Citigroup Inc. Decreases Stake in Surgery Partners, Inc. (NASDAQ:SGRY)

Citigroup Inc. reduced its holdings in Surgery Partners, Inc. (NASDAQ:SGRYFree Report) by 95.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,075 shares of the company’s stock after selling 21,675 shares during the period. Citigroup Inc.’s holdings in Surgery Partners were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Dimension Capital Management LLC lifted its stake in shares of Surgery Partners by 3.6% in the third quarter. Dimension Capital Management LLC now owns 167,098 shares of the company’s stock worth $4,888,000 after buying an additional 5,871 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Surgery Partners by 23.2% in the third quarter. Wellington Management Group LLP now owns 8,022,700 shares of the company’s stock worth $234,664,000 after buying an additional 1,511,396 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Surgery Partners by 5.7% in the third quarter. American Century Companies Inc. now owns 888,171 shares of the company’s stock worth $25,979,000 after buying an additional 47,935 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Surgery Partners by 18.6% in the third quarter. Deutsche Bank AG now owns 72,810 shares of the company’s stock worth $2,130,000 after buying an additional 11,412 shares in the last quarter. Finally, Comerica Bank purchased a new position in shares of Surgery Partners in the third quarter worth about $41,000.

Surgery Partners Price Performance

Shares of SGRY opened at $28.02 on Wednesday. Surgery Partners, Inc. has a 1-year low of $22.05 and a 1-year high of $45.79. The stock has a market cap of $3.55 billion, a PE ratio of -280.20 and a beta of 2.71. The firm has a 50-day simple moving average of $31.00 and a two-hundred day simple moving average of $30.18. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.71 and a quick ratio of 1.57.

Surgery Partners (NASDAQ:SGRYGet Free Report) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The business had revenue of $735.40 million during the quarter, compared to analysts’ expectations of $741.93 million. During the same period last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts forecast that Surgery Partners, Inc. will post 0.81 EPS for the current year.

Insider Activity at Surgery Partners

In related news, CEO Jason Eric Evans sold 5,780 shares of Surgery Partners stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $35.08, for a total value of $202,762.40. Following the completion of the transaction, the chief executive officer now owns 419,118 shares in the company, valued at $14,702,659.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jason Eric Evans sold 5,780 shares of Surgery Partners stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $35.08, for a total value of $202,762.40. Following the completion of the transaction, the chief executive officer now owns 419,118 shares in the company, valued at $14,702,659.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David T. Doherty sold 2,306 shares of Surgery Partners stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $31.89, for a total transaction of $73,538.34. Following the completion of the transaction, the chief financial officer now owns 75,229 shares of the company’s stock, valued at approximately $2,399,052.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,774 shares of company stock worth $608,352. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

SGRY has been the topic of a number of analyst reports. Citigroup reduced their target price on shares of Surgery Partners from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $43.00 target price on shares of Surgery Partners in a research note on Tuesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $49.00 target price on shares of Surgery Partners in a research note on Thursday, February 29th. StockNews.com raised shares of Surgery Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Finally, Barclays initiated coverage on shares of Surgery Partners in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.63.

View Our Latest Stock Report on SGRY

Surgery Partners Company Profile

(Free Report)

Surgery Partners, Inc, together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.

Further Reading

Institutional Ownership by Quarter for Surgery Partners (NASDAQ:SGRY)

Receive News & Ratings for Surgery Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surgery Partners and related companies with MarketBeat.com's FREE daily email newsletter.