Surgery Partners, Inc. (NASDAQ:SGRY) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 224.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,746,554 shares of the company’s stock after purchasing an additional 1,208,639 shares during the quarter. Point72 Asset Management L.P.’s holdings in Surgery Partners were worth $36,975,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SGRY. Franklin Resources Inc. grew its position in Surgery Partners by 19.5% during the 3rd quarter. Franklin Resources Inc. now owns 21,324 shares of the company’s stock worth $677,000 after purchasing an additional 3,487 shares during the period. Inspire Investing LLC grew its position in Surgery Partners by 47.5% during the 4th quarter. Inspire Investing LLC now owns 19,034 shares of the company’s stock worth $403,000 after purchasing an additional 6,131 shares during the period. KBC Group NV grew its position in Surgery Partners by 66.1% during the 4th quarter. KBC Group NV now owns 3,962 shares of the company’s stock worth $84,000 after purchasing an additional 1,577 shares during the period. E. Ohman J or Asset Management AB grew its position in Surgery Partners by 40.3% during the 4th quarter. E. Ohman J or Asset Management AB now owns 1,243,111 shares of the company’s stock worth $26,317,000 after purchasing an additional 357,023 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Surgery Partners during the 4th quarter worth about $245,000.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $35.00 price target on shares of Surgery Partners in a research report on Monday, April 21st. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Surgery Partners in a research note on Tuesday, March 25th. Finally, Macquarie lowered their target price on shares of Surgery Partners from $34.00 to $33.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Surgery Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.75.

Surgery Partners Trading Up 1.3%

SGRY stock opened at $23.94 on Friday. The company’s 50-day simple moving average is $22.55 and its 200-day simple moving average is $23.23. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. Surgery Partners, Inc. has a 52-week low of $19.50 and a 52-week high of $33.97. The firm has a market cap of $3.07 billion, a P/E ratio of -49.88, a PEG ratio of 19.21 and a beta of 1.96.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The company had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $777.77 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, equities analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Insider Activity at Surgery Partners

In related news, insider Marissa Brittenham sold 3,156 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $24.09, for a total value of $76,028.04. Following the transaction, the insider now directly owns 63,408 shares of the company’s stock, valued at approximately $1,527,498.72. This trade represents a 4.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David T. Doherty sold 6,733 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $24.02, for a total transaction of $161,726.66. Following the completion of the transaction, the chief financial officer now directly owns 150,868 shares in the company, valued at $3,623,849.36. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

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.