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

Clearbridge Investments LLC lessened its stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,234,536 shares of the company's stock after selling 266,519 shares during the quarter. Clearbridge Investments LLC owned 3.33% of Surgery Partners worth $89,645,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. KBC Group NV lifted its position in Surgery Partners by 66.1% in the 4th quarter. KBC Group NV now owns 3,962 shares of the company's stock valued at $84,000 after acquiring an additional 1,577 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Surgery Partners by 747.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company's stock valued at $124,000 after purchasing an additional 3,379 shares in the last quarter. MeadowBrook Investment Advisors LLC lifted its holdings in shares of Surgery Partners by 16.6% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company's stock valued at $218,000 after purchasing an additional 1,460 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Surgery Partners during the fourth quarter worth about $245,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Surgery Partners during the fourth quarter worth about $273,000.

Analyst Upgrades and Downgrades

SGRY has been the topic of several research reports. Macquarie cut their target price on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $35.00 price objective on shares of Surgery Partners in a research report on Tuesday, March 25th. Finally, Bank of America assumed coverage on shares of Surgery Partners in a research report on Monday, December 16th. They issued a "buy" rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.63.

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Surgery Partners Stock Performance

Shares of SGRY traded down $1.72 during midday trading on Friday, reaching $21.11. The stock had a trading volume of 1,851,767 shares, compared to its average volume of 1,083,113. The firm has a market cap of $2.69 billion, a PE ratio of -43.98, a P/E/G ratio of 19.21 and a beta of 2.40. The firm has a 50 day simple moving average of $24.57 and a 200-day simple moving average of $25.28. Surgery Partners, Inc. has a one year low of $19.50 and a one year high of $33.97. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The company reported $0.39 EPS 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 analysts' expectations of $828.09 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. As a group, sell-side analysts anticipate that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Insider Transactions at Surgery Partners

In other Surgery Partners news, insider Harrison R. Bane sold 56,315 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $25.64, for a total transaction of $1,443,916.60. Following the completion of the sale, the insider now directly owns 107,037 shares in the company, valued at $2,744,428.68. This trade represents a 34.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David T. Doherty sold 6,733 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $24.02, for a total value of $161,726.66. Following the sale, the chief financial officer now owns 150,868 shares of the company's stock, valued at approximately $3,623,849.36. This represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 106,622 shares of company stock worth $2,717,860. 2.30% of the stock is owned by company insiders.

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.