Norges Bank Invests $15.80 Million in Surgery Partners, Inc. (NASDAQ:SGRY)

Norges Bank acquired a new stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 746,169 shares of the company’s stock, valued at approximately $15,796,000. Norges Bank owned about 0.59% of Surgery Partners at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SGRY. KBC Group NV raised its stake in Surgery Partners by 66.1% during the 4th quarter. KBC Group NV now owns 3,962 shares of the company’s stock valued at $84,000 after buying an additional 1,577 shares during the last quarter. MeadowBrook Investment Advisors LLC grew its holdings in shares of Surgery Partners by 16.6% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company’s stock worth $218,000 after acquiring an additional 1,460 shares during the period. Empowered Funds LLC purchased a new stake in Surgery Partners during the fourth quarter valued at $245,000. KLP Kapitalforvaltning AS bought a new position in Surgery Partners in the fourth quarter valued at about $273,000. Finally, LPL Financial LLC boosted its position in Surgery Partners by 22.4% in the fourth quarter. LPL Financial LLC now owns 16,749 shares of the company’s stock worth $355,000 after purchasing an additional 3,062 shares during the last quarter.

Insider Activity at Surgery Partners

In other Surgery Partners news, CFO David T. Doherty sold 13,641 shares of Surgery Partners stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $25.61, for a total value of $349,346.01. Following the sale, the chief financial officer now owns 108,862 shares of the company’s stock, valued at $2,787,955.82. The trade was a 11.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jason Eric Evans sold 26,520 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $25.65, for a total value of $680,238.00. Following the transaction, the chief executive officer now owns 560,698 shares of the company’s stock, valued at $14,381,903.70. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,622 shares of company stock valued at $2,717,860. Corporate insiders own 2.30% of the company’s stock.

Surgery Partners Stock Performance

NASDAQ SGRY opened at $20.51 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. Surgery Partners, Inc. has a twelve month low of $19.50 and a twelve month high of $33.97. The business has a 50-day moving average price of $24.55 and a 200-day moving average price of $25.14. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -42.73, a price-to-earnings-growth ratio of 19.21 and a beta of 2.40.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Monday, March 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $864.40 million during the quarter, compared to analyst estimates of $828.09 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. As a group, equities research analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SGRY shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Surgery Partners in a research note on Tuesday, March 25th. Bank of America started coverage on shares of Surgery Partners in a research report on Monday, December 16th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Macquarie reduced their price objective on Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.63.

About Surgery Partners

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.