E. Ohman J or Asset Management AB Cuts Stock Holdings in 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 decreased its holdings in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 11.1% during the second quarter, according to its most recent filing with the SEC. The firm 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.

A number of other institutional investors have also added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. increased its position in Surgery Partners by 12.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company's stock valued at $91,000 after purchasing an additional 465 shares during the period. PNC Financial Services Group Inc. increased its position in 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 purchasing an additional 542 shares during the period. AlphaQuest LLC increased its position in 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 purchasing an additional 559 shares during the period. Mackenzie Financial Corp increased its position in Surgery Partners by 2.8% during the 4th quarter. Mackenzie Financial Corp now owns 21,974 shares of the company's stock valued at $465,000 after purchasing an additional 599 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Surgery Partners by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 341,702 shares of the company's stock valued at $8,115,000 after purchasing an additional 926 shares during the period.

Surgery Partners Stock Down 1.1%

Shares of Surgery Partners stock opened at $21.87 on Monday. The firm's 50 day moving average price is $22.45 and its 200-day moving average price is $22.54. The company has a quick ratio of 1.78, a current ratio of 1.93 and a debt-to-equity ratio of 1.10. Surgery Partners, Inc. has a 52-week low of $18.87 and a 52-week high of $33.90. The company has a market cap of $2.80 billion, a P/E ratio of -15.29 and a beta of 1.76.

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

Insider Activity at Surgery Partners

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 shares were 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 of the company's stock, valued at approximately $1,027,234.02. The trade was a 30.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Harrison R. Bane sold 9,339 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $22.48, for a total transaction of $209,940.72. Following the sale, the insider directly owned 117,181 shares in the company, valued at approximately $2,634,228.88. This represents a 7.38% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on SGRY. Barclays cut their target price on shares of 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. Bank of America assumed coverage on shares of Surgery Partners in a research report on Monday, July 28th. They issued a "buy" rating and a $28.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Surgery Partners currently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

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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