Bayforest Capital Ltd Acquires New Holdings in Surgery Partners, Inc. (NASDAQ:SGRY)

Key Points

• Bayforest Capital Ltd made a new investment of approximately $1.02 million in Surgery Partners, acquiring 42,803 shares, which constitutes about 0.5% of its portfolio.
• Surgery Partners reported Q1 earnings of $0.04 per share, missing estimates, with a revenue of $776 million, which represents an 8.2% increase year-over-year.
• Wall Street analysts have mixed opinions on Surgery Partners, with a consensus rating of "Moderate Buy" and a target price averaging around $33.33.

Bayforest Capital Ltd acquired a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 42,803 shares of the company's stock, valued at approximately $1,017,000. Surgery Partners makes up approximately 0.5% of Bayforest Capital Ltd's portfolio, making the stock its 28th biggest position.

Other large investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in Surgery Partners in the first quarter valued at approximately $65,000. State of Wyoming grew its position in Surgery Partners by 94.4% in the fourth quarter. State of Wyoming now owns 4,002 shares of the company's stock valued at $85,000 after acquiring an additional 1,943 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Surgery Partners by 12.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,296 shares of the company's stock valued at $91,000 after acquiring an additional 465 shares in the last quarter. GAMMA Investing LLC grew its position in Surgery Partners by 7,902.7% in the first quarter. GAMMA Investing LLC now owns 8,883 shares of the company's stock valued at $211,000 after acquiring an additional 8,772 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew 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 acquiring an additional 7,925 shares in the last quarter.

Surgery Partners Stock Performance

SGRY traded down $0.67 during trading hours on Friday, hitting $21.28. 3,103,577 shares of the stock were exchanged, compared to its average volume of 1,323,385. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.89 and a quick ratio of 1.73. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -13.91 and a beta of 1.82. Surgery Partners, Inc. has a 12 month low of $18.87 and a 12 month high of $33.97. The stock has a 50-day simple moving average of $22.22 and a 200-day simple moving average of $22.85.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its earnings results 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). The company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $777.77 million. Surgery Partners had a negative net margin of 6.10% and a positive return on equity of 2.41%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. Analysts anticipate that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays decreased their price target 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. Bank of America assumed coverage on shares of Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 price target for the company. Finally, Benchmark restated a "buy" rating and issued a $35.00 price target on shares of Surgery Partners in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.33.

About Surgery Partners

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.