1,212,766 Shares in Surgery Partners, Inc. $SGRY Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 1.21 million shares of Surgery Partners in the second quarter, worth approximately $20.4 million and representing about 0.93% of the company.
• Director Teresa DeLuca also purchased 10,000 shares, increasing her position by 17.6%; other institutional investors have recently added to their holdings as well.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $19, compared with Surgery Partners’ recent share price of $14.20. The company exceeded quarterly EPS and revenue expectations, though it continues to report a negative net margin.

Bank of America Corp DE acquired a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,212,766 shares of the company's stock, valued at approximately $20,374,000. Bank of America Corp DE owned approximately 0.93% of Surgery Partners at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SGRY. PNC Financial Services Group Inc. boosted its position in shares of Surgery Partners by 239.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company's stock worth $35,000 after buying an additional 2,051 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Surgery Partners by 5,324.0% in the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company's stock valued at $48,000 after purchasing an additional 3,993 shares during the last quarter. Alpine Global Management LLC purchased a new position in shares of Surgery Partners during the 4th quarter worth approximately $175,000. ProShare Advisors LLC increased its stake in shares of Surgery Partners by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 14,135 shares of the company's stock worth $218,000 after purchasing an additional 909 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Surgery Partners during the 2nd quarter worth approximately $262,000.

Insider Buying and Selling

In related news, Director Teresa DeLuca purchased 10,000 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were bought 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 directly owned 66,843 shares in the company, valued at approximately $959,197.05. This trade represents a 17.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

SGRY has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on Surgery Partners from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, September 14th. Benchmark reaffirmed a "buy" rating on shares of Surgery Partners in a research note on Tuesday, August 11th. TD Cowen reissued a "buy" rating and issued a $19.00 target price on shares of Surgery Partners in a research note on Friday, September 18th. Weiss Ratings reissued a "sell (e+)" rating on shares of Surgery Partners in a research note on Friday, August 21st. Finally, Royal Bank Of Canada reduced their target price 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. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Surgery Partners Price Performance

Shares of NASDAQ:SGRY opened at $14.20 on Friday. The company has a market cap of $1.86 billion, a P/E ratio of -20.29, a P/E/G ratio of 4.89 and a beta of 1.92. The business has a fifty day simple moving average of $14.71 and a 200-day simple moving average of $14.26. Surgery Partners, Inc. has a 52 week low of $11.41 and a 52 week high of $23.44. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.04. The firm had revenue of $848.90 million for the quarter, compared to analyst estimates of $830.03 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. Equities research analysts forecast that Surgery Partners, Inc. will post 0.25 EPS for the current year.

Surgery Partners Profile

Surgery Partners, Inc NASDAQ: SGRY is a healthcare services company that owns and operates a network of ambulatory surgery centers and surgical hospitals in the United States. The company works with physicians and health systems to provide outpatient and same-day surgical care in settings outside traditional hospital facilities.

Its services cover a range of specialties, including orthopedics, pain management, gastroenterology, ophthalmology, gynecology, urology and other procedural areas.

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