Bayforest Capital Ltd Invests $1.02 Million in Surgery Partners, Inc. $SGRY

Key Points

• Bayforest Capital Ltd acquired 42,803 shares of Surgery Partners, Inc. ($SGRY), valued at approximately $1,017,000, during the 1st quarter of the year.
• Insiders sold shares, with Harrison R. Bane and Teresa Deluca decreasing their holdings significantly, highlighting potential concerns over insider confidence.
• Surgery Partners reported $826.20 million in revenue for the last quarter, surpassing estimates, and analysts have a consensus target price of $33.00 with several ratings indicating a Moderate Buy.

Bayforest Capital Ltd acquired a new position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 42,803 shares of the company's stock, valued at approximately $1,017,000.

Several other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in Surgery Partners by 110.2% in the 4th quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock worth $244,616,000 after purchasing an additional 6,057,477 shares during the last quarter. Wellington Management Group LLP raised its position in Surgery Partners by 19.7% in the 1st quarter. Wellington Management Group LLP now owns 7,091,756 shares of the company's stock worth $168,429,000 after purchasing an additional 1,165,667 shares during the last quarter. Pentwater Capital Management LP raised its position in Surgery Partners by 545.2% in the 1st quarter. Pentwater Capital Management LP now owns 2,742,000 shares of the company's stock worth $65,122,000 after purchasing an additional 2,317,000 shares during the last quarter. TIG Advisors LLC bought a new position in Surgery Partners in the 1st quarter worth approximately $46,902,000. Finally, Point72 Asset Management L.P. raised its position in Surgery Partners by 224.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company's stock worth $36,975,000 after purchasing an additional 1,208,639 shares during the last quarter.

Analysts Set New Price Targets

SGRY has been the subject of several research analyst reports. Bank of America initiated coverage on shares of Surgery Partners in a research report on Monday, July 28th. They issued a "buy" rating and a $28.00 price objective for the company. Barclays dropped their target price on shares of Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.00.

Surgery Partners Stock Down 1.1%

Shares of Surgery Partners stock traded down $0.24 during trading hours on Friday, reaching $21.87. 1,034,555 shares of the company's stock were exchanged, compared to its average volume of 1,240,219. The company has a 50 day moving average of $22.45 and a two-hundred day moving average of $22.57. Surgery Partners, Inc. has a fifty-two week low of $18.87 and a fifty-two week high of $33.90. The company has a current ratio of 1.93, a quick ratio of 1.78 and a debt-to-equity ratio of 1.10. The stock has a market cap of $2.80 billion, a P/E ratio of -15.29 and a beta of 1.76.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The company had revenue of $826.20 million for the quarter, compared to analysts' expectations of $816.96 million. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. Surgery Partners's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. On average, sell-side analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Insider Transactions at Surgery Partners

In other news, insider Harrison R. Bane sold 9,339 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $22.48, for a total value of $209,940.72. Following the sale, the insider directly owned 117,181 shares of the company's stock, valued at approximately $2,634,228.88. This represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Deluca sold 20,018 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.74, for a total transaction of $455,209.32. Following the completion of the sale, the director directly owned 45,173 shares in the company, valued at approximately $1,027,234.02. The trade was a 30.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

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.