Dimensional Fund Advisors LP Raises Stock Position in Surgery Partners, Inc. $SGRY

Key Points

• Dimensional Fund Advisors increased its Surgery Partners stake by 7.9% in the first quarter, adding 389,831 shares to own 5.30 million shares, or about 4.05% of the company.
• Analyst sentiment is generally positive: Surgery Partners has an average “Moderate Buy” rating and a consensus price target of $21.60, despite one sell rating.
• The stock opened at $15.40, while the company’s latest quarterly results beat expectations with an adjusted loss of $0.03 per share and revenue of $810.9 million, up 4.5% year over year.

Dimensional Fund Advisors LP grew its stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 7.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,296,411 shares of the company's stock after acquiring an additional 389,831 shares during the period. Dimensional Fund Advisors LP owned about 4.05% of Surgery Partners worth $63,131,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SGRY. Fifth Third Bancorp increased its holdings in Surgery Partners by 5,324.0% during the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company's stock worth $48,000 after purchasing an additional 3,993 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Surgery Partners by 45,640.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company's stock worth $49,000 after buying an additional 2,282 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Surgery Partners by 128.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company's stock worth $58,000 after buying an additional 1,519 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Surgery Partners during the 3rd quarter worth $121,000. Finally, Alpine Global Management LLC bought a new position in shares of Surgery Partners during the 4th quarter worth $175,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group restated a "buy" rating and set a $17.00 price target on shares of Surgery Partners in a research note on Wednesday, May 6th. Zacks Research raised shares of Surgery Partners from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 4th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Surgery Partners in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $21.60.

Surgery Partners Stock Down 3.1%

Surgery Partners stock opened at $15.40 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.86 and a debt-to-equity ratio of 1.17. The firm has a market cap of $2.01 billion, a P/E ratio of -25.67, a P/E/G ratio of 4.60 and a beta of 1.89. The business has a fifty day moving average of $15.23 and a two-hundred day moving average of $14.45. Surgery Partners, Inc. has a twelve month low of $11.41 and a twelve month high of $24.10.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.12. The business had revenue of $810.90 million for the quarter, compared to the consensus estimate of $797.69 million. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The business's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $0.04 EPS. On average, analysts forecast that Surgery Partners, Inc. will post 0.25 earnings per share for the current fiscal year.

Surgery Partners Company 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.

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