Fidelity Management & Research Co 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 0.61% to 12.3 million shares with purchase of 74206.0 shares. This fresh investment now brings its stake to 13.67% valued currently at $334.35 million. In addition, ClearBridge Investments LLC raised its holdings by 49191.0 to 4.39 million shares. And The Vanguard Group, Inc. has lifted its position by 0.58% or 21373.0 shares – to 3.68 million shares.
With over 8.36 million Surgery Partners Inc. (SGRY) shares trading Monday and a closing price of $25.17 on the day, the dollar volume was approximately $210.39 million. The shares have shown a negative half year performance of -36.54% and its price on 11/21/22 lost nearly -7.77%. Currently, there are 88.91M common shares owned by the public and among those 39.31M 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: 9 analysts who have offered their price forecasts for SGRY have a consensus price objective of $52.56. The analysts have set the share’s price value over the next 12 months at a high of $69.00 and a low of $35.00. The average price target is 50.74% above its recent price level and an upside to the estimated low will see the stock gain 28.09% over that period. But an upside of 63.52% will see the stock hit the forecast high price target while median target price for the stock is $57.00.
Insiders at the company have transacted a total of 67 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 206,306 shares. Insider sales of the common stock occurred on 45 occasions, with total insider shares sold totaling 293,819 shares.
The top 3 mutual fund holders in Surgery Partners Inc. are Fidelity Balanced Fund, ClearBridge Small Cap Growth Fund, and Fidelity Select Port. – Health Ca. Fidelity Balanced Fund owns 2.65 million shares of the company’s stock, all valued at over $72.15 million. The company bought an additional 0.16 million shares recently to bring their total holdings to about 2.95% of the shares outstanding. ClearBridge Small Cap Growth Fund sold 24660.0 shares to see its total holdings shrink to 2.58 million shares valued at over $70.2 million and representing 2.87% of the shares outstanding. Fidelity Select Port. – Health Ca bought 14281.0 shares to bring its total holdings to over 2.11 million shares at a value of $57.49 million. Fidelity Select Port. – Health Ca now owns shares totaling to 2.35% of the shares outstanding.
Shares of Surgery Partners Inc. (NASDAQ: SGRY) opened at $24.52, down -$2.77 from a prior closing price of $27.29. However, the script later moved the day high at 25.80, down -7.77%. The company’s stock has a 5-day price change of -10.17% and -23.84% over the past three months. SGRY shares are trading -52.87% year to date (YTD), with the 12-month market performance down to -47.99% lower. It has a 12-month low price of $20.46 and touched a high of $63.87 over the same period. SGRY has an average intraday trading volume of 604.65K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.10%, -4.30%, and -34.46% respectively.
Institutional ownership of Surgery Partners Inc. (NASDAQ: SGRY) 88.91M shares outstanding. Mutual fund holders own 14.32%, while other institutional holders and individual stakeholders account for 35.57% and 119.34% respectively.
It has a market capitalization of $2.24B and a beta (3y monthly) value of 2.82. The earnings-per-share (ttm) stands at -$0.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.34% over the week and 8.03% over the month.
Analysts forecast that Surgery Partners Inc. (SGRY) will achieve an EPS of $0.05 for the current quarter, $0.28 for the next quarter and $0.63 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 64.90%, and 425.00% over the next financial year. EPS should grow at an annualized rate of 30.40% over the next five years, compared to -50.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Surgery Partners Inc. (SGRY) as a “Strong Buy” at a consensus score of 1.90. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 2 of the 9 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. BofA Securities stated their Neutral rating for the stock in a research note on June 15, 2022, with the firm’s price target at $55-$36. Citigroup coverage for the Surgery Partners Inc. (SGRY) stock in a research note released on January 10, 2022 offered a Buy rating with a price target of $65. Barclays was of a view on November 30, 2021 that the stock is Overweight, while Stifel gave the stock Buy rating on November 29, 2021, issuing a price target of $51. JP Morgan on their part issued Neutral rating on November 01, 2021.