JPMorgan Chase & Co. Acquires 5,551 Shares of Surgery Partners, Inc. (NASDAQ:SGRY)

JPMorgan Chase & Co. raised its holdings in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,436 shares of the company’s stock after acquiring an additional 5,551 shares during the quarter. JPMorgan Chase & Co. owned about 0.15% of Surgery Partners worth $6,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SGRY. Deerfield Management Company L.P. Series C raised its stake in shares of Surgery Partners by 47.7% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock valued at $111,986,000 after purchasing an additional 1,520,484 shares during the period. King Street Capital Management L.P. purchased a new position in Surgery Partners during the 3rd quarter valued at about $46,748,000. Point72 Asset Management L.P. bought a new stake in shares of Surgery Partners during the second quarter valued at about $29,288,000. Janus Henderson Group PLC lifted its holdings in shares of Surgery Partners by 27.5% in the third quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company’s stock worth $177,235,000 after buying an additional 1,184,450 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Surgery Partners by 140.4% during the third quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company’s stock valued at $42,892,000 after acquiring an additional 777,038 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SGRY. Bank of America began coverage on shares of Surgery Partners in a research note on Monday, December 16th. They issued a “buy” rating and a $30.00 target price on the stock. Macquarie reiterated an “outperform” rating and issued a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday, November 19th. UBS Group assumed coverage on Surgery Partners in a research report on Monday, October 14th. They set a “buy” rating and a $38.00 target price for the company. JPMorgan Chase & Co. lowered 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. Finally, Royal Bank of Canada cut their price objective on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.56.

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $20.23 on Thursday. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -42.15, a PEG ratio of 17.40 and a beta of 2.58. The business has a 50 day moving average of $22.46 and a 200 day moving average of $27.26. 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, Inc. has a 1-year low of $19.50 and a 1-year high of $35.29.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The business had revenue of $770.40 million during the quarter, compared to the consensus estimate of $768.99 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts predict that Surgery Partners, Inc. will post 0.71 earnings per share for the current fiscal year.

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.