Raymond James Financial Inc. Boosts Stock Position in Surgery Partners, Inc. $SGRY

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. boosted its position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 24.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 597,162 shares of the company's stock after purchasing an additional 118,674 shares during the period. Raymond James Financial Inc. owned about 0.47% of Surgery Partners worth $14,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC boosted its position in Surgery Partners by 110.2% in the fourth quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock worth $244,616,000 after purchasing an additional 6,057,477 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Surgery Partners by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,577,861 shares of the company's stock worth $75,739,000 after purchasing an additional 563,812 shares during the last quarter. King Street Capital Management L.P. boosted its position in Surgery Partners by 93.1% in the fourth quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company's stock worth $59,276,000 after purchasing an additional 1,350,000 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Surgery Partners by 224.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company's stock worth $36,975,000 after purchasing an additional 1,208,639 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in Surgery Partners by 44.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 998,505 shares of the company's stock worth $21,138,000 after purchasing an additional 309,481 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Bank of America assumed coverage on Surgery Partners in a research report on Monday, July 28th. They issued a "buy" rating and a $28.00 target price on the stock. Barclays decreased 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.00.

Surgery Partners Price Performance

NASDAQ:SGRY traded down $0.07 during trading hours on Wednesday, reaching $22.51. The stock had a trading volume of 1,381,467 shares, compared to its average volume of 1,487,585. The stock has a market capitalization of $2.89 billion, a PE ratio of -15.74 and a beta of 1.76. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.78 and a current ratio of 1.93. The company has a 50 day moving average price of $22.46 and a two-hundred day moving average price of $22.75. Surgery Partners, Inc. has a 52 week low of $18.87 and a 52 week high of $33.90.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The firm had revenue of $826.20 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the business earned $0.21 EPS. As a group, sell-side analysts anticipate that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Activity at Surgery Partners

In other news, Director Teresa Deluca sold 20,018 shares of Surgery Partners 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 completion of the transaction, the director owned 45,173 shares in the company, valued at approximately $1,027,234.02. The trade was a 30.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company's stock.

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.