901,332 Shares in Surgery Partners, Inc. $SGRY Acquired by Whitefort Capital Management LP

Key Points

• Whitefort Capital Management acquired 901,332 shares of Surgery Partners, valued at approximately $15.1 million, representing 0.69% of the company and 3.7% of the fund’s portfolio.
• Several other institutional investors, including BlackRock, also initiated positions during the second quarter, while director Teresa Deluca purchased 10,000 shares for $143,500.
• Surgery Partners exceeded quarterly earnings and revenue expectations, but analyst sentiment remains mixed: the stock has a “Moderate Buy” consensus rating with a $19.45 average price target versus its reported $14.05 share price.

Whitefort Capital Management LP acquired a new stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 901,332 shares of the company's stock, valued at approximately $15,142,378,000. Surgery Partners accounts for approximately 3.7% of Whitefort Capital Management LP's investment portfolio, making the stock its 12th biggest position. Whitefort Capital Management LP owned 0.69% of Surgery Partners as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in Surgery Partners in the second quarter valued at about $1,205,000. The Manufacturers Life Insurance Company bought a new stake in shares of Surgery Partners during the second quarter worth $10,978,000. Sanctuary Advisors LLC bought a new stake in shares of Surgery Partners during the second quarter worth $470,000. BlackRock Inc. acquired a new stake in shares of Surgery Partners during the second quarter worth $104,857,000. Finally, Deutsche Bank AG bought a new stake in Surgery Partners in the 2nd quarter valued at $1,495,000.

Insider Buying and Selling

In other news, Director Teresa Deluca acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was bought at an average price of $14.35 per share, with a total value of $143,500.00. Following the transaction, the director directly owned 66,843 shares in the company, valued at approximately $959,197.05. The trade was a 17.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Surgery Partners Stock Up 0.7%

NASDAQ:SGRY opened at $14.05 on Wednesday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -20.07, a price-to-earnings-growth ratio of 3.79 and a beta of 1.91. Surgery Partners, Inc. has a twelve month low of $11.41 and a twelve month high of $23.44. The stock's 50 day moving average price is $15.53 and its two-hundred day moving average price is $14.38. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $848.90 million during the quarter, compared to analysts' expectations of $830.03 million. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The firm's revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share. Equities research analysts expect that Surgery Partners, Inc. will post 0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SGRY shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Surgery Partners in a research note on Friday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $18.00 price objective on shares of Surgery Partners in a report on Tuesday, August 11th. Raymond James Financial set a $18.00 price objective on shares of Surgery Partners in a research report on Tuesday, August 11th. Zacks Research downgraded shares of Surgery Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada decreased their target price on shares of Surgery Partners from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Surgery Partners currently has an average rating of "Moderate Buy" and a consensus price target of $19.45.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.

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