Raymond James & Associates Trims Holdings in Surgery Partners, Inc. (NASDAQ:SGRY)

Raymond James & Associates reduced its stake in Surgery Partners, Inc. (NASDAQ:SGRY) by 22.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,688 shares of the company’s stock after selling 13,500 shares during the quarter. Raymond James & Associates’ holdings in Surgery Partners were worth $1,526,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in Surgery Partners in the 2nd quarter valued at approximately $27,000. PNC Financial Services Group Inc. increased its position in shares of Surgery Partners by 85.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,033 shares of the company’s stock valued at $29,000 after buying an additional 476 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Surgery Partners by 187.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,229 shares of the company’s stock valued at $42,000 after acquiring an additional 801 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Surgery Partners during the 3rd quarter worth approximately $39,000. Finally, Comerica Bank acquired a new position in shares of Surgery Partners in the third quarter worth $41,000.

Insider Activity at Surgery Partners

In other Surgery Partners news, insider Bradley R. Owens sold 1,040 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $35.22, for a total value of $36,628.80. Following the transaction, the insider now directly owns 73,149 shares of the company’s stock, valued at $2,576,307.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bradley R. Owens sold 1,040 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $35.22, for a total value of $36,628.80. Following the completion of the sale, the insider now owns 73,149 shares in the company, valued at $2,576,307.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David T. Doherty sold 1,020 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $34.93, for a total value of $35,628.60. Following the transaction, the chief financial officer now directly owns 74,209 shares in the company, valued at $2,592,120.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,774 shares of company stock worth $608,352. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on SGRY. Royal Bank of Canada reiterated an “outperform” rating and set a $49.00 price objective on shares of Surgery Partners in a research report on Thursday, February 29th. StockNews.com upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Citigroup cut their price target on Surgery Partners from $43.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Barclays assumed coverage on Surgery Partners in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $43.00 price objective on shares of Surgery Partners in a research report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Surgery Partners currently has an average rating of “Moderate Buy” and a consensus price target of $43.63.

Surgery Partners Price Performance

SGRY stock opened at $23.42 on Friday. The company has a market cap of $2.97 billion, a PE ratio of -234.20, a price-to-earnings-growth ratio of 2.26 and a beta of 2.71. Surgery Partners, Inc. has a 12-month low of $22.05 and a 12-month high of $45.79. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 0.89. The stock has a 50-day moving average price of $29.81 and a two-hundred day moving average price of $29.91.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The firm had revenue of $735.40 million for the quarter, compared to analyst estimates of $741.93 million. During the same quarter last year, the firm posted $0.22 earnings per share. Surgery Partners’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts predict that Surgery Partners, Inc. will post 0.78 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.