E. Ohman J or Asset Management AB Sells 120,131 Shares of Surgery Partners, Inc. $SGRY

Key Points

• E. Ohman J or Asset Management AB has reduced its stake in Surgery Partners, Inc. by 11.1%, now holding 965,828 shares valued at approximately $21.47 million.
• The company's stock recently opened at $21.87, reflecting a decrease of 1.1%, and it has a 52-week trading range between $18.87 and $33.90.
• Surgery Partners exceeded earnings expectations with a reported EPS of $0.17 against an estimate of $0.16, contributing to an 8.4% year-over-year revenue increase to approximately $826.20 million.

E. Ohman J or Asset Management AB cut its holdings in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 11.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 965,828 shares of the company's stock after selling 120,131 shares during the period. E. Ohman J or Asset Management AB owned 0.75% of Surgery Partners worth $21,470,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. AlphaQuest LLC raised its stake in Surgery Partners by 112.0% in the first quarter. AlphaQuest LLC now owns 1,058 shares of the company's stock valued at $25,000 after buying an additional 559 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Surgery Partners by 86.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock worth $28,000 after purchasing an additional 542 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Surgery Partners during the first quarter worth about $31,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Surgery Partners during the first quarter worth about $65,000. Finally, State of Wyoming grew its holdings in shares of Surgery Partners by 94.4% during the fourth 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.

Insider Activity at Surgery Partners

In other news, insider Harrison R. Bane sold 9,339 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $22.48, for a total transaction of $209,940.72. Following the sale, the insider owned 117,181 shares of the company's stock, valued at $2,634,228.88. This trade represents a 7.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Teresa Deluca sold 20,018 shares of the firm'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 transaction of $455,209.32. Following 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 currently owned by insiders.

Surgery Partners Trading Down 1.1%

Shares of SGRY traded down $0.24 during trading hours on Friday, hitting $21.79. 472,628 shares of the stock were exchanged, compared to its average volume of 1,401,643. 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 current ratio of 1.93 and a quick ratio of 1.78. The business has a 50-day moving average of $22.41 and a 200-day moving average of $22.50. The firm has a market capitalization of $2.79 billion, a P/E ratio of -15.30 and a beta of 1.76.

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

Wall Street Analysts Forecast Growth

SGRY has been the topic of several research analyst reports. Barclays decreased their price target on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. JPMorgan Chase & Co. started coverage on shares of Surgery Partners in a research report on Thursday. They set a "neutral" rating and a $27.00 price target on the stock. Finally, Bank of America assumed coverage on shares of Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 price target on the stock. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $32.88.

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.