Vanguard Group Inc. Has $116.89 Million Stake in Surgery Partners, Inc. $SGRY

Vanguard Group Inc. trimmed its holdings in Surgery Partners, Inc. (NASDAQ:SGRY) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,565,905 shares of the company’s stock after selling 48,609 shares during the period. Vanguard Group Inc. owned about 0.06% of Surgery Partners worth $116,893,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Pentwater Capital Management LP lifted its position in shares of Surgery Partners by 66.9% in the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock valued at $252,777,000 after buying an additional 4,681,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Surgery Partners by 25.5% in the third quarter. Dimensional Fund Advisors LP now owns 4,860,215 shares of the company’s stock valued at $105,177,000 after buying an additional 988,956 shares during the last quarter. UBS Group AG lifted its position in shares of Surgery Partners by 50.6% in the third quarter. UBS Group AG now owns 3,690,922 shares of the company’s stock valued at $79,872,000 after buying an additional 1,239,549 shares during the last quarter. Invesco Ltd. lifted its position in shares of Surgery Partners by 4.5% in the third quarter. Invesco Ltd. now owns 1,759,500 shares of the company’s stock valued at $38,076,000 after buying an additional 76,189 shares during the last quarter. Finally, Glenview Capital Management LLC acquired a new stake in shares of Surgery Partners in the second quarter valued at approximately $33,995,000.

Insider Transactions at Surgery Partners

In other Surgery Partners news, CFO David T. Doherty sold 14,574 shares of Surgery Partners stock in a transaction on Friday, March 6th. The stock was sold at an average price of $13.84, for a total value of $201,704.16. Following the completion of the transaction, the chief financial officer directly owned 88,803 shares of the company’s stock, valued at $1,229,033.52. The trade was a 14.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Baldock sold 10,082 shares of Surgery Partners stock in a transaction on Friday, March 6th. The shares were sold at an average price of $13.70, for a total value of $138,123.40. Following the completion of the transaction, the insider directly owned 332,272 shares of the company’s stock, valued at $4,552,126.40. This represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 96,896 shares of company stock worth $1,284,058. Corporate insiders own 2.70% of the company’s stock.

Surgery Partners Price Performance

Shares of NASDAQ SGRY opened at $13.97 on Wednesday. The stock has a market capitalization of $1.83 billion, a PE ratio of -23.28, a P/E/G ratio of 9.77 and a beta of 1.99. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.86 and a quick ratio of 1.69. The business has a fifty day moving average price of $13.24 and a two-hundred day moving average price of $15.36. Surgery Partners, Inc. has a fifty-two week low of $11.41 and a fifty-two week high of $24.18.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.12. The firm had revenue of $810.90 million during the quarter, compared to analysts’ expectations of $797.69 million. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. As a group, equities analysts predict that Surgery Partners, Inc. will post 0.1 earnings per share for the current fiscal year.

Surgery Partners declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on SGRY shares. Jefferies Financial Group reissued a “buy” rating and set a $17.00 price target on shares of Surgery Partners in a report on Wednesday, May 6th. Royal Bank Of Canada dropped their price target on Surgery Partners from $31.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. UBS Group reissued a “buy” rating on shares of Surgery Partners in a report on Wednesday, March 11th. US Capital Advisors set a $21.00 price target on Surgery Partners in a report on Wednesday, March 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Surgery Partners in a report on Wednesday, March 4th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.18.

About Surgery Partners

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.