The Manufacturers Life Insurance Company Purchases Shares of 653,470 Surgery Partners, Inc. $SGRY

The Manufacturers Life Insurance Company bought a new stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 653,470 shares of the company’s stock, valued at approximately $10,978,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in Surgery Partners in the second quarter worth about $470,000. BlackRock Inc. acquired a new position in shares of Surgery Partners in the 2nd quarter worth approximately $104,857,000. Deutsche Bank AG bought a new position in shares of Surgery Partners during the 2nd quarter worth approximately $1,495,000. Bank of New York Mellon Corp acquired a new stake in Surgery Partners in the 2nd quarter valued at $5,379,000. Finally, State of Wyoming bought a new position in shares of Surgery Partners during the second quarter valued at $262,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SGRY shares. Zacks Research lowered shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Surgery Partners in a research note on Friday, August 21st. Royal Bank Of Canada lowered their target price on Surgery Partners from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 price target on shares of Surgery Partners in a research report on Tuesday, August 11th. Finally, Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a research note 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.45.

Surgery Partners Stock Performance

Shares of NASDAQ:SGRY opened at $13.69 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.78 and a debt-to-equity ratio of 1.18. Surgery Partners, Inc. has a 1-year low of $11.41 and a 1-year high of $23.44. The stock has a market capitalization of $1.79 billion, a P/E ratio of -19.56, a P/E/G ratio of 4.22 and a beta of 1.91. The business has a 50-day moving average price of $15.49 and a two-hundred day moving average price of $14.38.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The business had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. During the same period in the previous year, the firm posted $0.17 earnings per share. Surgery Partners’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts predict that Surgery Partners, Inc. will post 0.22 earnings per share for the current year.

Insider Activity

In other Surgery Partners news, Director Teresa Deluca acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average price of $14.35 per share, for a total transaction of $143,500.00. Following the acquisition, the director directly owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. This trade represents a 17.59% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

About Surgery Partners

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.