Norges Bank Makes New Investment in Surgery Partners, Inc. (NASDAQ:SGRY)

Norges Bank acquired a new stake in Surgery Partners, Inc. (NASDAQ:SGRY) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 746,169 shares of the company’s stock, valued at approximately $15,796,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SGRY. Principal Financial Group Inc. purchased a new stake in Surgery Partners in the 3rd quarter worth about $1,469,000. King Street Capital Management L.P. bought a new stake in shares of Surgery Partners during the 3rd quarter worth approximately $46,748,000. Geode Capital Management LLC boosted its holdings in Surgery Partners by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company’s stock valued at $60,117,000 after acquiring an additional 42,897 shares during the period. AlphaCentric Advisors LLC bought a new position in Surgery Partners in the 4th quarter valued at $374,000. Finally, JPMorgan Chase & Co. increased its stake in Surgery Partners by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 189,436 shares of the company’s stock worth $6,107,000 after purchasing an additional 5,551 shares during the period.

Surgery Partners Trading Down 2.8 %

SGRY opened at $20.51 on Tuesday. Surgery Partners, Inc. has a 12 month low of $19.50 and a 12 month high of $33.97. The stock has a fifty day moving average price of $24.55 and a 200-day moving average price of $25.14. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -42.73, a PEG ratio of 19.21 and a beta of 2.40. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $864.40 million during the quarter, compared to analyst estimates of $828.09 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. As a group, equities research analysts anticipate that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO David T. Doherty sold 6,733 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $24.02, for a total transaction of $161,726.66. Following the sale, the chief financial officer now owns 150,868 shares in the company, valued at approximately $3,623,849.36. The trade was a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason Eric Evans sold 26,520 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $25.65, for a total transaction of $680,238.00. Following the completion of the transaction, the chief executive officer now directly owns 560,698 shares of the company’s stock, valued at $14,381,903.70. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,622 shares of company stock valued at $2,717,860. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Surgery Partners in a research note on Tuesday, March 25th. Bank of America began coverage on shares of Surgery Partners in a research report on Monday, December 16th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Macquarie dropped their price objective 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.63.

Surgery Partners Company 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.