Surgery Partners, Inc. $SGRY Stake Increased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has increased its stake in Surgery Partners, Inc. by 24.8%, owning 597,162 shares valued at approximately $14.18 million as of its latest SEC filing.
• Research analysts currently have a consensus rating of "Moderate Buy" for Surgery Partners, with a price target of $33.00, indicating expectations for potential growth despite recent price adjustments.
• Director Teresa Deluca sold 20,018 shares of the company's stock at an average price of $22.74, reflecting a 30.71% decrease in her ownership, which has raised concerns about insider selling.

Raymond James Financial Inc. lifted its stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 24.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 597,162 shares of the company's stock after purchasing an additional 118,674 shares during the quarter. Raymond James Financial Inc. owned about 0.47% of Surgery Partners worth $14,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 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 worth $28,000 after buying an additional 542 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Surgery Partners during the 1st quarter valued at $65,000. State of Wyoming boosted its stake in Surgery Partners by 94.4% during the 4th quarter. State of Wyoming now owns 4,002 shares of the company's stock valued at $85,000 after purchasing an additional 1,943 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake 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 in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Surgery Partners by 7,902.7% during the 1st quarter. GAMMA Investing LLC now owns 8,883 shares of the company's stock valued at $211,000 after purchasing an additional 8,772 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Surgery Partners

In other news, Director Teresa Deluca sold 20,018 shares of the stock in a transaction 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 completion of the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.

Surgery Partners Price Performance

Shares of SGRY traded down $0.03 during trading hours on Monday, hitting $22.69. 1,129,767 shares of the company were exchanged, compared to its average volume of 1,578,272. The company has a market capitalization of $2.91 billion, a PE ratio of -15.87 and a beta of 1.76. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78. The firm has a fifty day simple moving average of $22.36 and a 200-day simple moving average of $22.77. Surgery Partners, Inc. has a one year low of $18.87 and a one 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 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $826.20 million during the quarter, compared to analyst estimates 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 revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $0.21 EPS. As a group, sell-side analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share 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.