SG Americas Securities LLC Purchases 549,945 Shares of Surgery Partners, Inc. $SGRY

SG Americas Securities LLC raised its position in Surgery Partners, Inc. (NASDAQ:SGRY) by 3,229.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 566,976 shares of the company’s stock after acquiring an additional 549,945 shares during the period. SG Americas Securities LLC owned approximately 0.44% of Surgery Partners worth $8,760,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Pentwater Capital Management LP lifted its holdings in shares of Surgery Partners by 66.9% in the 3rd quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock worth $252,777,000 after purchasing an additional 4,681,000 shares in the last quarter. Glenview Capital Management LLC acquired a new stake in Surgery Partners in the 2nd quarter valued at $33,995,000. UBS Group AG increased its stake in Surgery Partners by 50.6% during the 3rd quarter. UBS Group AG now owns 3,690,922 shares of the company’s stock valued at $79,872,000 after purchasing an additional 1,239,549 shares in the last quarter. King Street Capital Management L.P. raised its holdings in Surgery Partners by 24.5% during the second quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company’s stock worth $138,382,000 after buying an additional 1,225,000 shares during the last quarter. Finally, Norges Bank acquired a new position in Surgery Partners during the second quarter worth $26,609,000.

Surgery Partners Price Performance

SGRY opened at $11.60 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.87 and a quick ratio of 1.71. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -18.71 and a beta of 1.95. The firm’s fifty day moving average price is $14.11 and its two-hundred day moving average price is $16.92. Surgery Partners, Inc. has a 1 year low of $11.41 and a 1 year high of $24.18.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, March 2nd. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.19). Surgery Partners had a negative net margin of 2.35% and a positive return on equity of 1.28%. The firm had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $866.54 million. During the same quarter in the prior year, the company earned $0.44 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts anticipate that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Surgery Partners declared that its board has authorized a stock buyback program on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Surgery Partners news, insider Jennifer Baldock sold 5,798 shares of Surgery Partners stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $13.17, for a total transaction of $76,359.66. Following the transaction, the insider owned 326,474 shares of the company’s stock, valued at $4,299,662.58. This trade represents a 1.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Danielle Burkhalter sold 3,469 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $12.83, for a total value of $44,507.27. Following the completion of the transaction, the insider owned 76,864 shares in the company, valued at $986,165.12. The trade was a 4.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 96,896 shares of company stock worth $1,284,058 in the last ninety days. 2.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. US Capital Advisors set a $21.00 price objective on shares of Surgery Partners in a report on Wednesday, March 11th. Mizuho lowered their target price on shares of Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Barclays dropped their price target on shares of Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. TD Cowen cut their price target on Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Surgery Partners in a report on Wednesday, March 4th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.36.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.