Wolverine Asset Management LLC Has $1.58 Million Holdings 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 lifted its position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 186.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,529 shares of the company's stock after acquiring an additional 43,336 shares during the period. Wolverine Asset Management LLC owned 0.05% of Surgery Partners worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in shares of Surgery Partners by 86.4% in the 1st 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. DekaBank Deutsche Girozentrale acquired a new stake in shares of Surgery Partners in the 1st quarter valued at about $65,000. State of Wyoming boosted its position in shares of Surgery Partners by 94.4% in the 4th quarter. State of Wyoming now owns 4,002 shares of the company's stock valued at $85,000 after purchasing an additional 1,943 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Surgery Partners by 12.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company's stock valued at $91,000 after purchasing an additional 465 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Surgery Partners by 7,902.7% in the 1st 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.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SGRY. Barclays decreased their target price on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. Bank of America began coverage on Surgery Partners in a research report on Monday, July 28th. They issued a "buy" rating and a $28.00 target price for the company. Finally, Benchmark reissued a "buy" rating and issued a $35.00 target price on shares of Surgery Partners in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.00.

Surgery Partners Stock Performance

Shares of NASDAQ SGRY traded up $0.64 during midday trading on Wednesday, hitting $23.62. 992,203 shares of the company's stock were exchanged, compared to its average volume of 1,410,433. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78. The stock's 50 day moving average price is $22.14 and its 200-day moving average price is $23.00. The firm has a market cap of $3.03 billion, a P/E ratio of -16.50 and a beta of 1.82. Surgery Partners, Inc. has a twelve month low of $18.87 and a twelve month high of $33.97.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share 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 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 firm'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 firm posted $0.21 earnings per share. Equities research analysts anticipate that Surgery Partners, Inc. will post 0.67 EPS 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.