Bayforest Capital Ltd Purchases Shares of 42,803 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 purchased a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 42,803 shares of the company's stock, valued at approximately $1,017,000.

Several other hedge funds have also recently added to or reduced their stakes in SGRY. Janus Henderson Group PLC lifted its stake in Surgery Partners by 110.2% in the fourth quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock valued at $244,616,000 after buying an additional 6,057,477 shares during the period. Pentwater Capital Management LP lifted its stake in Surgery Partners by 545.2% in the first quarter. Pentwater Capital Management LP now owns 2,742,000 shares of the company's stock valued at $65,122,000 after buying an additional 2,317,000 shares during the period. TIG Advisors LLC acquired a new position in Surgery Partners in the first quarter valued at about $46,902,000. Point72 Asset Management L.P. lifted its stake in Surgery Partners by 224.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company's stock valued at $36,975,000 after buying an additional 1,208,639 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Surgery Partners by 19.7% in the first quarter. Wellington Management Group LLP now owns 7,091,756 shares of the company's stock valued at $168,429,000 after buying an additional 1,165,667 shares during the period.

Surgery Partners Stock Down 1.1%

Shares of NASDAQ SGRY traded down $0.24 during mid-day trading 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 firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -15.29 and a beta of 1.76. 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 business has a fifty day simple moving average of $22.45 and a 200 day simple moving average of $22.56. Surgery Partners, Inc. has a twelve month low of $18.87 and a twelve month high of $33.90.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The company had revenue of $826.20 million for the quarter, compared to analyst estimates of $816.96 million. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.Surgery Partners's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. As a group, equities analysts expect that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SGRY shares. Bank of America started coverage on Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 target price on the stock. Barclays cut their target price on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.00.

Insider Transactions at Surgery Partners

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

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.