Ardsley Advisory Partners LP Cuts Stock Position in Surgery Partners, Inc. $SGRY

Key Points

• Ardsley Advisory Partners LP reduced its stake in Surgery Partners, Inc. by 7.5%, selling 20,200 shares and holding 250,000 shares valued at approximately $5.9 million.
• Equities analysts have set mixed ratings for Surgery Partners, with a consensus target price of $33.00 and several analysts issuing a "buy" rating due to recent earnings performance.
• Insider trading activity was noted as Director Teresa Deluca sold 20,018 shares, reducing her ownership by 30.71% to 45,173 shares valued just over $1 million.

Ardsley Advisory Partners LP lowered its position in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 250,000 shares of the company's stock after selling 20,200 shares during the period. Ardsley Advisory Partners LP owned about 0.20% of Surgery Partners worth $5,938,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC bought a new stake in Surgery Partners during the first quarter worth about $950,000. TIG Advisors LLC purchased a new position in shares of Surgery Partners in the first quarter worth about $46,902,000. Hein Park Capital Management LP lifted its stake in shares of Surgery Partners by 20.4% in the 1st quarter. Hein Park Capital Management LP now owns 1,371,702 shares of the company's stock valued at $32,578,000 after acquiring an additional 232,475 shares during the last quarter. Eisler Capital Management Ltd. bought a new stake in shares of Surgery Partners in the 1st quarter valued at about $1,241,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Surgery Partners in the 1st quarter valued at about $1,849,000.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SGRY. Barclays lowered their target price on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 27th. Bank of America began coverage on Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 target price for the company. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Surgery Partners currently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Surgery Partners Trading Up 0.7%

NASDAQ:SGRY traded up $0.15 during mid-day trading on Friday, reaching $22.51. 1,035,308 shares of the company's stock traded hands, compared to its average volume of 1,316,687. Surgery Partners, Inc. has a 12-month low of $18.87 and a 12-month high of $33.90. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -15.74 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. The company has a 50 day moving average price of $22.48 and a 200-day moving average price of $22.68.

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 the consensus estimate of $0.16 by $0.01. The firm had revenue of $826.20 million during the quarter, compared to analyst estimates of $816.96 million. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The business's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 EPS. On average, sell-side analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Insider Buying and Selling at Surgery Partners

In other news, Director Teresa Deluca sold 20,018 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.74, for a total value of $455,209.32. Following the sale, the director directly owned 45,173 shares of the company's stock, valued at $1,027,234.02. This represents a 30.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

About Surgery Partners

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.