Surgery Partners Inc. (SGRY) stock surged 5.08% on Tuesday, as analysts view the recent selloff in the shares as an overreaction to the company's latest earnings report.
Following Surgery Partners' earnings release, the stock suffered a sharp decline, plunging 31% over the past five trading sessions. However, analysts at Macquarie believe this selloff is overdone and see an undervalued opportunity in the stock.
In a research note, Macquarie analyst Tao Qiu maintained a "Buy" rating on SGRY, citing the company's strong fundamentals. Qiu's bullish stance is based on the belief that Surgery Partners' business model remains intact and that the company is well-positioned to capitalize on the growing demand for surgical services.
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