Northern Trust Corp Raises Stock Position in Surgery Partners, Inc. (NASDAQ:SGRY)

Northern Trust Corp lifted its position in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 761,790 shares of the company's stock after purchasing an additional 15,657 shares during the period. Northern Trust Corp owned 0.60% of Surgery Partners worth $16,127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaCentric Advisors LLC purchased a new stake in Surgery Partners in the fourth quarter worth about $374,000. JPMorgan Chase & Co. lifted its holdings in shares of Surgery Partners by 3.0% during the third quarter. JPMorgan Chase & Co. now owns 189,436 shares of the company's stock valued at $6,107,000 after purchasing an additional 5,551 shares during the last quarter. Norges Bank purchased a new position in shares of Surgery Partners during the fourth quarter valued at approximately $15,796,000. E. Ohman J or Asset Management AB lifted its holdings in shares of Surgery Partners by 40.3% during the fourth quarter. E. Ohman J or Asset Management AB now owns 1,243,111 shares of the company's stock valued at $26,317,000 after purchasing an additional 357,023 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Surgery Partners during the fourth quarter valued at approximately $245,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on SGRY. Macquarie reduced their price target on shares of Surgery Partners from $34.00 to $33.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Benchmark reissued a "buy" rating and set a $35.00 price target on shares of Surgery Partners in a research report on Monday, April 21st. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $35.00 price target on shares of Surgery Partners in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Surgery Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.75.

Insiders Place Their Bets

In other news, CFO David T. Doherty sold 6,733 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.02, for a total transaction of $161,726.66. Following the transaction, the chief financial officer now directly owns 150,868 shares in the company, valued at approximately $3,623,849.36. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marissa Brittenham sold 3,156 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.09, for a total transaction of $76,028.04. Following the sale, the insider now directly owns 63,408 shares of the company's stock, valued at $1,527,498.72. The trade was a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.30% of the company's stock.

Surgery Partners Price Performance

Surgery Partners stock traded down $0.25 during mid-day trading on Tuesday, hitting $23.36. The stock had a trading volume of 15,702 shares, compared to its average volume of 1,086,879. The firm has a market capitalization of $2.99 billion, a P/E ratio of -48.67, a P/E/G ratio of 19.21 and a beta of 1.96. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The firm's 50 day moving average is $22.56 and its 200 day moving average is $23.11. Surgery Partners, Inc. has a one year low of $19.50 and a one year high of $33.97.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.04). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The company had revenue of $776.00 million during the quarter, compared to analysts' expectations of $777.77 million. During the same quarter in the previous year, the firm earned $0.10 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal 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.