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Why Surgery Partners Stock Plummeted on Monday

TheMotleyFool

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Why Surgery Partners Stock Plummeted on MondayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Surgery Partners (NASDAQ: SGRY) had a crushingly bad day on the stock market Monday. Investors eagerly traded out of the specialty healthcare company's shares, following the latest quarterly earnings release. Ultimately the stock fell by nearly 25% in value, a dynamic sharply contrasted by the S&P 500 index's growth of 1.5%.

For its third quarter, Surgery Partners booked revenue of $821.5 million, a healthy year-over-year improvement of almost 7%. Net income not according to generally accepted accounting principles (GAAP), however, was another story. This crucial metric fell by 31% to $16.5 million, or $0.13 per share.

Image source: Getty Images.

Source Fool.com

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