Man Group plc Makes New $11.72 Million Investment in Surgery Partners, Inc. $SGRY

Key Points

• Man Group plc initiated an approximately $11.72 million position in Surgery Partners, purchasing 697,552 shares, or about 0.53% of the company.
• Other institutions also increased their holdings, while Surgery Partners director Teresa Deluca bought 10,000 shares for $143,500, signaling additional insider and institutional interest.
• The company exceeded quarterly earnings and revenue expectations, and analysts maintain a “Moderate Buy” consensus with a $19.45 target price, despite mixed ratings and the stock trading near $13.93.

Man Group plc bought a new position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 697,552 shares of the company's stock, valued at approximately $11,719,000. Man Group plc owned approximately 0.53% of Surgery Partners as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SGRY. UBS Group AG boosted its holdings in Surgery Partners by 111.4% in the 4th quarter. UBS Group AG now owns 7,803,974 shares of the company's stock worth $120,571,000 after buying an additional 4,113,052 shares during the period. Irenic Capital Management LP raised its holdings in Surgery Partners by 740.2% during the 1st quarter. Irenic Capital Management LP now owns 711,000 shares of the company's stock valued at $8,475,000 after acquiring an additional 626,380 shares during the period. Dimensional Fund Advisors LP raised its holdings in Surgery Partners by 7.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company's stock valued at $63,131,000 after acquiring an additional 389,831 shares during the period. Hsbc Holdings PLC lifted its position in shares of Surgery Partners by 104.2% during the fourth quarter. Hsbc Holdings PLC now owns 1,931,577 shares of the company's stock worth $30,151,000 after acquiring an additional 985,748 shares in the last quarter. Finally, Clearline Capital LP purchased a new stake in shares of Surgery Partners during the fourth quarter worth $3,088,000.

Insider Transactions at Surgery Partners

In other Surgery Partners news, Director Teresa Deluca bought 10,000 shares of Surgery Partners stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the transaction, the director directly owned 66,843 shares in the company, valued at $959,197.05. This represents a 17.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Raymond James Financial set a $18.00 price target on Surgery Partners in a report on Tuesday, August 11th. Zacks Research lowered Surgery Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Cantor Fitzgerald reissued an "overweight" rating and set a $18.00 price objective on shares of Surgery Partners in a report on Tuesday, August 11th. Weiss Ratings restated a "sell (e+)" rating on shares of Surgery Partners in a research note on Friday, August 21st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $17.00 target price on shares of Surgery Partners in a 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 issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.45.

Surgery Partners Stock Performance

NASDAQ SGRY opened at $13.93 on Friday. The company's 50 day simple moving average is $15.51 and its two-hundred day simple moving average is $14.39. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78. Surgery Partners, Inc. has a 1 year low of $11.41 and a 1 year high of $23.44. The stock has a market capitalization of $1.82 billion, a PE ratio of -19.90, a P/E/G ratio of 4.33 and a beta of 1.91.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.04. The firm had revenue of $848.90 million during the quarter, compared to analyst estimates of $830.03 million. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. Analysts predict that Surgery Partners, Inc. will post 0.22 earnings per share for the current fiscal year.

About Surgery Partners

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.

Want to see what other hedge funds are holding SGRY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Surgery Partners, Inc. (NASDAQ:SGRY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source