Fmr LLC Sells 2,030,004 Shares of Surgery Partners, Inc. (NASDAQ:SGRY)

FMR LLC lessened its position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,281,863 shares of the company's stock after selling 2,030,004 shares during the period. FMR LLC owned about 12.81% of Surgery Partners worth $344,687,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SGRY. Envestnet Asset Management Inc. boosted its stake in Surgery Partners by 17.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 32,707 shares of the company's stock valued at $692,000 after purchasing an additional 4,954 shares during the last quarter. Wells Fargo & Company MN raised its position in Surgery Partners by 1.4% in the 4th quarter. Wells Fargo & Company MN now owns 56,931 shares of the company's stock worth $1,205,000 after buying an additional 783 shares during the last quarter. ExodusPoint Capital Management LP boosted its holdings in shares of Surgery Partners by 686.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 182,300 shares of the company's stock valued at $3,859,000 after acquiring an additional 159,131 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Surgery Partners by 277.1% in the fourth quarter. Headlands Technologies LLC now owns 21,017 shares of the company's stock worth $445,000 after acquiring an additional 15,443 shares during the period. Finally, Cannell & Spears LLC bought a new stake in shares of Surgery Partners in the fourth quarter worth approximately $324,000.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SGRY shares. Macquarie dropped 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 started coverage on Surgery Partners in a research note on Monday, December 16th. They issued a "buy" rating and a $30.00 price target on the stock. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $35.00 price objective on shares of Surgery Partners in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Surgery Partners presently has an average rating of "Moderate Buy" and an average price target of $36.63.

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Surgery Partners Stock Performance

Shares of SGRY stock traded up $0.33 during trading hours on Monday, reaching $21.32. 907,631 shares of the company traded hands, compared to its average volume of 1,100,227. The firm has a 50-day moving average price of $23.99 and a 200 day moving average price of $24.71. The company has a market cap of $2.72 billion, a P/E ratio of -44.42, a P/E/G ratio of 19.21 and a beta of 2.40. Surgery Partners, Inc. has a 12-month low of $19.50 and a 12-month high of $33.97. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its quarterly 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 analyst estimates of $828.09 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. As a group, sell-side analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Surgery Partners

In related news, insider Marissa Brittenham sold 3,156 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the transaction, the insider now directly owns 63,408 shares of the company's stock, valued at approximately $1,527,498.72. This trade represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jason Eric Evans sold 26,520 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $25.65, for a total transaction of $680,238.00. Following the completion of the sale, the chief executive officer now owns 560,698 shares in the company, valued at approximately $14,381,903.70. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,622 shares of company stock valued at $2,717,860 over the last ninety days. 2.30% of the stock is currently owned by company insiders.

About Surgery Partners

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.