Surgery Partners, Inc. $SGRY Shares Acquired by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC significantly increased its stake in Surgery Partners, owning 383,642 shares after a 715.8% increase in the first quarter.
• Analysts have given Surgery Partners an average rating of "Moderate Buy", with a price target averaging $33.00, while Bank of America rates it as a buy with a price target of $28.00.
• Surgery Partners reported a revenue of $826.20 million for the last quarter, surpassing expectations and marking an 8.4% year-over-year growth.

MetLife Investment Management LLC grew its stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 715.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,642 shares of the company's stock after buying an additional 336,615 shares during the period. MetLife Investment Management LLC owned 0.30% of Surgery Partners worth $9,111,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Surgery Partners by 7,902.7% in the 1st quarter. GAMMA Investing LLC now owns 8,883 shares of the company's stock valued at $211,000 after buying an additional 8,772 shares in the last quarter. Northern Trust Corp boosted its stake in Surgery Partners by 2.1% during the 4th quarter. Northern Trust Corp now owns 761,790 shares of the company's stock worth $16,127,000 after purchasing an additional 15,657 shares during the period. Allianz Asset Management GmbH acquired a new stake in Surgery Partners during the 1st quarter worth $420,000. Bank of New York Mellon Corp boosted its stake in 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 worth $8,115,000 after purchasing an additional 926 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Surgery Partners by 9.5% during the 1st quarter. Principal Financial Group Inc. now owns 54,266 shares of the company's stock worth $1,289,000 after purchasing an additional 4,717 shares during the period.

Analyst Ratings Changes

A number of analysts recently weighed in on SGRY shares. Bank of America started coverage on shares of 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 shares of 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Surgery Partners currently has an average rating of "Moderate Buy" and an average price target of $33.00.

Surgery Partners Stock Down 1.5%

Shares of Surgery Partners stock opened at $22.69 on Wednesday. The company has a market cap of $2.91 billion, a P/E ratio of -15.87 and a beta of 1.82. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.78 and a current ratio of 1.93. Surgery Partners, Inc. has a one year low of $18.87 and a one year high of $33.90. The firm has a fifty day moving average of $22.18 and a two-hundred day moving average of $22.85.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The company had revenue of $826.20 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. On average, analysts forecast that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Insider Buying and Selling

In other Surgery Partners news, Director Teresa Deluca sold 20,018 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $22.74, for a total transaction 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. This represents a 30.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.70% of the company's stock.

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.

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