Hsbc Holdings PLC Invests $48.91 Million in Surgery Partners, Inc. $SGRY

Hsbc Holdings PLC acquired a new stake in Surgery Partners, Inc. (NASDAQ:SGRY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,958,912 shares of the company’s stock, valued at approximately $48,912,000. Hsbc Holdings PLC owned approximately 2.26% of Surgery Partners at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SGRY. PNC Financial Services Group Inc. lifted its position in Surgery Partners by 239.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock worth $35,000 after purchasing an additional 2,051 shares during the period. Fifth Third Bancorp increased its position in shares of Surgery Partners by 5,324.0% during the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock valued at $48,000 after purchasing an additional 3,993 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Surgery Partners by 45,640.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after buying an additional 2,282 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Surgery Partners in the 3rd quarter worth $121,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Surgery Partners in the fourth quarter valued at $175,000.

Surgery Partners Stock Performance

Shares of NASDAQ SGRY opened at $14.04 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -20.06, a PEG ratio of 3.81 and a beta of 1.91. The stock’s fifty day simple moving average is $15.52 and its 200 day simple moving average is $14.39. Surgery Partners, Inc. has a 52-week low of $11.41 and a 52-week high of $23.44.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.Surgery Partners’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 earnings per share. As a group, sell-side analysts forecast that Surgery Partners, Inc. will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Surgery Partners in a report on Friday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 price target on shares of Surgery Partners in a report on Tuesday, August 11th. Raymond James Financial set a $18.00 price objective on shares of Surgery Partners in a research report on Tuesday, August 11th. Royal Bank Of Canada lowered their price objective on shares of Surgery Partners from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Finally, TD Cowen boosted their target price on shares of Surgery Partners from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Surgery Partners has a consensus rating of “Moderate Buy” and an average price target of $19.45.

Insider Buying and Selling

In other news, Director Teresa Deluca bought 10,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was bought at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the acquisition, the director directly owned 66,843 shares in the company, valued at $959,197.05. This represents a 17.59% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.