Allianz Asset Management GmbH Buys Shares of 17,700 Surgery Partners, Inc. (NASDAQ:SGRY)

Key Points

• Allianz Asset Management GmbH acquired 17,700 shares of Surgery Partners, Inc. valued at approximately $420,000 in the first quarter.
• Recent analyst ratings show an average rating of "Moderate Buy" for Surgery Partners, with a consensus target price of $33.33.
• Surgery Partners reported an 8.2% year-over-year increase in quarterly revenue, totaling $776 million, although it missed earnings expectations, reporting $0.04 EPS against a consensus of $0.08.

Allianz Asset Management GmbH bought a new position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 17,700 shares of the company's stock, valued at approximately $420,000.

Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in shares of Surgery Partners by 110.2% during the fourth quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock valued at $244,616,000 after buying an additional 6,057,477 shares during the period. King Street Capital Management L.P. grew its stake in Surgery Partners by 93.1% in the fourth quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company's stock worth $59,276,000 after purchasing an additional 1,350,000 shares during the period. Point72 Asset Management L.P. grew its stake in Surgery Partners by 224.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company's stock worth $36,975,000 after purchasing an additional 1,208,639 shares during the period. Norges Bank purchased a new stake in Surgery Partners in the fourth quarter worth $15,796,000. Finally, Dimensional Fund Advisors LP grew its stake in Surgery Partners by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,577,861 shares of the company's stock worth $75,739,000 after purchasing an additional 563,812 shares during the period.

Surgery Partners Price Performance

NASDAQ SGRY traded down $0.09 during trading on Wednesday, hitting $22.05. 525,036 shares of the stock traded hands, compared to its average volume of 1,392,547. The company has a market capitalization of $2.83 billion, a P/E ratio of -14.41 and a beta of 1.82. The firm has a 50-day simple moving average of $22.16 and a 200-day simple moving average of $22.91. The company has a quick ratio of 1.73, a current ratio of 1.89 and a debt-to-equity ratio of 1.09. Surgery Partners, Inc. has a 12-month low of $18.87 and a 12-month high of $33.97.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.04). The company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $777.77 million. Surgery Partners had a negative net margin of 6.10% and a positive return on equity of 2.41%. Surgery Partners's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. As a group, analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Bank of America began coverage on Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 target price on the stock. Benchmark reaffirmed a "buy" rating and set a $35.00 price target on shares of Surgery Partners in a report on Monday, April 21st. Finally, Barclays lowered their target price on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.33.

Surgery Partners Company Profile

Surgery Partners, Inc, together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.