Wells Fargo & Company MN decreased its position in shares of Surgery Partners Inc (NASDAQ:SGRY) by 94.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,796 shares of the company’s stock after selling 473,916 shares during the period. Wells Fargo & Company MN owned about 0.05% of Surgery Partners worth $266,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citadel Advisors LLC bought a new position in Surgery Partners in the third quarter valued at approximately $129,000. Round Table Services LLC bought a new position in Surgery Partners in the third quarter valued at approximately $138,000. Voya Investment Management LLC bought a new position in Surgery Partners in the second quarter valued at approximately $222,000. Royal Bank of Canada boosted its stake in Surgery Partners by 680.5% in the second quarter. Royal Bank of Canada now owns 10,544 shares of the company’s stock valued at $240,000 after acquiring an additional 9,193 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Surgery Partners during the second quarter worth $306,000. 94.05% of the stock is owned by institutional investors.
SGRY has been the topic of a number of recent analyst reports. Bank of America cut shares of Surgery Partners from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Wednesday, November 1st. KeyCorp reissued a “hold” rating on shares of Surgery Partners in a research report on Tuesday, October 31st. Jefferies Group dropped their price objective on shares of Surgery Partners from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Zacks Investment Research lowered shares of Surgery Partners from a “hold” rating to a “strong sell” rating in a report on Saturday, November 4th. Finally, ValuEngine lowered shares of Surgery Partners from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.86.
Shares of Surgery Partners Inc (NASDAQ SGRY) traded up $0.65 during mid-day trading on Wednesday, hitting $15.20. 186,800 shares of the company traded hands, compared to its average volume of 426,199. The company has a market cap of $709.59, a P/E ratio of -33.04 and a beta of 2.47. The company has a quick ratio of 1.92, a current ratio of 2.09 and a debt-to-equity ratio of 1.56. Surgery Partners Inc has a 1-year low of $7.10 and a 1-year high of $24.05.
Surgery Partners announced that its Board of Directors has approved a stock repurchase program on Friday, December 15th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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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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