88,977 Shares in Surgery Partners, Inc. $SGRY Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG acquired 88,977 shares of Surgery Partners during the second quarter, worth approximately $1.5 million and representing 0.07% of the company. Other institutions, including UBS and Irenic Capital, also increased their positions.
• Director Teresa Deluca purchased 10,000 shares for $143,500, increasing her ownership by 17.6%; insiders collectively own 2.0% of the stock.
• Surgery Partners exceeded quarterly earnings and revenue estimates, reporting EPS of $0.10 and revenue of $848.9 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $19.45, despite shares opening at $13.69.

Deutsche Bank AG bought a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 88,977 shares of the company's stock, valued at approximately $1,495,000. Deutsche Bank AG owned 0.07% of Surgery Partners as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. UBS Group AG raised its holdings 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 buying an additional 4,113,052 shares during the period. Irenic Capital Management LP boosted its holdings 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 acquiring an additional 626,380 shares during the period. Dimensional Fund Advisors LP grew its position 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 acquiring an additional 389,831 shares in the last quarter. Hsbc Holdings PLC grew 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 valued at $30,151,000 after acquiring an additional 985,748 shares in the last quarter. Finally, Clearline Capital LP purchased a new stake in Surgery Partners during the fourth quarter worth about $3,088,000.

Insider Buying and Selling at Surgery Partners

In other news, Director Teresa Deluca acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average cost of $14.35 per share, with a total value of $143,500.00. Following the transaction, the director owned 66,843 shares in the company, valued at approximately $959,197.05. This trade represents a 17.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company's stock.

Surgery Partners Stock Down 1.7%

Shares of NASDAQ:SGRY opened at $13.69 on Friday. The firm's 50 day moving average price is $15.49 and its 200 day moving average price is $14.38. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -19.56, a price-to-earnings-growth ratio of 4.22 and a beta of 1.91. Surgery Partners, Inc. has a fifty-two week low of $11.41 and a fifty-two 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. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The company had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The firm's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that Surgery Partners, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Raymond James Financial set a $18.00 price target on shares of Surgery Partners in a research report on Tuesday, August 11th. Benchmark reaffirmed a "buy" rating on shares of Surgery Partners in a research note on Tuesday, August 11th. Jefferies Financial Group reiterated a "buy" rating and set a $17.00 target price on shares of Surgery Partners in a report on Wednesday, May 6th. TD Cowen raised their price target on shares of Surgery Partners from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $18.00 price target on shares of Surgery Partners in a research note 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.45.

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.

Want to see what other hedge funds are holding SGRY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Surgery Partners, Inc. (NASDAQ:SGRY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source