Legal & General Group Plc Purchases Shares of 71,702 Surgery Partners, Inc. $SGRY

Key Points

• Legal & General Group Plc acquired 71,702 shares of Surgery Partners worth approximately $1.2 million, representing about 0.05% of the company. Several other institutional investors, including Janus Henderson, Pentwater Capital and UBS, also increased their positions.
• Analysts maintain a generally positive outlook, with seven Buy ratings, three Holds and one Sell. Surgery Partners has a consensus rating of “Moderate Buy” and an average price target of $19.45.
• The company exceeded quarterly expectations, reporting $0.10 in adjusted earnings per share versus a $0.06 estimate and revenue of $848.9 million, up 2.7% year over year. However, it posted a negative net margin of 2.63%.

Legal & General Group Plc purchased a new stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 71,702 shares of the company's stock, valued at approximately $1,205,000. Legal & General Group Plc owned about 0.05% of Surgery Partners at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Surgery Partners by 3.8% in the fourth quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company's stock worth $209,162,000 after purchasing an additional 501,401 shares during the last quarter. Pentwater Capital Management LP raised its holdings in Surgery Partners by 66.9% during the 3rd quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company's stock valued at $252,777,000 after buying an additional 4,681,000 shares during the last quarter. BlackRock Inc. purchased a new stake in Surgery Partners during the 2nd quarter valued at $104,857,000. Dimensional Fund Advisors LP grew its holdings in Surgery Partners by 7.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company's stock worth $63,131,000 after acquiring an additional 389,831 shares during the last quarter. Finally, UBS Group AG grew its holdings in Surgery Partners by 50.6% in the 3rd quarter. UBS Group AG now owns 3,690,922 shares of the company's stock worth $79,872,000 after acquiring an additional 1,239,549 shares during the last quarter.

Insider Activity

In related news, Director Teresa DeLuca purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average price of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the director owned 66,843 shares in the company, valued at approximately $959,197.05. The trade was a 17.59% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SGRY. Raymond James Financial set a $18.00 price objective on Surgery Partners in a research report on Tuesday, August 11th. Benchmark reiterated a "buy" rating on shares of Surgery Partners in a report on Tuesday, August 11th. TD Cowen boosted their price objective on shares of Surgery Partners from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $18.00 price objective on shares of Surgery Partners in a report on Tuesday, August 11th. Finally, Zacks Research cut shares of Surgery Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.45.

Surgery Partners Stock Performance

SGRY opened at $14.26 on Monday. The company has a 50 day simple moving average of $15.40 and a two-hundred day simple moving average of $14.36. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78. The firm has a market cap of $1.87 billion, a P/E ratio of -20.37, a PEG ratio of 4.40 and a beta of 1.92. Surgery Partners, Inc. has a 1-year low of $11.41 and a 1-year high of $23.44.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The company had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. During the same quarter in the prior year, the firm posted $0.17 EPS. Surgery Partners's quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts forecast that Surgery Partners, Inc. will post 0.22 earnings per share for the current fiscal year.

Surgery Partners 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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