Surgery Partners Inc (NASDAQ:SGRY) stock has reached a 52-week low, touching down at $21.33, as the company faces a tumultuous market environment. According to InvestingPro data, technical indicators suggest the stock is in oversold territory, while the company maintains a solid revenue growth of ~10% over the last twelve months. This latest price point marks a significant downturn for the healthcare services provider, which has seen its stock value decrease by 34.82% over the past year. Investors are closely monitoring the stock as it navigates through operational and sector-specific headwinds, with the hope that the company's strategic initiatives may eventually steer it back towards a path of growth and recovery. While current metrics indicate the stock is undervalued according to InvestingPro analysis, it's worth noting that 10 analysts have recently revised their earnings expectations downward for the upcoming period. Discover more insights and 8 additional ProTips for SGRY through the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Surgery Partners has seen several adjustments to its stock price target by various investment firms. RBC Capital revised the target to $35, maintaining an Outperform rating, while TD Cowen reduced the target to $32, retaining a Buy rating. Global investment firm Jefferies also revised its price target for Surgery Partners downward to $40, maintaining a Buy rating on the stock. Barclays (LON:BARC), on the other hand, reduced its price target from $32 to $31, maintaining an Equalweight rating.
These revisions come in the wake of Surgery Partners' recent third-quarter performance, where the company reported a robust net revenue increase of 14% year-over-year to $770 million and adjusted EBITDA rising by 22% to $128.6 million. Despite challenges such as Hurricane Helene, the company maintained operational continuity and witnessed growth in surgical case volume and same-facility net revenues.
The company has also reported a 53% increase in total joint replacements and the successful recruitment of over 230 new physicians. Looking ahead, Surgery Partners anticipates full-year net revenue and adjusted EBITDA to exceed $3.075 billion and $508 million, respectively. These recent developments highlight Surgery Partners' resilience and adaptability in the face of challenges.
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