Vanguard Group Inc. Sells 451,691 Shares of Surgery Partners, Inc. $SGRY

Vanguard Group Inc. cut its position in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 5.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,166,713 shares of the company’s stock after selling 451,691 shares during the quarter. Vanguard Group Inc. owned approximately 5.59% of Surgery Partners worth $170,209,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Surgery Partners by 7,902.7% in the first quarter. GAMMA Investing LLC now owns 8,883 shares of the company’s stock valued at $211,000 after purchasing an additional 8,772 shares during the last quarter. Northern Trust Corp boosted its stake in Surgery Partners by 2.1% during the fourth quarter. Northern Trust Corp now owns 761,790 shares of the company’s stock worth $16,127,000 after acquiring an additional 15,657 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in Surgery Partners during the first quarter worth about $420,000. Bank of New York Mellon Corp increased its stake in Surgery Partners by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 341,702 shares of the company’s stock valued at $8,115,000 after purchasing an additional 926 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Surgery Partners by 9.5% during the 1st quarter. Principal Financial Group Inc. now owns 54,266 shares of the company’s stock valued at $1,289,000 after purchasing an additional 4,717 shares in the last quarter.

Insider Activity at Surgery Partners

In other news, Director Teresa Deluca sold 20,018 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.74, for a total value of $455,209.32. Following the completion of the sale, the director owned 45,173 shares in the company, valued at approximately $1,027,234.02. The trade was a 30.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

SGRY has been the topic of several research analyst reports. Bank of America initiated coverage on shares of Surgery Partners in a research note on Monday, July 28th. They set a “buy” rating and a $28.00 target price on the stock. Barclays dropped their price objective on Surgery Partners from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 27th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Surgery Partners Price Performance

Shares of SGRY stock opened at $23.84 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78. The company has a market capitalization of $3.06 billion, a P/E ratio of -16.67 and a beta of 1.82. The company’s 50-day simple moving average is $22.12 and its two-hundred day simple moving average is $22.94. Surgery Partners, Inc. has a one year low of $18.87 and a one year high of $33.97.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $826.20 million for the quarter, compared to the consensus estimate of $816.96 million. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. As a group, equities analysts anticipate that Surgery Partners, Inc. will post 0.67 EPS for the current year.

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.