Eisler Capital Management Ltd. Acquires New Position in Surgery Partners, Inc. $SGRY

Key Points

• Eisler Capital Management Ltd. has acquired 51,977 shares of Surgery Partners, Inc. (NASDAQ: SGRY), valued at approximately $1.24 million, during the first quarter of the year.
• Several hedge funds, including Janus Henderson Group and Point72 Asset Management, significantly increased their stakes in Surgery Partners, indicating growing interest in the company.
• Analysts have assigned a "Moderate Buy" rating for Surgery Partners with an average target price of $33.00, despite Barclays reducing their target price from $25.00 to $24.00.

Eisler Capital Management Ltd. bought a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 51,977 shares of the company's stock, valued at approximately $1,241,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SGRY. Envestnet Asset Management Inc. increased its stake in Surgery Partners by 17.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,707 shares of the company's stock valued at $692,000 after acquiring an additional 4,954 shares during the period. Barclays PLC increased its stake in Surgery Partners by 9.3% in the fourth quarter. Barclays PLC now owns 141,094 shares of the company's stock valued at $2,987,000 after acquiring an additional 11,961 shares during the period. Dimensional Fund Advisors LP increased its stake in Surgery Partners by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,577,861 shares of the company's stock valued at $75,739,000 after acquiring an additional 563,812 shares during the period. MetLife Investment Management LLC increased its stake in Surgery Partners by 6.1% in the fourth quarter. MetLife Investment Management LLC now owns 47,027 shares of the company's stock valued at $996,000 after acquiring an additional 2,684 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake 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 during the period.

Insider Activity

In other news, Director Teresa Deluca sold 20,018 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $22.74, for a total transaction of $455,209.32. Following the transaction, the director directly owned 45,173 shares in the company, valued at approximately $1,027,234.02. This represents a 30.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SGRY shares. Bank of America started coverage on shares of Surgery Partners in a research report on Monday, July 28th. They issued a "buy" rating and a $28.00 price target on the stock. Barclays reduced 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 report on Tuesday, May 27th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Surgery Partners presently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Surgery Partners Price Performance

Shares of SGRY stock traded down $0.17 during trading hours on Tuesday, reaching $22.52. 438,972 shares of the company were exchanged, compared to its average volume of 1,398,396. Surgery Partners, Inc. has a fifty-two week low of $18.87 and a fifty-two week high of $33.90. The stock's fifty day moving average is $22.41 and its two-hundred day moving average is $22.75. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -15.75 and a beta of 1.76. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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 company had revenue of $826.20 million for the quarter, compared to analyst estimates of $816.96 million. During the same period in the prior year, the business earned $0.21 earnings per share. Surgery Partners's quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

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.