Zacks Investment Research downgraded shares of Surgery Partners (NASDAQ:SGRY) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Surgery Partners, Inc. is a healthcare services company. The Company’s outpatient delivery model focused on providing solutions for surgical and related ancillary care in support of its patients and physicians. Its operating segment consists of Surgical Facility Services segment, Ancillary Services segment and Optical Services segment. Surgery Partners, Inc. is based in Nashville, Tennessee. “

SGRY has been the subject of several other reports. Royal Bank of Canada reissued a buy rating and set a $23.00 price target on shares of Surgery Partners in a report on Thursday, August 6th. UBS Group cut their price target on shares of Surgery Partners from $19.00 to $17.50 and set a neutral rating for the company in a report on Monday, July 27th. Benchmark lifted their price target on shares of Surgery Partners from $23.00 to $28.00 and gave the company a buy rating in a report on Thursday, September 17th. Bank of America lifted their price target on shares of Surgery Partners from $21.50 to $25.00 and gave the company a buy rating in a report on Thursday, September 17th. Finally, TheStreet raised shares of Surgery Partners from a d+ rating to a c- rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Surgery Partners currently has a consensus rating of Buy and a consensus target price of $23.08.

Shares of Surgery Partners stock opened at $23.83 on Wednesday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.22 and a current ratio of 1.31. The firm’s 50-day simple moving average is $23.13 and its 200-day simple moving average is $17.48. Surgery Partners has a twelve month low of $4.00 and a twelve month high of $26.72. The firm has a market cap of $1.20 billion, a P/E ratio of -8.83 and a beta of 3.36.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Wednesday, November 4th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.18). Surgery Partners had a negative net margin of 5.26% and a negative return on equity of 3.23%. On average, equities analysts forecast that Surgery Partners will post -1.21 earnings per share for the current fiscal year.

In related news, Director Teresa Deluca sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $63,000.00. Following the completion of the sale, the director now directly owns 28,811 shares of the company’s stock, valued at $605,031. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SGRY. FMR LLC bought a new stake in shares of Surgery Partners during the first quarter worth approximately $6,029,000. Royal Bank of Canada raised its stake in shares of Surgery Partners by 199.9% during the first quarter. Royal Bank of Canada now owns 16,156 shares of the company’s stock worth $106,000 after buying an additional 10,769 shares during the last quarter. SG Americas Securities LLC acquired a new position in Surgery Partners during the second quarter valued at approximately $142,000. Dupont Capital Management Corp acquired a new position in Surgery Partners during the second quarter valued at approximately $758,000. Finally, Park Avenue Institutional Advisers LLC acquired a new position in shares of Surgery Partners in the second quarter valued at approximately $520,000. 96.96% of the stock is owned by institutional investors and hedge funds.

About Surgery Partners

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and related services in the United States. The company operates through three segments: Surgical Facility Services, Ancillary Services, and Optical Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.

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