Penn Capital Management Company LLC Buys New Stake in Surgery Partners, Inc. $SGRY

Key Points

• Penn Capital Management initiated a position in Surgery Partners, buying 175,083 shares worth approximately $2.94 million, or about 0.13% of the company.
• Several major investors also established or expanded positions, including Jupiter Topco, Pentwater Capital, BlackRock, HSBC and UBS, indicating increased institutional interest in SGRY.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $19.45. Surgery Partners also beat quarterly earnings estimates, reporting $0.10 EPS and $848.9 million in revenue.

Penn Capital Management Company LLC bought a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 175,083 shares of the company's stock, valued at approximately $2,941,000. Penn Capital Management Company LLC owned approximately 0.13% of Surgery Partners as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Jupiter Topco LLC purchased a new stake in shares of Surgery Partners during the 2nd quarter valued at $233,220,000. Pentwater Capital Management LP purchased a new position in Surgery Partners during the 2nd quarter worth $195,384,000. BlackRock Inc. acquired a new position in Surgery Partners during the 2nd quarter valued at about $104,857,000. UBS Group AG increased its position in Surgery Partners by 111.4% during the 4th quarter. UBS Group AG now owns 7,803,974 shares of the company's stock valued at $120,571,000 after buying an additional 4,113,052 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Surgery Partners in the second quarter valued at about $48,912,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SGRY shares. Zacks Research downgraded Surgery Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. TD Cowen upped their price objective on shares of Surgery Partners from $17.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Benchmark reaffirmed a "buy" rating on shares of Surgery Partners in a research report on Tuesday, August 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $18.00 target price on shares of Surgery Partners in a research note on Tuesday, August 11th. Finally, Raymond James Financial set a $18.00 target price on shares of Surgery Partners in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $19.45.

Surgery Partners Stock Performance

Shares of SGRY opened at $13.69 on Friday. The stock has a 50-day moving average of $15.49 and a two-hundred day moving average of $14.38. Surgery Partners, Inc. has a one year low of $11.41 and a one year high of $23.44. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95. The stock has a market cap of $1.79 billion, a P/E ratio of -19.56, a P/E/G ratio of 4.22 and a beta of 1.91.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $848.90 million for the quarter, compared to analyst estimates of $830.03 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. As a group, research analysts predict that Surgery Partners, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In other Surgery Partners news, Director Teresa Deluca purchased 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average price of $14.35 per share, for a total transaction of $143,500.00. Following the acquisition, the director 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

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.

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