Essex Investment Management Co. LLC Acquires Shares of 22,828 Surgery Partners Inc. (SGRY)
Essex Investment Management Co. LLC purchased a new stake in Surgery Partners Inc. (NASDAQ:SGRY) during the second quarter, Holdings Channel reports. The fund purchased 22,828 shares of the company’s stock, valued at approximately $409,000.
Other large investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Surgery Partners by 3.9% in the first quarter. Royal Bank of Canada now owns 9,634 shares of the company’s stock valued at $129,000 after buying an additional 366 shares during the last quarter. Bellevue Group AG bought a new stake in Surgery Partners during the first quarter worth approximately $133,000. BlackRock Inc. boosted its stake in Surgery Partners by 3.8% in the first quarter. BlackRock Inc. now owns 17,116 shares of the company’s stock worth $227,000 after buying an additional 632 shares in the last quarter. Geode Capital Management LLC boosted its stake in Surgery Partners by 1.5% in the first quarter. Geode Capital Management LLC now owns 140,338 shares of the company’s stock worth $1,860,000 after buying an additional 2,103 shares in the last quarter. Finally, State Street Corp boosted its stake in Surgery Partners by 21.7% in the first quarter. State Street Corp now owns 219,801 shares of the company’s stock worth $2,915,000 after buying an additional 39,142 shares in the last quarter. 38.32% of the stock is currently owned by institutional investors.
Surgery Partners Inc. (NASDAQ:SGRY) traded down 1.85% during midday trading on Friday, hitting $19.58. The company had a trading volume of 63,987 shares. Surgery Partners Inc. has a 52 week low of $11.76 and a 52 week high of $22.32. The stock has a market capitalization of $950.22 million and a PE ratio of 105.84. The stock has a 50 day moving average price of $19.30 and a 200-day moving average price of $16.61.
Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Tuesday, August 9th. The company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. The business earned $289.70 million during the quarter, compared to analyst estimates of $275.99 million. Surgery Partners had a return on equity of 18.80% and a net margin of 2.63%. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities analysts predict that Surgery Partners Inc. will post $0.63 EPS for the current year.
A number of equities research analysts have recently commented on the company. Barclays PLC assumed coverage on Surgery Partners in a research note on Wednesday, July 13th. They issued an “equal weight” rating and a $20.00 target price on the stock. Zacks Investment Research cut Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Jefferies Group reissued a “buy” rating and issued a $27.00 target price on shares of Surgery Partners in a research note on Wednesday, August 10th. Finally, KeyCorp assumed coverage on Surgery Partners in a research note on Thursday, June 9th. They issued an “overweight” rating and a $21.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $22.44.
In other news, VP Jennifer Baldock sold 2,500 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $19.20, for a total value of $48,000.00. Following the completion of the transaction, the vice president now directly owns 66,983 shares of the company’s stock, valued at approximately $1,286,073.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 7.10% of the stock is owned by insiders.
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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