Bank of New York Mellon Corp Boosts Position in Surgery Partners, Inc. (NASDAQ:SGRY)

Bank of New York Mellon Corp increased its position in Surgery Partners, Inc. (NASDAQ:SGRY) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 341,702 shares of the company’s stock after purchasing an additional 926 shares during the period. Bank of New York Mellon Corp owned 0.27% of Surgery Partners worth $8,115,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Surgery Partners by 110.2% during the fourth quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company’s stock valued at $244,616,000 after purchasing an additional 6,057,477 shares in the last quarter. King Street Capital Management L.P. lifted its holdings in Surgery Partners by 93.1% in the fourth quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company’s stock valued at $59,276,000 after acquiring an additional 1,350,000 shares during the period. Point72 Asset Management L.P. lifted its holdings in Surgery Partners by 224.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company’s stock valued at $36,975,000 after acquiring an additional 1,208,639 shares during the period. American Century Companies Inc. lifted its holdings in Surgery Partners by 223.9% in the fourth quarter. American Century Companies Inc. now owns 1,399,756 shares of the company’s stock valued at $29,633,000 after acquiring an additional 967,534 shares during the period. Finally, Norges Bank bought a new position in Surgery Partners in the fourth quarter valued at about $15,796,000.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Benchmark restated a “buy” rating and issued a $35.00 price target on shares of Surgery Partners in a research report on Monday, April 21st. Barclays cut their price target on Surgery Partners from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $35.00 price target on shares of Surgery Partners in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.56.

Surgery Partners Trading Down 1.3%

Shares of NASDAQ:SGRY opened at $22.06 on Wednesday. Surgery Partners, Inc. has a 12-month low of $18.87 and a 12-month high of $33.97. The business’s fifty day simple moving average is $22.41 and its 200-day simple moving average is $22.82. The company has a current ratio of 1.89, a quick ratio of 1.73 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $2.83 billion, a PE ratio of -14.42 and a beta of 1.90.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The firm had revenue of $776.00 million for the quarter, compared to analyst estimates of $777.77 million. Surgery Partners had a positive return on equity of 2.41% and a negative net margin of 6.10%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. As a group, equities research analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

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.