Credit Industriel ET Commercial Acquires 61,111 Shares of Surgery Partners, Inc. $SGRY

Key Points

• Credit Industriel ET Commercial increased its stake in Surgery Partners by 33.4%, acquiring 61,111 shares, bringing its total holdings to 244,112 shares.
• Analysts have mixed opinions on Surgery Partners, with five analysts rating it a Buy, two a Hold, and one a Sell, resulting in an average price target of $31.14.
• Insider sales at Surgery Partners included Harrison R. Bane, who sold 9,339 shares, and Teresa Deluca, who sold 20,018 shares, reflecting significant reductions in their positions.

Credit Industriel ET Commercial grew its holdings in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 33.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,112 shares of the company's stock after acquiring an additional 61,111 shares during the period. Surgery Partners comprises approximately 0.5% of Credit Industriel ET Commercial's holdings, making the stock its 29th largest position. Credit Industriel ET Commercial owned about 0.19% of Surgery Partners worth $5,427,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SGRY. AlphaQuest LLC grew its position in shares of Surgery Partners by 112.0% during the 1st quarter. AlphaQuest LLC now owns 1,058 shares of the company's stock valued at $25,000 after acquiring an additional 559 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Surgery Partners by 86.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock valued at $28,000 after acquiring an additional 542 shares during the period. Summit Securities Group LLC bought a new stake in shares of Surgery Partners during the 1st quarter valued at $31,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Surgery Partners during the 1st quarter valued at $65,000. Finally, GAMMA Investing LLC grew its position in shares of Surgery Partners by 7,902.7% during the 1st quarter. GAMMA Investing LLC now owns 8,883 shares of the company's stock valued at $211,000 after acquiring an additional 8,772 shares during the period.

Analyst Upgrades and Downgrades

SGRY has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Surgery Partners in a research report on Thursday, September 18th. They set a "neutral" rating and a $27.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Surgery Partners in a research report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $36.00 target price on shares of Surgery Partners in a report on Tuesday, October 7th. Finally, Bank of America started coverage on shares of Surgery Partners in a report on Monday, July 28th. They issued a "buy" rating and a $28.00 target price for the company. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Surgery Partners currently has an average rating of "Moderate Buy" and an average price target of $31.14.

Insider Buying and Selling at Surgery Partners

In other Surgery Partners news, insider Harrison R. Bane sold 9,339 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $22.48, for a total value of $209,940.72. Following the sale, the insider owned 117,181 shares in the company, valued at $2,634,228.88. The trade was a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Deluca sold 20,018 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $22.74, for a total transaction of $455,209.32. Following the completion of the sale, the director owned 45,173 shares in the company, valued at approximately $1,027,234.02. The trade was a 30.71% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Surgery Partners Trading Up 0.3%

Shares of Surgery Partners stock opened at $19.79 on Tuesday. The company has a market capitalization of $2.54 billion, a P/E ratio of -13.84 and a beta of 1.83. Surgery Partners, Inc. has a fifty-two week low of $18.87 and a fifty-two week high of $33.37. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.78 and a current ratio of 1.93. The company has a fifty day moving average of $22.08 and a 200 day moving average of $22.13.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $826.20 million for the quarter, compared to analysts' expectations of $816.96 million. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. On average, sell-side analysts anticipate that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

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.

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