Hsbc Holdings PLC Acquires 985,748 Shares of Surgery Partners, Inc. $SGRY

Hsbc Holdings PLC increased its holdings in Surgery Partners, Inc. (NASDAQ:SGRY) by 104.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,931,577 shares of the company’s stock after acquiring an additional 985,748 shares during the quarter. Hsbc Holdings PLC’s holdings in Surgery Partners were worth $30,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Alpine Global Management LLC purchased a new position in Surgery Partners during the 4th quarter valued at $175,000. Empowered Funds LLC lifted its position in shares of Surgery Partners by 1,340.9% in the 4th quarter. Empowered Funds LLC now owns 161,419 shares of the company’s stock worth $2,494,000 after purchasing an additional 150,216 shares during the period. One68 Global Capital LLC purchased a new stake in shares of Surgery Partners in the 4th quarter worth about $371,000. Man Group plc bought a new stake in shares of Surgery Partners during the 4th quarter valued at about $5,080,000. Finally, Inspire Investing LLC increased its position in shares of Surgery Partners by 45.4% during the fourth quarter. Inspire Investing LLC now owns 30,073 shares of the company’s stock valued at $465,000 after buying an additional 9,384 shares during the period.

Surgery Partners Price Performance

SGRY opened at $15.22 on Thursday. The firm has a market cap of $1.99 billion, a PE ratio of -25.37, a P/E/G ratio of 4.34 and a beta of 1.96. The stock has a 50-day moving average price of $14.09 and a 200-day moving average price of $14.39. Surgery Partners, Inc. has a 1 year low of $11.41 and a 1 year high of $24.10. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.86 and a quick ratio of 1.69.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.12. The business had revenue of $810.90 million during the quarter, compared to analyst estimates of $797.69 million. Surgery Partners had a negative net margin of 2.28% and a positive return on equity of 1.04%. Surgery Partners’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.04 EPS. Sell-side analysts predict that Surgery Partners, Inc. will post 0.25 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several analysts have commented on SGRY shares. Royal Bank Of Canada lowered their price objective on shares of Surgery Partners from $31.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Zacks Research upgraded Surgery Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. TD Cowen dropped their price target on Surgery Partners from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Surgery Partners in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Surgery Partners in a report on Wednesday, March 4th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.18.

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.