Twin Securities Inc. Invests $7.84 Million in Surgery Partners, Inc. $SGRY

Key Points

• Twin Securities Inc. has made a new investment of approximately $7.84 million in Surgery Partners, acquiring 330,273 shares, which represents about 4.1% of their total holdings.
• Surgery Partners reported earnings of $0.17 per share for the last quarter, exceeding estimates and marking an 8.4% year-over-year revenue increase to $826.20 million.
• Recent brokerages' assessments suggest a Moderate Buy rating for Surgery Partners, with an average target price of $33.00 and several analysts highlighting strong investor interest.

Twin Securities Inc. bought a new position in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 330,273 shares of the company's stock, valued at approximately $7,844,000. Surgery Partners makes up 4.1% of Twin Securities Inc.'s investment portfolio, making the stock its 8th biggest holding. Twin Securities Inc. owned 0.26% of Surgery Partners as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in shares of Surgery Partners by 110.2% during the 4th quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock worth $244,616,000 after buying an additional 6,057,477 shares during the period. Pentwater Capital Management LP lifted its position in shares of Surgery Partners by 545.2% during the 1st quarter. Pentwater Capital Management LP now owns 2,742,000 shares of the company's stock worth $65,122,000 after buying an additional 2,317,000 shares during the last quarter. TIG Advisors LLC bought a new stake in shares of Surgery Partners in the 1st quarter valued at about $46,902,000. King Street Capital Management L.P. increased its position in Surgery Partners by 93.1% during the 4th quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company's stock valued at $59,276,000 after purchasing an additional 1,350,000 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Surgery Partners by 224.7% during the fourth quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company's stock worth $36,975,000 after purchasing an additional 1,208,639 shares during the period.

Surgery Partners Trading Down 2.2%

Shares of NASDAQ SGRY traded down $0.48 during mid-day trading on Wednesday, reaching $21.46. The company had a trading volume of 2,149,252 shares, compared to its average volume of 1,407,197. The business's 50-day moving average is $22.46 and its 200-day moving average is $22.62. The company has a current ratio of 1.93, a quick ratio of 1.78 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 stock has a market cap of $2.75 billion, a price-to-earnings ratio of -15.01 and a beta of 1.76.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. The firm had revenue of $826.20 million during the quarter, compared to the consensus estimate of $816.96 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. Equities analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Teresa Deluca sold 20,018 shares of Surgery Partners stock in a transaction that occurred on Monday, August 11th. The stock was 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. The trade was a 30.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Harrison R. Bane sold 9,339 shares of Surgery Partners stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $22.48, for a total value of $209,940.72. Following the completion of the transaction, the insider directly owned 117,181 shares of the company's stock, valued at approximately $2,634,228.88. This represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SGRY has been the subject of several research reports. Bank of America initiated coverage on shares of Surgery Partners in a research report on Monday, July 28th. They set a "buy" rating and a $28.00 price target for the company. Barclays decreased their price target on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Surgery Partners presently has an average rating of "Moderate Buy" and an average price target of $33.00.

Surgery Partners 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.