Wolverine Asset Management LLC Has $1.58 Million Stock Position in Surgery Partners, Inc. (NASDAQ:SGRY)

Key Points

• Wolverine Asset Management LLC increased its stake in Surgery Partners by 186.8%, acquiring an additional 43,336 shares, which brings its total ownership to 66,529 shares valued at $1.58 million.
• Several other investors, including PNC Financial Services and GAMMA Investing, also significantly increased their stakes in Surgery Partners during the first quarter.
• Analysts have set a consensus price target of $33.00 for Surgery Partners, with most ratings indicating a "Moderate Buy" sentiment.

Wolverine Asset Management LLC increased its stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 186.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,529 shares of the company's stock after buying an additional 43,336 shares during the quarter. Wolverine Asset Management LLC owned about 0.05% of Surgery Partners worth $1,580,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. boosted its position in Surgery Partners by 12.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company's stock worth $91,000 after acquiring an additional 465 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Surgery Partners by 86.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock valued at $28,000 after buying an additional 542 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Surgery Partners by 2.8% in the fourth quarter. Mackenzie Financial Corp now owns 21,974 shares of the company's stock valued at $465,000 after buying an additional 599 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Surgery Partners by 1.4% in the fourth quarter. Wells Fargo & Company MN now owns 56,931 shares of the company's stock valued at $1,205,000 after buying an additional 783 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 buying an additional 926 shares during the period.

Analysts Set New Price Targets

Several analysts have recently weighed in on SGRY shares. Benchmark restated a "buy" rating and issued a $35.00 price objective on shares of Surgery Partners in a report on Monday, April 21st. Bank of America started coverage on Surgery Partners in a report on Monday, July 28th. They issued a "buy" rating and a $28.00 price objective for the company. Finally, Barclays cut their price objective on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating for the company in a report on Tuesday, May 27th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.00.

Surgery Partners Stock Up 1.8%

Surgery Partners stock traded up $0.42 during mid-day trading on Friday, hitting $23.64. The company's stock had a trading volume of 1,704,277 shares, compared to its average volume of 1,743,413. The firm's 50 day moving average is $22.16 and its 200 day moving average is $22.98. The company 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, Inc. has a 52-week low of $18.87 and a 52-week high of $33.97.

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 the consensus estimate of $0.16 by $0.01. The firm had revenue of $826.20 million during the quarter, compared to the consensus estimate of $816.96 million. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%. The business'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 earned $0.21 EPS. On average, analysts anticipate that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Surgery Partners 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.