King Street Capital Management LP recently announced the acquisition of new stake in Surgery Partners Inc. (NASDAQ:SGRY). The institutional investor has increased its shareholding in the Healthcare company by 90.84% to 1.91 million shares with purchase of 0.91 million shares. This fresh investment now brings its stake to 3.78% valued currently at $25.58 million. In addition, Fidelity Management & Research Co… raised its holdings by 0.4 million to 1.35 million shares. And The Vanguard Group, Inc. has lifted its position by 4.37% or 54149.0 shares – to 1.29 million shares.
With over 0.71 million Surgery Partners Inc. (SGRY) shares trading Monday and a closing price of $11.77 on the day, the dollar volume was approximately $8.33 million. The shares have shown a positive weekly performance of 12.42% and its price on 07/06/20 gained nearly 5.28%. Currently, there are 48.47M common shares owned by the public and among those 23.74M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for SGRY have a consensus price objective of $14.40. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $14.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Surgery Partners Inc. stock is 1.70 for the next 12 months. The average price target is 22.41% above its last price level and an upside to the estimated low will see the stock gain 15.93% over that period. But an upside of 21.53% will see the stock hit the forecast high price target while mean target price for the stock is $14.00.
Insiders at the company have transacted a total of 23 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 561,380 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 14,756 shares.
The top 3 mutual fund holders in Surgery Partners Inc. are ClearBridge Small Cap Growth Fund, Fidelity Select Health Care Servi, and NN Equity Investment Fund. ClearBridge Small Cap Growth Fund owns 2.28 million shares of the company’s stock, all valued at over $30.54 million. The company sold 28080.0 shares recently to bring their total holdings to about 4.51% of the shares outstanding. Fidelity Select Health Care Servi sold 87700.0 shares to see its total holdings shrink to 1.26 million shares valued at over $16.89 million and representing 2.49% of the shares outstanding. NN Equity Investment Fund bought 28898.0 shares to bring its total holdings to over 0.9 million shares at a value of $12.08 million. NN Equity Investment Fund now owns shares totaling to 1.78% of the shares outstanding.
Shares of Surgery Partners Inc. (NASDAQ: SGRY) opened at $11.47, up $0.29 from a prior closing price of $11.18. However, the script later closed the day at $11.77, up 5.28%. The company’s stock has a 5-day price change of 12.42% and 145.21% over the past three months. SGRY shares are trading -24.82% year to date (YTD), with the 12-month market performance up to 48.99% higher. It has a 12-month low price of $4.00 and touched a high of $19.74 over the same period. Currently, 0.71 million shares have been traded, compared to an average intraday trading volume of 1.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.68%, -3.03%, and -1.55% respectively.
Institutional ownership of Surgery Partners Inc. (NASDAQ: SGRY) shares accounts for 98.80% of the company’s 48.47M shares outstanding. Mutual fund holders own 20.64%, while other institutional holders and individual stakeholders account for 25.33% and 167.13% respectively.
It has a market capitalization of $615.92M and a beta (3y monthly) value of 3.43. The stock’s earnings-per-share (ttm) stands at -$2.70. The company has a Quick Ratio of 1.40 with the debt-to-equity ratio at 11.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.13% over the week and 9.24% over the month.
Analysts forecast that Surgery Partners Inc. (SGRY) will achieve an EPS of -$1 for the current quarter, -$0.31 for the next quarter and -$0.35 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.47 while analysts give the company a high EPS estimate of -$0.73. Comparatively, EPS for the current quarter was -$0.29 a year ago. Earnings per share for the fiscal year are expected to increase by 53.80%, and 76.20% over the next financial year. EPS over the next five years should compared to -10.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Surgery Partners Inc. (SGRY) as a “Strong Buy” at a consensus score of 1.70. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SGRY, a number of firms have released research notes about the stock. The Benchmark Company stated their Buy rating for the stock in a research note on April 27, 2020, with the firm’s price target at $14. The Benchmark Company coverage for the Surgery Partners Inc. (SGRY) stock in a research note released on March 03, 2020 offered a Hold rating with a price target of . The Benchmark Company was of a view on January 14, 2020 that the stock is Buy, while UBS gave the stock Neutral rating on November 16, 2018 $15. BofA/Merrill on their part issued Buy rating on September 18, 2018.