Corebridge Financial Inc. Lowers Stock Holdings in Surgery Partners, Inc. $SGRY

Corebridge Financial Inc. lowered its holdings in Surgery Partners, Inc. (NASDAQ:SGRY) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,624 shares of the company’s stock after selling 558 shares during the period. Corebridge Financial Inc.’s holdings in Surgery Partners were worth $894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AlphaQuest LLC grew its position in shares of Surgery Partners by 112.0% in the first quarter. AlphaQuest LLC now owns 1,058 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Surgery Partners by 86.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company’s stock valued at $28,000 after purchasing an additional 542 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Surgery Partners in the first quarter valued at $31,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Surgery Partners in the first quarter valued at $65,000. Finally, State of Wyoming grew its position in shares of Surgery Partners by 94.4% in the fourth 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.

Analyst Upgrades and Downgrades

SGRY has been the topic of a number of research analyst reports. Barclays reduced their target price on Surgery Partners from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 27th. Bank of America initiated coverage on Surgery Partners in a report on Monday, July 28th. They issued a “buy” rating and a $28.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Surgery Partners currently has an average rating of “Moderate Buy” and an average price target of $33.00.

Insider Activity at Surgery Partners

In other Surgery Partners news, Director Teresa Deluca sold 20,018 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $22.74, for a total transaction of $455,209.32. Following the transaction, the director owned 45,173 shares in the company, valued at $1,027,234.02. The trade was a 30.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Surgery Partners Price Performance

Shares of Surgery Partners stock opened at $22.51 on Friday. Surgery Partners, Inc. has a twelve month low of $18.87 and a twelve month high of $33.90. The stock has a market capitalization of $2.89 billion, a P/E ratio of -15.74 and a beta of 1.76. The company has a current ratio of 1.93, a quick ratio of 1.78 and a debt-to-equity ratio of 1.10. The business’s fifty day moving average price is $22.48 and its 200 day moving average price is $22.70.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $826.20 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. As a group, research analysts anticipate that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

About Surgery Partners

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.