SG Americas Securities LLC Acquires 549,945 Shares of Surgery Partners, Inc. $SGRY

SG Americas Securities LLC grew its holdings in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 3,229.1% in the 4th quarter, HoldingsChannel reports. The firm owned 566,976 shares of the company’s stock after acquiring an additional 549,945 shares during the quarter. SG Americas Securities LLC’s holdings in Surgery Partners were worth $8,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Surgery Partners by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock worth $1,085,000 after buying an additional 2,015 shares during the last quarter. Millennium Management LLC increased its holdings in Surgery Partners by 1,253.7% during the first quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock worth $4,804,000 after buying an additional 219,806 shares during the last quarter. Empowered Funds LLC increased its holdings in Surgery Partners by 11.0% during the first quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock worth $305,000 after buying an additional 1,278 shares during the last quarter. Swiss National Bank raised its position in Surgery Partners by 7.9% in the second quarter. Swiss National Bank now owns 146,200 shares of the company’s stock worth $3,250,000 after acquiring an additional 10,700 shares during the period. Finally, Legal & General Group Plc boosted its stake in Surgery Partners by 14.1% in the second quarter. Legal & General Group Plc now owns 85,647 shares of the company’s stock valued at $1,904,000 after acquiring an additional 10,607 shares during the last quarter.

Surgery Partners Price Performance

Shares of NASDAQ:SGRY opened at $11.60 on Tuesday. The firm has a market capitalization of $1.50 billion, a PE ratio of -18.71 and a beta of 1.95. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 1.15. The company has a 50-day moving average price of $14.11 and a two-hundred day moving average price of $16.92. Surgery Partners, Inc. has a twelve month low of $11.41 and a twelve month high of $24.18.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, March 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.19). The business had revenue of $885.00 million during the quarter, compared to the consensus estimate of $866.54 million. Surgery Partners had a negative net margin of 2.35% and a positive return on equity of 1.28%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. Equities analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Surgery Partners declared that its board has authorized a share buyback plan on Thursday, February 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 9.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. TD Cowen reduced their target price on shares of Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Surgery Partners in a research note on Wednesday, March 4th. Jefferies Financial Group reissued a “buy” rating on shares of Surgery Partners in a report on Wednesday, March 4th. US Capital Advisors set a $21.00 target price on Surgery Partners in a research report on Wednesday, March 11th. Finally, Mizuho lowered their target price on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Surgery Partners currently has an average rating of “Moderate Buy” and an average target price of $23.36.

Insider Buying and Selling at Surgery Partners

In other news, insider Marissa Brittenham sold 3,657 shares of Surgery Partners stock in a transaction on Friday, March 13th. The stock was sold at an average price of $12.54, for a total value of $45,858.78. Following the completion of the transaction, the insider directly owned 94,196 shares in the company, valued at approximately $1,181,217.84. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Baldock sold 5,798 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $13.17, for a total value of $76,359.66. Following the sale, the insider owned 326,474 shares in the company, valued at approximately $4,299,662.58. The trade was a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 96,896 shares of company stock worth $1,284,058. Company insiders own 2.70% of the company’s stock.

Surgery Partners Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.