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

Surgery Partners, Inc. (NASDAQ:SGRY) shares were down 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 traded hands during mid-day trading, a decline of 93% from the average daily volume of 932,245 shares. The stock had previously closed at $29.57.

Several other equities analysts have also recently weighed in on the company. UBS Group started coverage on Surgery Partners in a research report on Monday, October 14th. They issued a “buy” rating and a $38.00 price target for the company. Benchmark reissued a “buy” rating and issued a $50.00 price target on shares of Surgery Partners in a report on Monday, August 26th. StockNews.com cut shares of Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. KeyCorp began coverage on shares of Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $49.00 price target on shares of Surgery Partners in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.00.

Institutional Investors Weigh In On Surgery Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Surgery Partners by 3.1% during the 3rd quarter. FMR LLC now owns 18,311,867 shares of the company’s stock valued at $590,375,000 after purchasing an additional 546,869 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Surgery Partners by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 772,746 shares of the company’s stock valued at $24,913,000 after acquiring an additional 38,810 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Surgery Partners in the third quarter worth about $627,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Surgery Partners during the 3rd quarter valued at approximately $2,129,000. Finally, Pathstone Holdings LLC boosted its stake in Surgery Partners by 30.9% in the 3rd quarter. Pathstone Holdings LLC now owns 57,347 shares of the company’s stock worth $1,849,000 after purchasing an additional 13,534 shares during the period.

Surgery Partners Stock Performance

The company has a market capitalization 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 company has a quick ratio of 1.69, a current ratio of 1.83 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average of $30.99 and a 200 day moving average of $28.49.

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.