Franklin Resources Inc. Buys 3,487 Shares of Surgery Partners, Inc. (NASDAQ:SGRY)

Franklin Resources Inc. boosted its holdings in Surgery Partners, Inc. (NASDAQ:SGRY) by 19.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,324 shares of the company’s stock after acquiring an additional 3,487 shares during the quarter. Franklin Resources Inc.’s holdings in Surgery Partners were worth $677,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Deerfield Management Company L.P. Series C raised its stake in shares of Surgery Partners by 47.7% in the second quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock worth $111,986,000 after acquiring an additional 1,520,484 shares during the last quarter. King Street Capital Management L.P. bought a new position in shares of Surgery Partners during the 3rd quarter valued at about $46,748,000. Point72 Asset Management L.P. bought a new stake in Surgery Partners in the 2nd quarter valued at $29,288,000. Janus Henderson Group PLC lifted its stake in Surgery Partners by 27.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company’s stock valued at $177,235,000 after acquiring an additional 1,184,450 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Surgery Partners by 140.4% in the 3rd 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.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SGRY. Macquarie reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and set a $43.00 price objective on shares of Surgery Partners in a research report on Friday, October 4th. JPMorgan Chase & Co. decreased their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Bank of America started coverage on shares of Surgery Partners in a research report on Monday, December 16th. They issued a “buy” rating and a $30.00 price target for the company. Finally, KeyCorp assumed coverage on shares of Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.56.

Surgery Partners Stock Performance

Shares of SGRY stock opened at $20.94 on Monday. Surgery Partners, Inc. has a 12 month low of $19.50 and a 12 month high of $35.29. The firm has a market capitalization of $2.66 billion, a PE ratio of -43.63, a price-to-earnings-growth ratio of 17.40 and a beta of 2.58. The firm has a fifty day simple moving average of $24.85 and a two-hundred day simple moving average of $27.60. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 earnings per share (EPS) 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 firm had revenue of $770.40 million for the quarter, compared to analysts’ expectations of $768.99 million. During the same period in the prior year, the firm earned $0.15 earnings per share. Surgery Partners’s revenue was up 14.3% compared to the same quarter last year. Analysts forecast that Surgery Partners, Inc. will post 0.71 EPS for the current fiscal year.

Surgery Partners Company 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.