Surgery Partners (NASDAQ:SGRY) Stock Price Breaks Below 50-Day Moving Average of $35.72

Surgery Partners, Inc. (NASDAQ:SGRY – Get Rating) fell below its 50-day moving average during Thursday’s trading. The stock has a 50-day moving average of $35.72 and is trading as low as $29.10. Shares of Surgery Partners last traded at $30.41, with volume at 262,375 shares.

SGRY has been the subject of several recent analyst reports. Benchmark raised its price target on Surgery Partners from $65.00 to $72.00 in a Wednesday, May 4 research note. Citigroup raised its target price on Surgery Partners from $61.00 to $64.00 in a Wednesday, May 4 research note. Bank of America has downgraded Surgical Partners from a ‘buy’ to a ‘neutral’ rating and lowered the target stock price from $55.00 to $36.00 in a research note from the Wednesday, June 15. Finally, upgraded Surgery Partners from a “sell” rating to a “hold” rating in a research note on Friday. Four equity research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt ratio of 1.50. The stock has a 50-day simple moving average of $35.72 and a 200-day simple moving average of $45.61. The stock has a market capitalization of $2.73 billion, a price/earnings ratio of -57.38, a PEG ratio of 8.62 and a beta of 2.80.

Surgery Partners (NASDAQ:SGRY – Get Rating) last reported quarterly earnings data on Tuesday, May 3. The company reported ($0.13) EPS for the quarter, missing analyst consensus estimates of ($0.11) by ($0.02). Surgery Partners recorded a negative net margin of 1.63% and a negative return on equity of 0.46%. The company posted revenue of $596.20 million in the quarter, versus analyst estimates of $579.58 million. During the same period last year, the company posted EPS of ($0.40). Stock analysts expect Surgery Partners, Inc. to post earnings per share of 0.1 for the current year.

Separately, insider George Goodwin sold 25,525 shares of the company in a trade that took place on Thursday, April 21. The stock was sold at an average price of $62.58, for a total value of $1,597,354.50. Following the transaction, the insider now owns 57,990 shares of the company, valued at $3,629,014.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Insiders sold 51,905 shares of the company worth $2,650,953 in the past 90 days. Company insiders own 3.30% of the company’s shares.

Several hedge funds have recently bought and sold shares of the company. Iron Triangle Partners LP acquired a new stake in Surgery Partners during the fourth quarter valued at $29,039,000. Invesco Ltd. increased its stake in Surgery Partners by 31.9% in the fourth quarter. Invesco Ltd. now owns 1,556,434 shares of the company worth $83,129,000 after acquiring an additional 376,600 shares during the period. Durable Capital Partners LP increased its stake in Surgery Partners by 20.4% during the first quarter. Durable Capital Partners LP now owns 1,918,450 shares of the company worth $105,611,000 after acquiring an additional 325,221 shares during the period. Nuveen Asset Management LLC increased its stake in Surgery Partners by 178.4% during the fourth quarter. Nuveen Asset Management LLC now owns 394,695 shares of the company worth $21,080,000 after acquiring an additional 252,933 shares during the period. Finally, Cannell & Co. increased its stake in Surgery Partners by 2,129.8% during the fourth quarter. Cannell & Co. now owns 179,500 shares of the company worth $9,587,000 after acquiring an additional 171,450 shares during the period.

About Partners Surgery (NASDAQ:SGRY)

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and ancillary services throughout the United States. The Company operates through two segments, Surgical Services and Ancillary Services. Its surgical facilities include outpatient surgery centers and surgical hospitals that provide elective surgeries in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics and pain management.

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Eleanor C. William