Alpine Associates Management Inc. Takes Position in Surgery Partners, Inc. (NASDAQ:SGRY)

Key Points

• Alpine Associates Management Inc. has acquired a new position in Surgery Partners, purchasing 570,075 shares valued at approximately $13.54 million, which represents about 0.44% of the company's total shares.
• The stock opened at $22.37 and has recently seen a fifty-two week low of $18.87 and a high of $33.97, with a market capitalization of $2.87 billion.
• Analysts currently have an average rating of "Moderate Buy" on the stock, with a price target averaging $33.33, showing confidence in the company's potential despite missing recent earnings estimates.

Alpine Associates Management Inc. purchased a new position in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 570,075 shares of the company's stock, valued at approximately $13,539,000. Alpine Associates Management Inc. owned approximately 0.44% of Surgery Partners as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new stake in Surgery Partners during the 1st quarter worth about $65,000. State of Wyoming raised its holdings in shares of Surgery Partners by 94.4% in the 4th quarter. State of Wyoming now owns 4,002 shares of the company's stock valued at $85,000 after purchasing an additional 1,943 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Surgery Partners by 12.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company's stock valued at $91,000 after purchasing an additional 465 shares during the period. GAMMA Investing LLC raised its holdings in shares of Surgery Partners by 7,902.7% in the 1st quarter. GAMMA Investing LLC now owns 8,883 shares of the company's stock valued at $211,000 after purchasing an additional 8,772 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Surgery Partners by 279.3% in the 4th 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.

Surgery Partners Stock Down 3.1%

NASDAQ:SGRY traded down $0.67 during trading hours on Friday, reaching $21.28. The company had a trading volume of 3,103,577 shares, compared to its average volume of 1,323,385. The company has a quick ratio of 1.73, a current ratio of 1.89 and a debt-to-equity ratio of 1.09. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -13.91 and a beta of 1.82. The business's 50-day simple moving average is $22.19 and its two-hundred day simple moving average is $22.88. Surgery Partners, Inc. has a twelve month low of $18.87 and a twelve month high of $33.97.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.04). Surgery Partners had a negative net margin of 6.10% and a positive return on equity of 2.41%. The business had revenue of $776.00 million for the quarter, compared to analyst estimates of $777.77 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

SGRY has been the topic of a number of research reports. Barclays decreased their price target on shares of 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. Benchmark restated a "buy" rating and set a $35.00 target price on shares of Surgery Partners in a research report on Monday, April 21st. Finally, Bank of America initiated coverage on shares of Surgery Partners in a research report on Monday, July 28th. They set a "buy" rating and a $28.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.33.

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.