Why Surgery Partners Stock Plummeted on Monday
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.
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Source Fool.com
