UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 117,876 Shares of Surgery Partners, Inc. $SGRY

Key Points

• UBS Asset Management cut its Surgery Partners stake by 7.4%, selling 117,876 shares and retaining 1.47 million shares valued at approximately $24.7 million, or 1.12% of the company.
• Surgery Partners reported quarterly adjusted earnings of $0.10 per share, beating estimates by $0.04, while revenue of $848.9 million exceeded forecasts and rose 2.7% year over year.
• Analyst sentiment remains moderately bullish, with seven Buy ratings, three Holds and one Sell; the average price target is $19.45 versus the reported share price of $14.17. A company director also purchased 10,000 shares at $14.35 each.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,471,492 shares of the company's stock after selling 117,876 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.12% of Surgery Partners worth $24,721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SGRY. State of Wisconsin Investment Board lifted its position in Surgery Partners by 0.4% in the 4th quarter. State of Wisconsin Investment Board now owns 151,504 shares of the company's stock valued at $2,341,000 after acquiring an additional 668 shares in the last quarter. ProShare Advisors LLC boosted its stake in Surgery Partners by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 14,135 shares of the company's stock valued at $218,000 after purchasing an additional 909 shares during the last quarter. California State Teachers Retirement System increased its holdings in Surgery Partners by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 65,091 shares of the company's stock worth $1,447,000 after purchasing an additional 1,021 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Surgery Partners by 4.5% in the fourth quarter. Sanctuary Advisors LLC now owns 28,488 shares of the company's stock worth $440,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Surgery Partners by 11.0% in the first quarter. Empowered Funds LLC now owns 12,853 shares of the company's stock worth $305,000 after purchasing an additional 1,278 shares during the last quarter.

Surgery Partners Stock Performance

Shares of SGRY stock opened at $14.17 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -20.24, a P/E/G ratio of 4.31 and a beta of 1.92. Surgery Partners, Inc. has a 52 week low of $11.41 and a 52 week high of $23.44. The firm's 50-day simple moving average is $15.43 and its two-hundred day simple moving average is $14.37.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The business had revenue of $848.90 million for the quarter, compared to the consensus estimate of $830.03 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The company's revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Surgery Partners, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling at Surgery Partners

In other Surgery Partners news, Director Teresa DeLuca bought 10,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were acquired at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the purchase, the director directly owned 66,843 shares of the company's stock, valued at $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SGRY shares. Raymond James Financial set a $18.00 target price on Surgery Partners in a report on Tuesday, August 11th. Benchmark reissued a "buy" rating on shares of Surgery Partners in a research report on Tuesday, August 11th. Weiss Ratings restated a "sell (e+)" rating on shares of Surgery Partners in a research note on Friday, August 21st. Royal Bank Of Canada cut their price objective on shares of Surgery Partners from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. Finally, TD Cowen upped their target price on shares of Surgery Partners from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.45.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.

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