Clearbridge Investments LLC Sells 266,519 Shares of Surgery Partners, Inc. (NASDAQ:SGRY)

Clearbridge Investments LLC cut its stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 5.9% during the 4th quarter, HoldingsChannel reports. The firm owned 4,234,536 shares of the company’s stock after selling 266,519 shares during the period. Clearbridge Investments LLC’s holdings in Surgery Partners were worth $89,645,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SGRY. Charles Schwab Investment Management Inc. grew its stake in shares of Surgery Partners by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 772,746 shares of the company’s stock worth $24,913,000 after buying an additional 38,810 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Surgery Partners by 24.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,233 shares of the company’s stock worth $620,000 after acquiring an additional 3,729 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Surgery Partners by 747.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock worth $124,000 after acquiring an additional 3,379 shares during the last quarter. Centiva Capital LP increased its holdings in Surgery Partners by 130.5% in the 3rd quarter. Centiva Capital LP now owns 37,600 shares of the company’s stock worth $1,212,000 after purchasing an additional 21,290 shares in the last quarter. Finally, Holocene Advisors LP raised its position in Surgery Partners by 34.4% in the third quarter. Holocene Advisors LP now owns 131,504 shares of the company’s stock valued at $4,240,000 after purchasing an additional 33,680 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SGRY shares. JPMorgan Chase & Co. reduced their price target on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, December 3rd. Macquarie reduced their target price on shares of Surgery Partners from $34.00 to $33.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Bank of America initiated coverage on shares of Surgery Partners in a research note on Monday, December 16th. They set a “buy” rating and a $30.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Surgery Partners in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.63.

Insider Transactions at Surgery Partners

In other Surgery Partners news, insider Marissa Brittenham sold 3,156 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $24.09, for a total transaction of $76,028.04. Following the transaction, the insider now directly owns 63,408 shares in the company, valued at approximately $1,527,498.72. This represents a 4.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Harrison R. Bane sold 56,315 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $25.64, for a total transaction of $1,443,916.60. Following the sale, the insider now directly owns 107,037 shares of the company’s stock, valued at approximately $2,744,428.68. This trade represents a 34.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,622 shares of company stock valued at $2,717,860. Corporate insiders own 2.30% of the company’s stock.

Surgery Partners Stock Down 0.8 %

Surgery Partners stock opened at $23.75 on Tuesday. The firm has a 50 day moving average price of $24.38 and a two-hundred day moving average price of $25.48. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. Surgery Partners, Inc. has a 52-week low of $19.50 and a 52-week high of $33.97. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -49.48, a PEG ratio of 19.21 and a beta of 2.73.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, March 3rd. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $864.40 million during the quarter, compared to the consensus estimate of $828.09 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. Equities analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Surgery Partners Company Profile

Surgery Partners, Inc, together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.