Nuveen LLC Invests $7.50 Million 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 acquired a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 315,630 shares of the company's stock, valued at approximately $7,496,000. Nuveen LLC owned approximately 0.25% of Surgery Partners as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. grew its holdings in Surgery Partners by 12.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company's stock valued at $91,000 after buying an additional 465 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Surgery Partners by 86.4% in the 1st 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 during the last quarter. Mackenzie Financial Corp grew its holdings in Surgery Partners by 2.8% in the 4th quarter. Mackenzie Financial Corp now owns 21,974 shares of the company's stock valued at $465,000 after buying an additional 599 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Surgery Partners by 1.4% in the 4th quarter. Wells Fargo & Company MN now owns 56,931 shares of the company's stock valued at $1,205,000 after buying an additional 783 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Surgery Partners by 0.3% in 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 buying an additional 926 shares during the last quarter.

Insider Activity

In other Surgery Partners news, Director Teresa Deluca sold 20,018 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $22.74, for a total value of $455,209.32. Following the completion of the sale, the director directly owned 45,173 shares in the company, valued at $1,027,234.02. This represents a 30.71% decrease in their ownership of the stock. 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 company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on SGRY. Bank of America began coverage on Surgery Partners in a report on Monday, July 28th. They issued a "buy" rating and a $28.00 target price on the stock. Barclays lowered their target price on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 27th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Surgery Partners Trading Down 0.4%

Shares of SGRY traded down $0.09 during trading hours on Friday, hitting $22.63. 826,920 shares of the stock traded hands, compared to its average volume of 1,402,177. The business has a fifty day moving average of $22.29 and a 200-day moving average of $22.83. The firm has a market capitalization of $2.90 billion, a PE ratio of -15.83 and a beta of 1.82. The company has a current ratio of 1.93, a quick ratio of 1.78 and a debt-to-equity ratio of 1.10. Surgery Partners, Inc. has a 1-year low of $18.87 and a 1-year high of $33.90.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, beating 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 business had revenue of $826.20 million during the quarter, compared to the consensus estimate of $816.96 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The firm's revenue was up 8.4% on a year-over-year basis. Analysts expect that Surgery Partners, Inc. will post 0.67 EPS for the current year.

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.