6,241,503 Shares in Surgery Partners, Inc. $SGRY Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 6.24 million shares of Surgery Partners in the second quarter, worth approximately $104.9 million and representing a 4.77% stake.
• Several other institutional investors increased their positions, while director Teresa Deluca purchased 10,000 shares at $14.35; insiders now own 2% of the company.
• Surgery Partners beat quarterly earnings and revenue estimates, but its stock opened at $13.69 after declining 1.7%. Analysts maintain a “Moderate Buy” consensus with an average price target of $19.45.

BlackRock Inc. acquired a new position in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,241,503 shares of the company's stock, valued at approximately $104,857,000. BlackRock Inc. owned 4.77% of Surgery Partners at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. UBS Group AG boosted its holdings in shares of Surgery Partners by 111.4% during the fourth quarter. UBS Group AG now owns 7,803,974 shares of the company's stock worth $120,571,000 after purchasing an additional 4,113,052 shares during the period. Dimensional Fund Advisors LP increased its stake in Surgery Partners by 7.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company's stock valued at $63,131,000 after buying an additional 389,831 shares during the period. Irenic Capital Management LP increased its stake in Surgery Partners by 740.2% in the 1st quarter. Irenic Capital Management LP now owns 711,000 shares of the company's stock valued at $8,475,000 after buying an additional 626,380 shares during the period. Hsbc Holdings PLC lifted its position in Surgery Partners by 104.2% in the 4th quarter. Hsbc Holdings PLC now owns 1,931,577 shares of the company's stock worth $30,151,000 after buying an additional 985,748 shares in the last quarter. Finally, Clearline Capital LP purchased a new stake in Surgery Partners in the 4th quarter worth approximately $3,088,000.

Insider Activity

In related news, Director Teresa Deluca acquired 10,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average price of $14.35 per share, with a total value of $143,500.00. Following the acquisition, the director owned 66,843 shares in the company, 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 SEC, which can be accessed through this link. Company insiders own 2.00% of the company's stock.

Surgery Partners Stock Down 1.7%

SGRY stock opened at $13.69 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.78 and a debt-to-equity ratio of 1.18. Surgery Partners, Inc. has a 1 year low of $11.41 and a 1 year high of $23.44. The company has a fifty day simple moving average of $15.49 and a 200 day simple moving average of $14.38. The firm has a market cap of $1.79 billion, a PE ratio of -19.56, a PEG ratio of 4.22 and a beta of 1.91.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The firm had revenue of $848.90 million for the quarter, compared to the consensus estimate of $830.03 million. During the same period in the prior year, the business posted $0.17 earnings per share. The business's quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that Surgery Partners, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SGRY has been the topic of several research analyst reports. Benchmark restated a "buy" rating on shares of Surgery Partners in a report on Tuesday, August 11th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Surgery Partners in a report on Friday, August 21st. TD Cowen lifted their price objective on Surgery Partners from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Jefferies Financial Group restated a "buy" rating and issued a $17.00 target price on shares of Surgery Partners in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada dropped their target price on Surgery Partners from $20.00 to $19.00 and set an "outperform" rating on the stock in a research 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 assigned a Sell rating to the company's stock. According to MarketBeat, Surgery Partners has an average rating of "Moderate Buy" and an average price target of $19.45.

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.

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