Caxton Associates LLP Buys Shares of 183,183 Surgery Partners, Inc. $SGRY

Key Points

• Caxton Associates LLP has made a new investment in Surgery Partners, acquiring 183,183 shares valued at approximately $4.35 million, representing a 0.14% ownership stake.
• Insider transactions reveal that Director Teresa Deluca sold 20,018 shares at an average price of $22.74, decreasing her holdings by 30.71%.
• Surgery Partners reported Q2 financials with $826.2 million in revenue and an earnings per share (EPS) of $0.17, slightly surpassing analyst expectations.

Caxton Associates LLP acquired a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 183,183 shares of the company's stock, valued at approximately $4,351,000. Caxton Associates LLP owned approximately 0.14% of Surgery Partners at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC raised its holdings in shares of Surgery Partners by 110.2% in the 4th quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock valued at $244,616,000 after purchasing an additional 6,057,477 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Surgery Partners by 19.7% in the 1st quarter. Wellington Management Group LLP now owns 7,091,756 shares of the company's stock valued at $168,429,000 after purchasing an additional 1,165,667 shares in the last quarter. King Street Capital Management L.P. raised its holdings in shares of Surgery Partners by 93.1% in the 4th quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company's stock valued at $59,276,000 after purchasing an additional 1,350,000 shares in the last quarter. Pentwater Capital Management LP raised its holdings in shares of Surgery Partners by 545.2% in the 1st quarter. Pentwater Capital Management LP now owns 2,742,000 shares of the company's stock valued at $65,122,000 after purchasing an additional 2,317,000 shares in the last quarter. Finally, TIG Advisors LLC acquired a new stake in shares of Surgery Partners in the 1st quarter valued at $46,902,000.

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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa Deluca sold 20,018 shares of the business's 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 transaction, the director 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 disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

Surgery Partners Stock Performance

Shares of NASDAQ:SGRY traded down $0.24 on Friday, reaching $21.87. The company's stock had a trading volume of 1,034,555 shares, compared to its average volume of 1,240,219. The stock's 50-day moving average is $22.45 and its two-hundred day moving average is $22.57. Surgery Partners, Inc. has a 52-week low of $18.87 and a 52-week high of $33.90. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78. The stock has a market capitalization 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 announced its earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. The business had revenue of $826.20 million during the quarter, compared to analysts' expectations of $816.96 million. During the same period in the prior year, the company earned $0.21 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Analysts Set New Price Targets

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

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.