY has been the subject of a number of other research reports. Bank of America started coverage on Surgery Partners in a report on Monday, July 28th. They set a “buy” rating and a $28.00 target price for the company. Royal Bank Of Canada decreased their price objective on Surgery Partners from $35.00 to $31.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $36.00 target price on shares of Surgery Partners in a research note on Tuesday, October 7th. UBS Group reduced their price target on Surgery Partners from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Benchmark decreased their price target on shares of Surgery Partners from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Surgery Partners presently has an average rating of “Moderate Buy” and an average price target of $28.89.

Insider Transactions at Surgery Partners

In related news, insider Harrison R. Bane sold 9,339 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $22.48, for a total transaction of $209,940.72. Following the completion of the transaction, the insider directly owned 117,181 shares of the company’s stock, valued at approximately $2,634,228.88. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

A number of institutional investors and hedge funds have recently made changes to their positions in SGRY. Allianz Asset Management GmbH acquired a new position in Surgery Partners during the first quarter worth $420,000. Bank of New York Mellon Corp grew its position in shares of Surgery Partners by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 341,702 shares of the company’s stock valued at $8,115,000 after acquiring an additional 926 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Surgery Partners by 86.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company’s stock worth $28,000 after purchasing an additional 542 shares during the last quarter. Camelot Portfolios LLC acquired a new position in shares of Surgery Partners during the 2nd quarter worth about $321,000. Finally, Pier Capital LLC raised its holdings in shares of Surgery Partners by 22,335.0% in the 2nd quarter. Pier Capital LLC now owns 174,544 shares of the company’s stock valued at $3,880,000 after purchasing an additional 173,766 shares during the period.

Surgery Partners Stock Performance

The company has a market capitalization of $1.95 billion, a P/E ratio of -10.53 and a beta of 1.85. The stock’s fifty day moving average price is $20.79 and its 200-day moving average price is $21.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.78 and a current ratio of 1.93.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The business had revenue of $821.50 million for the quarter, compared to analyst estimates of $823.55 million. During the same period last year, the firm earned $0.19 EPS. Surgery Partners’s quarterly revenue was up 6.6% compared to the same quarter last year. Surgery Partners has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

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.