Hsbc Holdings PLC Sells 14,797 Shares of Surgery Partners, Inc. $SGRY

Key Points

• Hsbc Holdings PLC has reduced its stake in Surgery Partners, Inc. (SGRY) by 54.4%, now owning 12,385 shares valued at $295,000 after selling off 14,797 shares.
• Several institutional investors have made significant changes to their holdings, with PNC Financial Services Group boosting their stake by 86.4% in the first quarter.
• Analysts maintain a Moderate Buy consensus on the stock, with an average price target of $33.00, despite some price adjustments made by firms like Barclays.

Hsbc Holdings PLC cut its holdings in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 54.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,385 shares of the company's stock after selling 14,797 shares during the quarter. Hsbc Holdings PLC's holdings in Surgery Partners were worth $295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SGRY. Janus Henderson Group PLC lifted its position in Surgery Partners by 110.2% during the 4th 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. grew its stake in 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 valued at $59,276,000 after buying an additional 1,350,000 shares during the last quarter. Point72 Asset Management L.P. grew its stake in 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 buying an additional 1,208,639 shares during the last quarter. Wellington Management Group LLP grew its stake in Surgery Partners by 19.7% in the 1st quarter. Wellington Management Group LLP now owns 7,091,756 shares of the company's stock valued at $168,429,000 after buying an additional 1,165,667 shares during the last quarter. Finally, Alpine Associates Management Inc. acquired a new position in Surgery Partners in the 1st quarter valued at about $13,539,000.

Insider Buying and Selling at Surgery Partners

In other news, Director Teresa Deluca sold 20,018 shares of the company's stock in a transaction that occurred 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 sale, the director owned 45,173 shares of the company's stock, valued at approximately $1,027,234.02. This represents a 30.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.70% of the company's stock.

Surgery Partners Stock Performance

Shares of NASDAQ:SGRY traded up $0.15 on Friday, reaching $22.51. 1,035,308 shares of the company's stock were exchanged, compared to its average volume of 1,316,687. The company has a fifty day moving average of $22.48 and a 200-day moving average of $22.68. Surgery Partners, Inc. has a twelve month low of $18.87 and a twelve month high of $33.90. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -15.74 and a beta of 1.76. The company has a current ratio of 1.93, a quick ratio of 1.78 and a debt-to-equity ratio of 1.10.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. The firm had revenue of $826.20 million for the quarter, compared to analyst estimates of $816.96 million. During the same quarter in the prior year, the business posted $0.21 EPS. The business's revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SGRY. Barclays decreased their price target on shares of Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. Bank of America initiated coverage on shares of Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 price target on the stock. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.