Covestor Ltd Raises Stake in Surgery Partners, Inc. (NASDAQ:SGRY)

Key Points

• Covestor Ltd increased its stake in Surgery Partners by 490.6%, now owning 13,005 shares worth $309,000 as of the latest SEC filing.
• Analysts have observed a mixed outlook for Surgery Partners, with a consensus rating of "Moderate Buy" and average price targets ranging from $24.00 to $35.00.
• Surgery Partners reported a quarterly revenue of $826.20 million, exceeding estimates, with an earnings per share of $0.17, beating the consensus by $0.01.

Covestor Ltd increased its holdings in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 490.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,005 shares of the company's stock after purchasing an additional 10,803 shares during the period. Covestor Ltd's holdings in Surgery Partners were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SGRY. PNC Financial Services Group Inc. raised its holdings in shares of Surgery Partners by 86.4% in the first 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 during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Surgery Partners during the first quarter worth $65,000. State of Wyoming raised its holdings in shares of Surgery Partners by 94.4% during 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 last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Surgery Partners by 12.1% during 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 last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Surgery Partners by 7,902.7% during 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 last quarter.

Surgery Partners Stock Up 1.8%

Shares of Surgery Partners stock traded up $0.42 during trading hours on Friday, hitting $23.64. The company had a trading volume of 1,704,277 shares, compared to its average volume of 1,743,413. The company has a market cap of $3.03 billion, a P/E ratio of -16.53 and a beta of 1.82. Surgery Partners, Inc. has a twelve month low of $18.87 and a twelve month high of $33.97. The company's 50-day moving average is $22.16 and its two-hundred day moving average is $22.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its quarterly 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. The firm had revenue of $826.20 million during the quarter, compared to analysts' expectations of $816.96 million. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. Surgery Partners's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. Analysts anticipate that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Benchmark restated a "buy" rating and set a $35.00 price target on shares of Surgery Partners in a research report on Monday, April 21st. Barclays dropped their price target on shares of Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 27th. Finally, Bank of America assumed coverage on shares of Surgery Partners in a research report on Monday, July 28th. They set a "buy" rating and a $28.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Surgery Partners presently has an average rating of "Moderate Buy" and an average price target of $33.00.

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.