Deutsche Bank AG Cuts Position in Surgery Partners, Inc. $SGRY

Key Points

• Deutsche Bank AG has reduced its stake in Surgery Partners, Inc. by 37.3%, now holding 60,556 shares worth approximately $1.44 million after selling 35,956 shares.
• Surgery Partners reported a quarterly EPS of $0.17, exceeding analysts' expectations, with revenues of $826.20 million, reflecting an 8.4% year-over-year increase.
• Analysts maintain a consensus rating of "Moderate Buy" on Surgery Partners stock, with an average price target of $33.00, despite varying ratings from institutions like Bank of America and Barclays.

Deutsche Bank AG trimmed its position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 37.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,556 shares of the company's stock after selling 35,956 shares during the period. Deutsche Bank AG's holdings in Surgery Partners were worth $1,438,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in Surgery Partners by 86.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock worth $28,000 after buying an additional 542 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Surgery Partners in the 1st quarter worth about $65,000. State of Wyoming boosted its holdings in Surgery Partners by 94.4% in the 4th quarter. State of Wyoming now owns 4,002 shares of the company's stock worth $85,000 after buying an additional 1,943 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Surgery Partners by 12.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company's stock worth $91,000 after buying an additional 465 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Surgery Partners by 7,902.7% in the 1st quarter. GAMMA Investing LLC now owns 8,883 shares of the company's stock worth $211,000 after buying an additional 8,772 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SGRY. Barclays lowered their price objective 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. Bank of America began coverage on Surgery Partners in a report on Monday, July 28th. They issued a "buy" rating and a $28.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Surgery Partners Trading Down 2.5%

SGRY traded down $0.60 during trading hours on Monday, reaching $23.04. The company's stock had a trading volume of 769,465 shares, compared to its average volume of 1,786,671. Surgery Partners, Inc. has a fifty-two week low of $18.87 and a fifty-two week high of $33.97. The stock has a market cap of $2.95 billion, a PE ratio of -16.11 and a beta of 1.82. The business's 50-day moving average is $22.13 and its 200-day moving average is $22.85. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The firm had revenue of $826.20 million for the quarter, compared to analysts' expectations of $816.96 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The firm's quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Surgery Partners news, Director Teresa Deluca sold 20,018 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $22.74, for a total value of $455,209.32. Following the sale, the director owned 45,173 shares of the company's stock, valued at $1,027,234.02. The trade was a 30.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.70% of the company's stock.

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.