Bank of America Corp DE Acquires 613,505 Shares of Surgery Partners, Inc. $SGRY

Bank of America Corp DE boosted its holdings in Surgery Partners, Inc. (NASDAQ:SGRY) by 97.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,239,982 shares of the company’s stock after acquiring an additional 613,505 shares during the quarter. Bank of America Corp DE’s holdings in Surgery Partners were worth $14,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pentwater Capital Management LP raised its stake in Surgery Partners by 66.9% during the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock worth $252,777,000 after acquiring an additional 4,681,000 shares in the last quarter. UBS Group AG boosted its stake in shares of Surgery Partners by 111.4% in the 4th quarter. UBS Group AG now owns 7,803,974 shares of the company’s stock valued at $120,571,000 after purchasing an additional 4,113,052 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Surgery Partners by 528.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,959,686 shares of the company’s stock valued at $30,277,000 after purchasing an additional 1,647,714 shares in the last quarter. Glenview Capital Management LLC bought a new stake in shares of Surgery Partners during the 2nd quarter valued at approximately $33,995,000. Finally, Dimensional Fund Advisors LP increased its position in Surgery Partners by 25.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,860,215 shares of the company’s stock worth $105,177,000 after purchasing an additional 988,956 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen increased their price objective on shares of Surgery Partners from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Zacks Research cut shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Benchmark reiterated a “buy” rating on shares of Surgery Partners in a report on Tuesday, August 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Surgery Partners in a report on Tuesday, May 26th. Finally, Raymond James Financial set a $18.00 price objective on Surgery Partners in a report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.45.

Insider Buying and Selling

In other news, Director Teresa Deluca acquired 10,000 shares of Surgery Partners stock in a transaction on Tuesday, August 18th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $959,197.05. The trade was a 17.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Surgery Partners Stock Up 4.2%

Shares of NASDAQ SGRY opened at $14.52 on Friday. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18. The firm has a market cap of $1.90 billion, a PE ratio of -20.74, a P/E/G ratio of 3.78 and a beta of 1.91. The company’s fifty day simple moving average is $15.57 and its 200 day simple moving average is $14.39. Surgery Partners, Inc. has a 12-month low of $11.41 and a 12-month high of $23.79.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The company had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. During the same period last year, the business posted $0.17 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Surgery Partners, Inc. will post 0.25 earnings per share for the current fiscal year.

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.