Surgery Partners, Inc. (NASDAQ:SGRY) Shares Sold by Avidity Partners Management LP

Avidity Partners Management LP decreased its position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 37.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 514,200 shares of the company's stock after selling 312,800 shares during the period. Avidity Partners Management LP owned 0.40% of Surgery Partners worth $10,886,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV increased its position in shares of Surgery Partners by 66.1% during the fourth quarter. KBC Group NV now owns 3,962 shares of the company's stock valued at $84,000 after acquiring an additional 1,577 shares during the last quarter. MeadowBrook Investment Advisors LLC increased its holdings in Surgery Partners by 16.6% in the 4th quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company's stock valued at $218,000 after purchasing an additional 1,460 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Surgery Partners by 279.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,762 shares of the company's stock valued at $228,000 after purchasing an additional 7,925 shares during the period. Empowered Funds LLC acquired a new position in Surgery Partners during the fourth quarter worth $245,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Surgery Partners during the fourth quarter worth $273,000.

Surgery Partners Stock Up 0.7 %

Shares of SGRY stock traded up $0.15 on Wednesday, reaching $23.16. 1,116,176 shares of the stock were exchanged, compared to its average volume of 1,088,249. Surgery Partners, Inc. has a twelve month low of $19.50 and a twelve month high of $33.97. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of -48.25, a PEG ratio of 19.21 and a beta of 1.96. The business's 50 day moving average price is $22.69 and its 200 day moving average price is $23.61.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $864.40 million for the quarter, compared to the consensus estimate of $828.09 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. As a group, sell-side analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Transactions at Surgery Partners

In other Surgery Partners news, insider Marissa Brittenham sold 3,156 shares of Surgery Partners 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 transaction, the insider now owns 63,408 shares of the company's stock, valued at $1,527,498.72. The trade was a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David T. Doherty sold 6,733 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $24.02, for a total transaction of $161,726.66. Following the transaction, the chief financial officer now owns 150,868 shares of the company's stock, valued at approximately $3,623,849.36. The trade was a 4.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,365 shares of company stock worth $2,711,255. 2.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SGRY shares. Macquarie cut 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. Benchmark reissued a "buy" rating and set a $35.00 price target on shares of Surgery Partners in a research report on Monday, April 21st. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $35.00 price objective on shares of Surgery Partners in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.75.

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.