Wesbanco Bank Inc. Boosts Stake in Surgery Partners, Inc. $SGRY

Key Points

• Wesbanco Bank Inc. increased its stake in Surgery Partners, Inc. by 204.9%, acquiring 80,637 shares, bringing its total holdings to 120,000 shares valued at approximately $2.67 million.
• Surgery Partners reported earnings of $0.17 per share, exceeding analyst expectations, with revenue of $826.20 million representing an 8.4% year-over-year growth.
• Equities analysts have issued a consensus rating of "Moderate Buy" for Surgery Partners, with a target price of $33.00 based on recent evaluations.

Wesbanco Bank Inc. increased its holdings in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 204.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,000 shares of the company's stock after purchasing an additional 80,637 shares during the quarter. Wesbanco Bank Inc. owned 0.09% of Surgery Partners worth $2,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. AlphaQuest LLC grew its holdings in Surgery Partners by 112.0% in the 1st quarter. AlphaQuest LLC now owns 1,058 shares of the company's stock worth $25,000 after acquiring an additional 559 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Surgery Partners by 86.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock worth $28,000 after acquiring an additional 542 shares during the last quarter. Summit Securities Group LLC bought a new stake in Surgery Partners in the 1st quarter worth $31,000. DekaBank Deutsche Girozentrale bought a new stake in Surgery Partners in the 1st quarter worth $65,000. Finally, State of Wyoming grew its holdings in Surgery Partners by 94.4% in the 4th quarter. State of Wyoming now owns 4,002 shares of the company's stock worth $85,000 after acquiring an additional 1,943 shares during the last quarter.

Surgery Partners Stock Down 1.1%

Shares of SGRY stock opened at $21.87 on Monday. Surgery Partners, Inc. has a 12 month low of $18.87 and a 12 month high of $33.90. The stock has a market cap of $2.80 billion, a P/E ratio of -15.29 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. The company has a 50 day simple moving average of $22.45 and a two-hundred day simple moving average of $22.54.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $826.20 million during 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 revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 earnings per share. On average, research analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Bank of America began coverage on shares of Surgery Partners in a research report on Monday, July 28th. They set a "buy" rating and a $28.00 price target on the stock. Barclays dropped their target price 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. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

Insider Buying and Selling at Surgery Partners

In other Surgery Partners news, insider Harrison R. Bane sold 9,339 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $22.48, for a total transaction of $209,940.72. Following the completion of the transaction, the insider owned 117,181 shares in the company, valued at $2,634,228.88. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Teresa Deluca sold 20,018 shares of the stock in a transaction 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 transaction, the director owned 45,173 shares of the company's stock, valued at $1,027,234.02. This trade represents a 30.71% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by 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.

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