Legal & General Group Plc purchased a new stake in Surgery Partners, Inc. (NASDAQ:SGRY – Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 71,702 shares of the company’s stock, valued at approximately $1,205,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Irenic Capital Management LP grew its stake in Surgery Partners by 740.2% during the 1st quarter. Irenic Capital Management LP now owns 711,000 shares of the company’s stock valued at $8,475,000 after purchasing an additional 626,380 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Surgery Partners by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company’s stock valued at $63,131,000 after purchasing an additional 389,831 shares during the period. Hsbc Holdings PLC raised its stake in shares of Surgery Partners by 104.2% in the fourth quarter. Hsbc Holdings PLC now owns 1,931,577 shares of the company’s stock worth $30,151,000 after purchasing an additional 985,748 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Surgery Partners in the second quarter worth about $104,857,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of Surgery Partners by 435.0% during the first quarter. Quantinno Capital Management LP now owns 82,520 shares of the company’s stock worth $984,000 after purchasing an additional 67,095 shares during the period.
Insider Activity
In other Surgery Partners news, Director Teresa DeLuca purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were purchased at an average cost of $14.35 per share, with a total value of $143,500.00. Following the completion of the purchase, the director owned 66,843 shares in the company, valued at approximately $959,197.05. This represents a 17.59% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.
Surgery Partners Price Performance
Surgery Partners (NASDAQ:SGRY – Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $848.90 million for the quarter, compared to the consensus estimate of $830.03 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. On average, analysts expect that Surgery Partners, Inc. will post 0.22 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages recently weighed in on SGRY. Royal Bank Of Canada cut their price target on shares of Surgery Partners from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Benchmark restated a “buy” rating on shares of Surgery Partners in a research note on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Surgery Partners in a report on Tuesday, August 11th. Raymond James Financial set a $18.00 target price on shares of Surgery Partners in a research report on Tuesday, August 11th. Finally, TD Cowen upped their price target on shares of Surgery Partners from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.45.
View Our Latest Analysis on Surgery Partners
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.
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