Ameriprise Financial Inc. Lowers Position in Surgery Partners, Inc. (NASDAQ:SGRY)

Ameriprise Financial Inc. cut its stake in Surgery Partners, Inc. (NASDAQ:SGRY) by 97.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,570 shares of the company’s stock after selling 1,130,618 shares during the period. Ameriprise Financial Inc.’s holdings in Surgery Partners were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wells Fargo & Company MN lifted its holdings in Surgery Partners by 1.4% in the fourth quarter. Wells Fargo & Company MN now owns 56,931 shares of the company’s stock worth $1,205,000 after buying an additional 783 shares during the period. MeadowBrook Investment Advisors LLC lifted its holdings in 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 buying an additional 1,460 shares during the period. KBC Group NV lifted its holdings in shares of Surgery Partners by 66.1% during the fourth quarter. KBC Group NV now owns 3,962 shares of the company’s stock valued at $84,000 after purchasing an additional 1,577 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Surgery Partners by 1.3% during the fourth quarter. Rhumbline Advisers now owns 121,852 shares of the company’s stock valued at $2,580,000 after purchasing an additional 1,588 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Surgery Partners by 6.1% during the fourth quarter. MetLife Investment Management LLC now owns 47,027 shares of the company’s stock valued at $996,000 after purchasing an additional 2,684 shares during the last quarter.

Insiders Place Their Bets

In other Surgery Partners news, CFO David T. Doherty sold 6,733 shares of Surgery Partners stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.02, for a total value of $161,726.66. Following the completion of the sale, the chief financial officer now owns 150,868 shares of the company’s stock, valued at approximately $3,623,849.36. The trade was a 4.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Marissa Brittenham sold 3,156 shares of Surgery Partners stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the sale, the insider now directly owns 63,408 shares of the company’s stock, valued at approximately $1,527,498.72. This trade represents a 4.74% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Surgery Partners Price Performance

Shares of SGRY opened at $23.28 on Wednesday. The company has a market capitalization of $2.98 billion, a P/E ratio of -48.50, a price-to-earnings-growth ratio of 19.21 and a beta of 1.96. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $22.31 and a 200 day moving average of $22.75. Surgery Partners, Inc. has a twelve month low of $19.50 and a twelve month high of $33.97.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). The firm had revenue of $776.00 million for the quarter, compared to the consensus estimate of $777.77 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. Surgery Partners’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. As a group, equities research analysts anticipate that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SGRY has been the subject of several recent research reports. Barclays lowered their target price on shares of Surgery Partners from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 27th. Benchmark reiterated a “buy” rating and set a $35.00 target price on shares of Surgery Partners in a report on Monday, April 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Surgery Partners in a report on Tuesday, March 25th. Finally, Macquarie lowered their target price on shares of Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.56.

Surgery Partners Profile

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.