Bank of America Corp DE Has $4.66 Million Stock Position in Surgery Partners, Inc. (NASDAQ:SGRY)

Bank of America Corp DE reduced its stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 60.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,276 shares of the company's stock after selling 334,759 shares during the period. Bank of America Corp DE owned 0.17% of Surgery Partners worth $4,663,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. KBC Group NV grew its position in shares of Surgery Partners by 66.1% in the fourth quarter. KBC Group NV now owns 3,962 shares of the company's stock valued at $84,000 after purchasing an additional 1,577 shares during the last quarter. MeadowBrook Investment Advisors LLC grew its position in shares of Surgery Partners by 16.6% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company's stock valued at $218,000 after purchasing an additional 1,460 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Surgery Partners by 279.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,762 shares of the company's stock valued at $228,000 after purchasing an additional 7,925 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Surgery Partners in the fourth quarter valued at about $245,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Surgery Partners in the fourth quarter valued at about $273,000.

Surgery Partners Price Performance

SGRY traded down $0.22 during midday trading on Monday, reaching $23.39. 1,031,589 shares of the company's stock were exchanged, compared to its average volume of 1,102,492. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -48.73, a price-to-earnings-growth ratio of 19.21 and a beta of 1.96. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. Surgery Partners, Inc. has a one year low of $19.50 and a one year high of $33.97. The business has a 50-day simple moving average of $22.32 and a two-hundred day simple moving average of $22.74.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.04). The business had revenue of $776.00 million for the quarter, compared to the consensus estimate of $777.77 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. As a group, research analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Insiders Place Their Bets

In related news, insider Marissa Brittenham sold 3,156 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.09, for a total value of $76,028.04. Following the completion of the transaction, the insider now owns 63,408 shares in the company, valued at $1,527,498.72. The trade was a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David T. Doherty sold 6,733 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $24.02, for a total transaction of $161,726.66. Following the completion of the transaction, the chief financial officer now owns 150,868 shares of the company's stock, valued at $3,623,849.36. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SGRY shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $35.00 price target on shares of Surgery Partners in a research report on Tuesday, March 25th. Macquarie decreased their target price on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Barclays decreased their target price on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 27th. Finally, Benchmark reissued a "buy" rating and set a $35.00 target price on shares of Surgery Partners in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $33.56.

About Surgery Partners

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.