BlueCrest Capital Management Ltd purchased a new position in shares of Surgery Partners Inc (NASDAQ:SGRY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,941 shares of the company’s stock, valued at approximately $157,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Surgery Partners by 680.5% during the 2nd quarter. Royal Bank of Canada now owns 10,544 shares of the company’s stock worth $240,000 after purchasing an additional 9,193 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Surgery Partners during the 3rd quarter worth about $129,000. Aperio Group LLC acquired a new position in shares of Surgery Partners during the 4th quarter worth about $173,000. Sterling Capital Management LLC acquired a new position in shares of Surgery Partners during the 3rd quarter worth about $210,000. Finally, Phoenix Investment Adviser LLC acquired a new position in shares of Surgery Partners during the 3rd quarter worth about $744,000.
Several research firms recently weighed in on SGRY. ValuEngine downgraded shares of Surgery Partners from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded shares of Surgery Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Benchmark set a $19.00 price objective on shares of Surgery Partners and gave the company a “buy” rating in a report on Tuesday, January 30th. BidaskClub upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Jefferies Group set a $18.00 price objective on shares of Surgery Partners and gave the company a “buy” rating in a report on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.57.
Shares of Surgery Partners stock opened at $16.80 on Thursday. The company has a market cap of $826.40, a PE ratio of -10.24 and a beta of 2.10. The company has a quick ratio of 1.92, a current ratio of 1.86 and a debt-to-equity ratio of 1.59. Surgery Partners Inc has a 1-year low of $7.10 and a 1-year high of $24.05.
Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Thursday, March 1st. The company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.11). The business had revenue of $460.30 million during the quarter, compared to analyst estimates of $438.30 million. Surgery Partners had a negative net margin of 4.54% and a negative return on equity of 0.53%. The firm’s revenue was up 50.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 EPS. equities research analysts expect that Surgery Partners Inc will post -0.31 earnings per share for the current year.
Surgery Partners announced that its Board of Directors has initiated a share buyback program on Friday, December 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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About Surgery Partners
Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.
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