Bank of New York Mellon Corp increased its stake in Surgery Partners Inc. (NASDAQ:SGRY) by 45.0% during the second quarter, Holdings Channel reports. The firm owned 72,605 shares of the company’s stock after buying an additional 22,540 shares during the period. Bank of New York Mellon Corp owned approximately 0.15% of Surgery Partners worth $1,300,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Stonerise Capital Management LLC acquired a new stake in Surgery Partners during the first quarter worth $5,304,000. 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. Bellevue Group AG acquired a new stake in Surgery Partners during the first quarter worth $133,000. 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, TimesSquare Capital Management LLC boosted its stake in Surgery Partners by 55.7% in the first quarter. TimesSquare Capital Management LLC now owns 1,975,000 shares of the company’s stock worth $26,189,000 after buying an additional 706,300 shares in the last quarter. Institutional investors and hedge funds own 38.32% of the company’s stock.
Surgery Partners Inc. (NASDAQ:SGRY) traded up 2.39% on Wednesday, reaching $20.15. The company’s stock had a trading volume of 84,225 shares. The stock’s 50 day moving average price is $19.35 and its 200 day moving average price is $16.71. Surgery Partners Inc. has a 12 month low of $11.76 and a 12 month high of $22.32. The company has a market cap of $977.88 million and a P/E ratio of 108.92.
Surgery Partners (NASDAQ:SGRY) last released its earnings results on Tuesday, August 9th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Surgery Partners had a return on equity of 18.80% and a net margin of 2.63%. The firm earned $289.70 million during the quarter, compared to analysts’ expectations of $275.99 million. Surgery Partners’s revenue was up 24.4% compared to the same quarter last year. Equities research analysts forecast that Surgery Partners Inc. will post $0.63 earnings per share for the current year.
Several research firms have recently commented on SGRY. Zacks Investment Research cut Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday. Barclays PLC began coverage on Surgery Partners in a research note on Wednesday, July 13th. They issued an “equal weight” rating and a $20.00 target price for the company. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.44.
In other Surgery Partners news, VP Jennifer Baldock sold 2,500 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $19.20, for a total transaction of $48,000.00. Following the completion of the sale, the vice president now directly owns 66,983 shares in the company, valued at $1,286,073.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.10% of the company’s stock.
Surgery Partners Company Profile
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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