Cubist Systematic Strategies LLC Acquires New Shares in Surgery Partners, Inc. (NASDAQ:SGRY)

Cubist Systematic Strategies LLC purchased a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,677 shares of the company's stock, valued at approximately $967,000.

A number of other hedge funds have also made changes to their positions in SGRY. American Century Companies Inc. raised its holdings in shares of Surgery Partners by 223.9% during the 4th quarter. American Century Companies Inc. now owns 1,399,756 shares of the company's stock valued at $29,633,000 after buying an additional 967,534 shares during the period. Norges Bank purchased a new stake in shares of Surgery Partners during the 4th quarter valued at about $15,796,000. Dimensional Fund Advisors LP raised its holdings in shares of Surgery Partners by 18.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,577,861 shares of the company's stock valued at $75,739,000 after buying an additional 563,812 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Surgery Partners during the 4th quarter valued at about $10,130,000. Finally, Pentwater Capital Management LP purchased a new stake in shares of Surgery Partners during the 4th quarter valued at about $8,997,000.

Insider Activity

In related news, insider Marissa Brittenham sold 3,156 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the transaction, the insider now owns 63,408 shares in the company, valued at $1,527,498.72. The trade was a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David T. Doherty sold 6,733 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.02, for a total value of $161,726.66. Following the transaction, the chief financial officer now owns 150,868 shares of the company's stock, valued at $3,623,849.36. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Benchmark reiterated a "buy" rating and set a $35.00 target price on shares of Surgery Partners in a report on Monday, April 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $35.00 target price on shares of Surgery Partners in a report on Tuesday, March 25th. Finally, Macquarie dropped their price objective on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $34.75.

Surgery Partners Stock Performance

Shares of NASDAQ SGRY traded down $0.14 during trading on Tuesday, reaching $23.47. The stock had a trading volume of 101,176 shares, compared to its average volume of 1,087,136. Surgery Partners, Inc. has a one year low of $19.50 and a one year high of $33.97. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. The stock has a market cap of $3.01 billion, a PE ratio of -48.92, a P/E/G ratio of 19.21 and a beta of 1.96. The firm's 50 day moving average price is $22.56 and its two-hundred day moving average price is $23.11.

Surgery Partners (NASDAQ:SGRY - Get Free Report) 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). Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $777.77 million. During the same quarter last year, the firm posted $0.10 earnings per share. Surgery Partners's revenue was up 8.2% compared to the same quarter last year. On average, research analysts forecast that Surgery Partners, Inc. will post 0.67 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.