Surgery Partners, Inc. $SGRY Stake Cut by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in Surgery Partners, Inc. (NASDAQ:SGRY) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,565,905 shares of the company’s stock after selling 48,609 shares during the period. Vanguard Group Inc. owned about 5.85% of Surgery Partners worth $116,893,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Jones Financial Companies Lllp boosted its stake in Surgery Partners by 313.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock valued at $27,000 after purchasing an additional 930 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Surgery Partners by 45,640.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after acquiring an additional 2,282 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Surgery Partners by 128.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock worth $58,000 after acquiring an additional 1,519 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of Surgery Partners in the 3rd quarter worth approximately $121,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Surgery Partners in the 3rd quarter worth approximately $151,000.

Surgery Partners Trading Up 1.4%

NASDAQ:SGRY opened at $13.97 on Wednesday. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -23.28, a PEG ratio of 9.77 and a beta of 1.99. The company has a current ratio of 1.86, a quick ratio of 1.69 and a debt-to-equity ratio of 1.17. The business’s 50-day moving average price is $13.24 and its two-hundred day moving average price is $15.36. Surgery Partners, Inc. has a 1-year low of $11.41 and a 1-year high of $24.18.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. The company had revenue of $810.90 million for the quarter, compared to analyst estimates of $797.69 million. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.Surgery Partners’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share. On average, equities analysts expect that Surgery Partners, Inc. will post 0.1 earnings per share for the current year.

Surgery Partners declared that its board has authorized a share buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on SGRY. Royal Bank Of Canada lowered their price target on Surgery Partners from $31.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Surgery Partners in a research report on Wednesday, March 4th. Benchmark restated a “buy” rating on shares of Surgery Partners in a report on Tuesday, March 3rd. Jefferies Financial Group restated a “buy” rating and set a $17.00 target price on shares of Surgery Partners in a report on Wednesday, May 6th. Finally, Zacks Research upgraded Surgery Partners from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.18.

Insider Activity at Surgery Partners

In other news, insider Jennifer Baldock sold 5,798 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $13.17, for a total transaction of $76,359.66. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Danielle Burkhalter sold 3,469 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $12.83, for a total value of $44,507.27. Following the transaction, the insider owned 76,864 shares of the company’s stock, valued at approximately $986,165.12. The trade was a 4.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 96,896 shares of company stock valued at $1,284,058 over the last 90 days. Insiders own 2.70% of the company’s stock.

About Surgery Partners

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.