Covestor Ltd Has $309,000 Stock Position 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 boosted its holdings in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 490.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,005 shares of the company's stock after acquiring an additional 10,803 shares during the quarter. Covestor Ltd's holdings in Surgery Partners were worth $309,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SGRY. Point72 Asia Singapore Pte. Ltd. increased its position in shares of 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 during the period. PNC Financial Services Group Inc. increased its position in shares of Surgery Partners by 86.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock valued at $28,000 after purchasing an additional 542 shares during the period. Mackenzie Financial Corp increased its position in shares of Surgery Partners by 2.8% during the 4th quarter. Mackenzie Financial Corp now owns 21,974 shares of the company's stock valued at $465,000 after purchasing an additional 599 shares during the period. Wells Fargo & Company MN increased its position in shares of Surgery Partners by 1.4% during the 4th quarter. Wells Fargo & Company MN now owns 56,931 shares of the company's stock valued at $1,205,000 after purchasing an additional 783 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Surgery Partners by 0.3% during 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 purchasing an additional 926 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Benchmark restated a "buy" rating and issued a $35.00 target price on shares of Surgery Partners in a report on Monday, April 21st. Bank of America assumed 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. Finally, Barclays decreased 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $33.00.

Surgery Partners Stock Up 2.4%

Shares of Surgery Partners stock traded up $0.56 during midday trading on Wednesday, hitting $23.54. The company's stock had a trading volume of 1,134,541 shares, compared to its average volume of 1,411,125. The firm has a market capitalization of $3.02 billion, a P/E ratio of -16.46 and a beta of 1.82. The stock has a 50-day simple moving average of $22.14 and a 200-day simple moving average of $23.00. The company has a quick ratio of 1.78, a current ratio of 1.93 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 $33.97.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.17 EPS 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 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%. Surgery Partners's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. As a group, sell-side analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Surgery Partners 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.