Surgery Partners, Inc. $SGRY Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Surgery Partners, Inc. by 2.9% in the first quarter, holding approximately 0.58% of the company's stock valued at $17.57 million after selling 21,975 shares.
• Director Teresa Deluca sold 20,018 shares of Surgery Partners for $455,209, representing a 30.71% decrease in their ownership of the stock.
• Barclays lowered its target price for Surgery Partners from $25.00 to $24.00, while Bank of America initiated coverage with a "buy" rating and a $28.00 target, indicating mixed analyst sentiment.

Northern Trust Corp cut its stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 739,815 shares of the company's stock after selling 21,975 shares during the quarter. Northern Trust Corp owned about 0.58% of Surgery Partners worth $17,571,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Surgery Partners by 7,902.7% in the first quarter. GAMMA Investing LLC now owns 8,883 shares of the company's stock valued at $211,000 after purchasing an additional 8,772 shares during the period. Allianz Asset Management GmbH purchased a new position in Surgery Partners in the first quarter valued at about $420,000. Bank of New York Mellon Corp raised its position in Surgery Partners by 0.3% in the first 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. Principal Financial Group Inc. raised its position in Surgery Partners by 9.5% in the first quarter. Principal Financial Group Inc. now owns 54,266 shares of the company's stock valued at $1,289,000 after purchasing an additional 4,717 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Surgery Partners in the first quarter valued at about $447,000.

Surgery Partners Stock Up 0.7%

Shares of SGRY traded up $0.15 during midday trading on Friday, hitting $22.51. The company had a trading volume of 1,035,308 shares, compared to its average volume of 1,283,239. The company's 50 day moving average price is $22.48 and its 200 day moving average price is $22.66. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -15.74 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 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 issued its quarterly 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 for 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%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 earnings per share. On average, equities research analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Insider Activity at Surgery Partners

In other news, Director Teresa Deluca sold 20,018 shares of the business's 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 completion of the sale, the director directly owned 45,173 shares in the company, valued at approximately $1,027,234.02. The trade was a 30.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on SGRY. Barclays cut their price objective on 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. Bank of America assumed coverage on Surgery Partners in a report on Monday, July 28th. They issued a "buy" rating and a $28.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Surgery Partners has a consensus rating of "Moderate Buy" and a consensus 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.