Surgery Partners, Inc. $SGRY Shares Purchased 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 lifted its position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 715.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 383,642 shares of the company's stock after purchasing an additional 336,615 shares during the quarter. MetLife Investment Management LLC owned about 0.30% of Surgery Partners worth $9,111,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC raised its stake in shares of Surgery Partners by 112.0% in the first quarter. AlphaQuest LLC now owns 1,058 shares of the company's stock worth $25,000 after purchasing an additional 559 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Surgery Partners by 86.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock valued at $28,000 after acquiring an additional 542 shares in the last quarter. Summit Securities Group LLC purchased a new position in Surgery Partners during the first quarter valued at approximately $31,000. DekaBank Deutsche Girozentrale purchased a new position in Surgery Partners during the first quarter valued at approximately $65,000. Finally, State of Wyoming raised its position in Surgery Partners by 94.4% during the fourth quarter. State of Wyoming now owns 4,002 shares of the company's stock valued at $85,000 after acquiring an additional 1,943 shares in the last quarter.

Surgery Partners Price Performance

Shares of Surgery Partners stock traded down $0.03 on Monday, reaching $22.69. The company's stock had a trading volume of 1,129,767 shares, compared to its average volume of 1,578,272. The company has a market capitalization of $2.91 billion, a P/E ratio of -15.87 and a beta of 1.76. Surgery Partners, Inc. has a 52-week low of $18.87 and a 52-week high of $33.90. The stock has a 50-day moving average price of $22.41 and a 200-day moving average price of $22.75. 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 (NASDAQ:SGRY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates 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%.The business's revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. Analysts expect that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SGRY. Bank of America began coverage on Surgery Partners in a research report on Monday, July 28th. They set a "buy" rating and a $28.00 price target for the company. Barclays reduced their price target on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating for the company in a research report 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's stock. According to data from MarketBeat, Surgery Partners has an average rating of "Moderate Buy" and an average target price of $33.00.

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 sale, the director directly owned 45,173 shares of the company's stock, valued at $1,027,234.02. The trade was a 30.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is owned by company insiders.

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.