Hsbc Holdings PLC Increases Stake in Surgery Partners, Inc. $SGRY

Hsbc Holdings PLC lifted its position in Surgery Partners, Inc. (NASDAQ:SGRY) by 104.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,931,577 shares of the company’s stock after buying an additional 985,748 shares during the period. Hsbc Holdings PLC’s holdings in Surgery Partners were worth $30,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wisconsin Investment Board increased its position in Surgery Partners by 0.4% during the 4th quarter. State of Wisconsin Investment Board now owns 151,504 shares of the company’s stock valued at $2,341,000 after purchasing an additional 668 shares during the period. ProShare Advisors LLC increased its holdings in Surgery Partners by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 14,135 shares of the company’s stock valued at $218,000 after buying an additional 909 shares during the period. California State Teachers Retirement System raised its stake in Surgery Partners by 1.6% in the second quarter. California State Teachers Retirement System now owns 65,091 shares of the company’s stock worth $1,447,000 after buying an additional 1,021 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Surgery Partners by 4.5% in the fourth quarter. Sanctuary Advisors LLC now owns 28,488 shares of the company’s stock worth $440,000 after buying an additional 1,218 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Surgery Partners by 11.0% during the first quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock worth $305,000 after buying an additional 1,278 shares during the period.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. US Capital Advisors set a $21.00 price target on Surgery Partners in a report on Wednesday, March 11th. Zacks Research raised shares of Surgery Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 4th. UBS Group reissued a “buy” rating on shares of Surgery Partners in a research report on Wednesday, March 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Surgery Partners in a research report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.18.

Surgery Partners Price Performance

NASDAQ:SGRY opened at $17.00 on Tuesday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -28.33, a PEG ratio of 5.15 and a beta of 1.89. Surgery Partners, Inc. has a one year low of $11.41 and a one year high of $24.10. The firm’s fifty day moving average is $14.50 and its two-hundred day moving average is $14.40. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.69 and a current ratio of 1.86.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.12. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The company had revenue of $810.90 million during the quarter, compared to the consensus estimate of $797.69 million. During the same period in the previous year, the company posted $0.04 earnings per share. Surgery Partners’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts expect that Surgery Partners, Inc. will post 0.25 EPS for the current year.

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.