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

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price dropped 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 were traded during trading, a decline of 93% from the average daily volume of 932,245 shares. The stock had previously closed at $29.57.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a report on Friday, October 4th. Benchmark reissued a “buy” rating and set a $50.00 price target on shares of Surgery Partners in a research report on Monday, August 26th. KeyCorp initiated coverage on Surgery Partners in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. UBS Group initiated coverage on shares of Surgery Partners in a research report on Monday, October 14th. They issued a “buy” rating and a $38.00 price target for the company. Finally, StockNews.com lowered shares of Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, Surgery Partners has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Institutional Trading of Surgery Partners

Several institutional investors have recently added to or reduced their stakes in SGRY. Janus Henderson Group PLC increased its stake in shares of Surgery Partners by 7,987.1% in the first quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock valued at $74,701,000 after buying an additional 2,473,282 shares during the period. Deerfield Management Company L.P. Series C raised its holdings in shares of Surgery Partners by 47.7% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock worth $111,986,000 after acquiring an additional 1,520,484 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Surgery Partners in the 2nd quarter valued at about $29,288,000. Victory Capital Management Inc. boosted its stake in Surgery Partners by 140.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company’s stock valued at $42,892,000 after purchasing an additional 777,038 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Surgery Partners by 26.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,801,091 shares of the company’s stock worth $66,643,000 after purchasing an additional 589,499 shares in the last quarter.

Surgery Partners Stock Down 12.2 %

The company has a market cap of $3.30 billion, a P/E ratio of -55.10, a price-to-earnings-growth ratio of 2.34 and a beta of 2.76. The stock has a fifty day moving average price of $30.99 and a two-hundred day moving average price of $28.49. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.83 and a quick ratio of 1.69.

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.