Natixis Advisors LLC Buys New Position in Surgery Partners, Inc. (NASDAQ:SGRY)

Key Points

• Natixis Advisors LLC purchased a new stake in Surgery Partners, Inc. for approximately $292,000 by acquiring 12,281 shares.
• Analysts remain optimistic about Surgery Partners, with three ratings for "hold" and six for "buy," and an average target price of $33.00.
• For the most recent quarter, Surgery Partners reported $826.20 million in revenue, exceeding analyst estimates, with earnings per share of $0.17.

Natixis Advisors LLC acquired a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,281 shares of the company's stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. LPL Financial LLC boosted its holdings in Surgery Partners by 22.4% during the 4th quarter. LPL Financial LLC now owns 16,749 shares of the company's stock valued at $355,000 after acquiring an additional 3,062 shares during the period. Wells Fargo & Company MN lifted its position in shares of Surgery Partners by 1.4% during the fourth quarter. Wells Fargo & Company MN now owns 56,931 shares of the company's stock worth $1,205,000 after purchasing an additional 783 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Surgery Partners by 17.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,707 shares of the company's stock valued at $692,000 after purchasing an additional 4,954 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Surgery Partners by 41.6% in the fourth quarter. Sterling Capital Management LLC now owns 84,065 shares of the company's stock worth $1,780,000 after purchasing an additional 24,694 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Surgery Partners by 9.3% in the fourth quarter. Barclays PLC now owns 141,094 shares of the company's stock worth $2,987,000 after purchasing an additional 11,961 shares during the last quarter.

Surgery Partners Stock Up 1.3%

Shares of SGRY traded up $0.30 during mid-day trading on Friday, hitting $22.80. The company's stock had a trading volume of 1,074,741 shares, compared to its average volume of 1,842,157. The company has a current ratio of 1.93, a quick ratio of 1.78 and a debt-to-equity ratio of 1.10. The company's 50-day moving average is $22.13 and its 200-day moving average is $22.97. Surgery Partners, Inc. has a 52-week low of $18.87 and a 52-week high of $33.97. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -15.94 and a beta of 1.82.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, topping 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 company had revenue of $826.20 million during the quarter, compared to analyst estimates of $816.96 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. Surgery Partners's revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SGRY. Benchmark reissued a "buy" rating and issued a $35.00 price objective on shares of Surgery Partners in a research report on Monday, April 21st. Bank of America started coverage on shares of Surgery Partners in a research note on Monday, July 28th. They set a "buy" rating and a $28.00 price target for the company. Finally, Barclays dropped their price objective 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Insiders Place Their Bets

In other Surgery Partners news, Director Teresa Deluca sold 20,018 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.74, for a total value of $455,209.32. Following the completion of the transaction, the director directly owned 45,173 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.

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.