Jupiter Topco LLC Makes New $233.22 Million Investment in Surgery Partners, Inc. $SGRY

Key Points

• Jupiter Topco LLC acquired 13.88 million shares of Surgery Partners, valued at approximately $233.22 million, giving it a 10.6% ownership stake.
• Surgery Partners reported quarterly EPS of $0.10, beating estimates by $0.04, while revenue of $848.9 million exceeded expectations and increased 2.7% year over year.
• Shares opened at $14.04, below the analyst consensus target of $19.45. Analysts’ overall rating is “Moderate Buy,” despite one sell rating and recent price-target reductions.

Jupiter Topco LLC purchased a new stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 13,882,155 shares of the company's stock, valued at approximately $233,220,000. Jupiter Topco LLC owned 10.60% of Surgery Partners at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SGRY. PNC Financial Services Group Inc. increased its stake in Surgery Partners by 239.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company's stock valued at $35,000 after purchasing an additional 2,051 shares in the last quarter. Fifth Third Bancorp boosted its position in Surgery Partners by 5,324.0% during the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company's stock worth $48,000 after purchasing an additional 3,993 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Surgery Partners by 45,640.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company's stock valued at $49,000 after purchasing an additional 2,282 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Surgery Partners in the third quarter valued at $121,000. Finally, Alpine Global Management LLC purchased a new position in shares of Surgery Partners in the fourth quarter valued at $175,000.

Surgery Partners Stock Down 0.1%

Shares of NASDAQ SGRY opened at $14.04 on Thursday. Surgery Partners, Inc. has a 1 year low of $11.41 and a 1 year high of $23.44. The firm's 50 day moving average price is $15.52 and its 200 day moving average price is $14.39. The firm has a market cap of $1.84 billion, a P/E ratio of -20.06, a price-to-earnings-growth ratio of 3.81 and a beta of 1.91. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its quarterly 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. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The company had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. During the same period in the previous year, the firm posted $0.17 EPS. Surgery Partners's revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Insider Activity at Surgery Partners

In other Surgery Partners news, Director Teresa Deluca acquired 10,000 shares of the stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average price of $14.35 per share, with a total value of $143,500.00. Following the completion of the transaction, the director directly owned 66,843 shares in the company, valued at approximately $959,197.05. This trade represents a 17.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SGRY. Raymond James Financial set a $18.00 price target on Surgery Partners in a research note on Tuesday, August 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $18.00 price objective on shares of Surgery Partners in a research note on Tuesday, August 11th. Royal Bank Of Canada cut their price objective on Surgery Partners from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, August 11th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Surgery Partners in a report on Friday, August 21st. Finally, Jefferies Financial Group reissued a "buy" rating and set a $17.00 price target on shares of Surgery Partners in a research report on Wednesday, May 6th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.45.

Surgery Partners Profile

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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