Surgery Partners, Inc. $SGRY is Hein Park Capital Management LP's 3rd Largest Position

Key Points

• Hein Park Capital Management LP increased its stake in Surgery Partners, Inc. by 20.4%, becoming the company's 3rd largest shareholder with approximately $32.58 million worth of shares.
• Surgery Partners reported a positive quarterly earnings result of $0.17 per share, exceeding analyst expectations and reflecting an 8.4% increase in revenue year-over-year.
• Analysts have a consensus target price for Surgery Partners at $33.00, with six analysts recommending a Buy rating for the stock.

Hein Park Capital Management LP increased its position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,371,702 shares of the company's stock after purchasing an additional 232,475 shares during the period. Surgery Partners accounts for 14.9% of Hein Park Capital Management LP's portfolio, making the stock its 3rd biggest position. Hein Park Capital Management LP owned approximately 1.07% of Surgery Partners worth $32,578,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SGRY. Envestnet Asset Management Inc. boosted its position in shares of Surgery Partners by 17.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,707 shares of the company's stock valued at $692,000 after buying an additional 4,954 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Surgery Partners by 6.1% during the 4th quarter. MetLife Investment Management LLC now owns 47,027 shares of the company's stock valued at $996,000 after buying an additional 2,684 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Surgery Partners by 279.3% during 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. Price T Rowe Associates Inc. MD lifted its holdings in Surgery Partners by 8.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 66,144 shares of the company's stock worth $1,401,000 after purchasing an additional 5,327 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Surgery Partners by 411.9% in the 4th quarter. Voya Investment Management LLC now owns 127,707 shares of the company's stock worth $2,704,000 after purchasing an additional 102,759 shares in the last quarter.

Surgery Partners Stock Up 0.3%

NASDAQ SGRY traded up $0.06 during trading hours on Friday, hitting $22.42. 655,306 shares of the company were exchanged, compared to its average volume of 1,397,960. The company has a 50 day moving average of $22.47 and a two-hundred day moving average of $22.72. The company has a quick ratio of 1.78, a current ratio of 1.93 and a debt-to-equity ratio of 1.10. Surgery Partners, Inc. has a 52-week low of $18.87 and a 52-week high of $33.90. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of -15.70 and a beta of 1.76.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data 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 positive return on equity of 2.51% and a negative net margin of 5.57%.The business had revenue of $826.20 million for the quarter, compared to the consensus estimate of $816.96 million. During the same quarter in the prior year, the business posted $0.21 EPS. The business's revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

SGRY has been the topic of several recent research reports. Barclays decreased their price objective on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 27th. Bank of America assumed coverage on Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Surgery Partners has a consensus rating of "Moderate Buy" and an average target price of $33.00.

Insiders Place Their Bets

In other Surgery Partners news, Director Teresa Deluca sold 20,018 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $22.74, for a total transaction of $455,209.32. Following the completion of the sale, the director directly owned 45,173 shares of the company's stock, valued at approximately $1,027,234.02. This trade represents a 30.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.70% of the company's stock.

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.