Wellington Management Group LLP Lowers Holdings in Surgery Partners, Inc. (NASDAQ:SGRY)

Wellington Management Group LLP reduced its stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 39.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,926,089 shares of the company's stock after selling 3,919,912 shares during the period. Wellington Management Group LLP owned 4.64% of Surgery Partners worth $125,455,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. King Street Capital Management L.P. bought a new stake in shares of Surgery Partners in the third quarter valued at about $46,748,000. American Century Companies Inc. raised its holdings in shares of Surgery Partners by 223.9% in the 4th quarter. American Century Companies Inc. now owns 1,399,756 shares of the company's stock valued at $29,633,000 after purchasing an additional 967,534 shares in the last quarter. Norges Bank purchased a new stake in shares of Surgery Partners in the 4th quarter worth approximately $15,796,000. Raymond James Financial Inc. purchased a new stake in shares of Surgery Partners in the 4th quarter worth approximately $10,130,000. Finally, E. Ohman J or Asset Management AB boosted its stake in shares of Surgery Partners by 40.3% during the fourth quarter. E. Ohman J or Asset Management AB now owns 1,243,111 shares of the company's stock valued at $26,317,000 after purchasing an additional 357,023 shares in the last quarter.

Surgery Partners Stock Up 3.8 %

NASDAQ SGRY traded up $0.78 during trading on Tuesday, hitting $21.29. The company's stock had a trading volume of 272,546 shares, compared to its average volume of 1,082,351. Surgery Partners, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $33.97. The company has a market cap of $2.72 billion, a PE ratio of -44.49, a P/E/G ratio of 19.21 and a beta of 2.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. The business's 50 day simple moving average is $24.55 and its 200-day simple moving average is $25.14.

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Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its 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. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The company had revenue of $864.40 million during the quarter, compared to analysts' expectations of $828.09 million. On average, equities analysts anticipate that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Insider Transactions at Surgery Partners

In other Surgery Partners news, insider Harrison R. Bane sold 56,315 shares of Surgery Partners stock in a transaction dated 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 completion of the sale, the insider now owns 107,037 shares of the company's stock, valued at approximately $2,744,428.68. The trade was a 34.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David T. Doherty sold 13,641 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $25.61, for a total value of $349,346.01. Following the completion of the transaction, the chief financial officer now directly owns 108,862 shares in the company, valued at $2,787,955.82. This represents a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,622 shares of company stock worth $2,717,860. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SGRY shares. Macquarie lowered their target price on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Bank of America assumed coverage on Surgery Partners in a research note on Monday, December 16th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Surgery Partners in a research 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 issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $36.63.

Surgery Partners 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.