BNP Paribas Financial Markets Increases Holdings in Surgery Partners, Inc. (NASDAQ:SGRY)

BNP Paribas Financial Markets boosted its stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 1,448.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 257,213 shares of the company’s stock after buying an additional 240,597 shares during the period. BNP Paribas Financial Markets’ holdings in Surgery Partners were worth $5,445,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of Surgery Partners by 66.1% during the 4th quarter. KBC Group NV now owns 3,962 shares of the company’s stock worth $84,000 after acquiring an additional 1,577 shares during the period. MeadowBrook Investment Advisors LLC increased its position in Surgery Partners by 16.6% during the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company’s stock worth $218,000 after purchasing an additional 1,460 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Surgery Partners by 279.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,762 shares of the company’s stock worth $228,000 after purchasing an additional 7,925 shares during the period. Empowered Funds LLC acquired a new position in Surgery Partners in the 4th quarter valued at about $245,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Surgery Partners in the 4th quarter valued at about $273,000.

Insider Buying and Selling at Surgery Partners

In other Surgery Partners news, CFO David T. Doherty sold 6,733 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.02, for a total value of $161,726.66. Following the completion of the transaction, the chief financial officer now owns 150,868 shares of the company’s stock, valued at $3,623,849.36. This trade represents a 4.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Marissa Brittenham sold 3,156 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $24.09, for a total value of $76,028.04. Following the sale, the insider now directly owns 63,408 shares in the company, valued at $1,527,498.72. This represents a 4.74% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SGRY. Benchmark restated a “buy” rating and set a $35.00 price target on shares of Surgery Partners in a report on Monday, April 21st. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Surgery Partners in a research note on Tuesday, March 25th. Finally, Macquarie decreased their price target on Surgery Partners from $34.00 to $33.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.75.

Surgery Partners Stock Down 1.4%

Shares of NASDAQ SGRY opened at $22.93 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $22.60 and its two-hundred day moving average is $23.32. Surgery Partners, Inc. has a 52-week low of $19.50 and a 52-week high of $33.97. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -47.77, a PEG ratio of 19.21 and a beta of 1.96.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.04). Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The firm had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $777.77 million. During the same quarter in the prior year, the firm posted $0.10 EPS. Surgery Partners’s quarterly revenue was up 8.2% compared to the same quarter last year. Research analysts predict 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.