Sivik Global Healthcare LLC Increases Stake in Surgery Partners, Inc. (NASDAQ:SGRY)

Sivik Global Healthcare LLC lifted its stake in Surgery Partners, Inc. (NASDAQ:SGRY) by 14.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 200,000 shares of the company’s stock after buying an additional 25,000 shares during the quarter. Surgery Partners makes up about 2.7% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 15th largest position. Sivik Global Healthcare LLC owned about 0.16% of Surgery Partners worth $6,398,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Surgery Partners by 23.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,022,700 shares of the company’s stock valued at $234,664,000 after buying an additional 1,511,396 shares in the last quarter. Clearbridge Investments LLC grew its stake in Surgery Partners by 0.8% in the third quarter. Clearbridge Investments LLC now owns 5,277,909 shares of the company’s stock worth $154,379,000 after purchasing an additional 41,557 shares in the last quarter. Invesco Ltd. increased its holdings in Surgery Partners by 9.3% during the 3rd quarter. Invesco Ltd. now owns 3,604,357 shares of the company’s stock worth $105,427,000 after purchasing an additional 305,216 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in Surgery Partners during the 3rd quarter valued at $42,705,000. Finally, American Century Companies Inc. lifted its holdings in shares of Surgery Partners by 5.7% in the 3rd quarter. American Century Companies Inc. now owns 888,171 shares of the company’s stock worth $25,979,000 after buying an additional 47,935 shares during the period.

Insider Activity

In other news, CEO Jason Eric Evans sold 5,780 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $35.08, for a total transaction of $202,762.40. Following the transaction, the chief executive officer now owns 419,118 shares in the company, valued at approximately $14,702,659.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jason Eric Evans sold 5,780 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $35.08, for a total value of $202,762.40. Following the transaction, the chief executive officer now directly owns 419,118 shares of the company’s stock, valued at approximately $14,702,659.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley R. Owens sold 1,040 shares of Surgery Partners stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $35.22, for a total value of $36,628.80. Following the completion of the sale, the insider now owns 73,149 shares in the company, valued at $2,576,307.78. The disclosure for this sale can be found here. Insiders sold 18,774 shares of company stock worth $608,352 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on SGRY shares. StockNews.com upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $43.00 price target on shares of Surgery Partners in a research report on Wednesday, April 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $49.00 price objective on shares of Surgery Partners in a research report on Thursday, February 29th. Citigroup decreased their price target on shares of Surgery Partners from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, Barclays assumed coverage on shares of Surgery Partners in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Surgery Partners has an average rating of “Moderate Buy” and a consensus target price of $43.63.

Surgery Partners Stock Performance

Surgery Partners stock traded up $0.19 during mid-day trading on Tuesday, hitting $24.95. The company had a trading volume of 807,942 shares, compared to its average volume of 891,796. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -249.50, a P/E/G ratio of 2.24 and a beta of 2.71. Surgery Partners, Inc. has a 12-month low of $22.05 and a 12-month high of $45.79. The company’s fifty day moving average is $28.30 and its 200-day moving average is $29.78. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 0.89.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Monday, February 26th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The company had revenue of $735.40 million for the quarter, compared to analyst estimates of $741.93 million. During the same quarter last year, the business earned $0.22 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Equities research analysts predict that Surgery Partners, Inc. will post 0.78 EPS for the current 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.