Wellington Management Group LLP Increases Stake in Surgery Partners, Inc. $SGRY

Key Points

• Wellington Management Group LLP increased its stake in Surgery Partners, Inc. by 19.7%, owning approximately 5.53% of the company, now valued at $168.4 million.
• Surgery Partners reported a quarterly earnings per share of $0.17, surpassing analysts' expectations, with revenues of $826.2 million, a year-over-year increase of 8.4%.
• Brokerages like Bank of America initiated coverage with a "buy" rating and set a target price of $28.00, while the average consensus target price is $33.00.

Wellington Management Group LLP grew its position in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 19.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,091,756 shares of the company's stock after purchasing an additional 1,165,667 shares during the quarter. Wellington Management Group LLP owned approximately 5.53% of Surgery Partners worth $168,429,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake 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 buying an additional 6,057,477 shares in the last quarter. King Street Capital Management L.P. lifted its holdings in shares of Surgery Partners by 93.1% in the 4th quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company's stock worth $59,276,000 after acquiring an additional 1,350,000 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Surgery Partners by 224.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company's stock valued at $36,975,000 after purchasing an additional 1,208,639 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Surgery Partners in the 1st quarter valued at $13,539,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Surgery Partners by 18.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,577,861 shares of the company's stock valued at $75,739,000 after purchasing an additional 563,812 shares during the last quarter.

Surgery Partners Trading Up 3.4%

Surgery Partners stock traded up $0.78 during trading hours on Friday, reaching $23.64. The stock had a trading volume of 1,273,842 shares, compared to its average volume of 1,777,135. The company has a fifty day simple moving average of $22.13 and a 200-day simple moving average of $22.89. Surgery Partners, Inc. has a 52 week low of $18.87 and a 52 week high of $33.97. The stock has a market cap of $3.03 billion, a PE ratio of -16.53 and a beta of 1.82. 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 posted its 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 company had revenue of $826.20 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays lowered 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. Bank of America started coverage on Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Surgery Partners presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

Insiders Place Their Bets

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 in the company, valued at approximately $1,027,234.02. This trade 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. 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.