Surgery Partners, Inc. $SGRY Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Surgery Partners, Inc. (NASDAQ:SGRY) by 67.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 323,932 shares of the company’s stock after purchasing an additional 130,392 shares during the period. JPMorgan Chase & Co.’s holdings in Surgery Partners were worth $7,010,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Surgery Partners by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock worth $1,085,000 after buying an additional 2,015 shares during the last quarter. Millennium Management LLC grew its position in shares of Surgery Partners by 1,253.7% in the 1st quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock valued at $4,804,000 after buying an additional 219,806 shares during the last quarter. Empowered Funds LLC raised its stake in Surgery Partners by 11.0% during the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock worth $305,000 after acquiring an additional 1,278 shares in the last quarter. SG Americas Securities LLC raised its stake in Surgery Partners by 31.6% during the 2nd quarter. SG Americas Securities LLC now owns 10,507 shares of the company’s stock worth $234,000 after acquiring an additional 2,523 shares in the last quarter. Finally, Swiss National Bank lifted its position in Surgery Partners by 7.9% in the second quarter. Swiss National Bank now owns 146,200 shares of the company’s stock valued at $3,250,000 after acquiring an additional 10,700 shares during the last quarter.

Insiders Place Their Bets

In other news, insider Marissa Brittenham sold 3,657 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $12.54, for a total transaction of $45,858.78. Following the transaction, the insider directly owned 94,196 shares in the company, valued at $1,181,217.84. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Baldock sold 5,798 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $13.17, for a total transaction of $76,359.66. Following the transaction, the insider directly owned 326,474 shares of the company’s stock, valued at $4,299,662.58. This represents a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 96,896 shares of company stock valued at $1,284,058. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SGRY. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Surgery Partners in a report on Monday, December 29th. Cantor Fitzgerald reissued an “overweight” rating on shares of Surgery Partners in a report on Wednesday, March 4th. TD Cowen decreased their target price on Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Benchmark restated a “buy” rating on shares of Surgery Partners in a research note on Tuesday, March 3rd. Finally, Barclays cut their price target on Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.36.

Surgery Partners Price Performance

Shares of NASDAQ SGRY opened at $11.60 on Tuesday. The stock has a fifty day moving average price of $14.11 and a 200 day moving average price of $16.92. Surgery Partners, Inc. has a 1-year low of $11.41 and a 1-year high of $24.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.87 and a quick ratio of 1.71. The company has a market cap of $1.50 billion, a PE ratio of -18.71 and a beta of 1.95.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Monday, March 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.19). The firm had revenue of $885.00 million during the quarter, compared to analyst estimates of $866.54 million. Surgery Partners had a negative net margin of 2.35% and a positive return on equity of 1.28%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. Sell-side analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Surgery Partners announced that its board has authorized a share buyback plan on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Surgery Partners Company Profile

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.