Nuveen LLC Acquires New Shares in Surgery Partners, Inc. $SGRY

Key Points

• Nuveen LLC acquired 315,630 shares of Surgery Partners, Inc. (SGRY) in the first quarter, representing a total investment of approximately $7.5 million, which amounts to about 0.25% ownership in the company.
• Surgery Partners posted earnings of $0.17 per share, exceeding expectations, with revenues of $826.2 million for the last quarter, which shows an 8.4% year-over-year increase.
• Research analysts have mixed ratings on SGRY, with several firms setting price targets; notably, Bank of America initiated coverage with a "buy" rating and a target of $28.00.

Nuveen LLC bought a new stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 315,630 shares of the company's stock, valued at approximately $7,496,000. Nuveen LLC owned approximately 0.25% of Surgery Partners at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SGRY. PNC Financial Services Group Inc. raised its holdings in Surgery Partners by 86.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock valued at $28,000 after buying an additional 542 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Surgery Partners during the first quarter valued at about $65,000. State of Wyoming increased its stake in shares of Surgery Partners by 94.4% in the fourth quarter. State of Wyoming now owns 4,002 shares of the company's stock worth $85,000 after purchasing an additional 1,943 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Surgery Partners by 12.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company's stock worth $91,000 after purchasing an additional 465 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Surgery Partners by 7,902.7% in the first quarter. GAMMA Investing LLC now owns 8,883 shares of the company's stock worth $211,000 after purchasing an additional 8,772 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Bank of America assumed coverage on Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 price objective on the stock. 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. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.00.

Surgery Partners Stock Performance

SGRY traded down $0.03 on Friday, hitting $22.69. 1,129,767 shares of the stock traded hands, compared to its average volume of 1,676,963. Surgery Partners, Inc. has a 52 week low of $18.87 and a 52 week high of $33.90. 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 firm has a market capitalization of $2.91 billion, a PE ratio of -15.87 and a beta of 1.82. The business has a fifty day moving average price of $22.36 and a two-hundred day moving average price of $22.79.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates 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 positive return on equity of 2.51% and a negative net margin of 5.57%.The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share. On average, research analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Insider Activity at Surgery Partners

In other news, Director Teresa Deluca sold 20,018 shares of the business'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 value of $455,209.32. Following the transaction, the director directly owned 45,173 shares of the company's stock, valued at $1,027,234.02. The trade was a 30.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by insiders.

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.