Woodline Partners LP Makes New Investment in Surgery Partners, Inc. $SGRY

Key Points

• Woodline Partners LP acquired 525,400 shares of Surgery Partners, Inc. valued at approximately $12.48 million, representing a 0.41% ownership in the company.
• Multiple institutional investors have recently adjusted their stakes in Surgery Partners, with significant increases in holdings by companies like PNC Financial Services and AlphaQuest LLC.
• Surgery Partners reported a quarterly revenue of $826.20 million and an EPS of $0.17, exceeding analysts' expectations for the quarter.

Woodline Partners LP bought a new position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 525,400 shares of the company's stock, valued at approximately $12,478,000. Woodline Partners LP owned 0.41% of Surgery Partners at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SGRY. Northern Trust Corp grew its position in shares of Surgery Partners by 2.1% during the 4th quarter. Northern Trust Corp now owns 761,790 shares of the company's stock valued at $16,127,000 after acquiring an additional 15,657 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Surgery Partners during the 4th quarter valued at $967,000. Deutsche Bank AG grew its position in shares of Surgery Partners by 20.4% during the 4th quarter. Deutsche Bank AG now owns 96,512 shares of the company's stock valued at $2,043,000 after acquiring an additional 16,340 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Surgery Partners by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,678 shares of the company's stock valued at $925,000 after acquiring an additional 1,640 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Surgery Partners by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 21,629 shares of the company's stock valued at $458,000 after acquiring an additional 7,116 shares during the period.

Surgery Partners Trading Up 0.9%

NASDAQ:SGRY traded up $0.20 during mid-day trading on Wednesday, hitting $21.76. 95,024 shares of the stock traded hands, compared to its average volume of 1,395,656. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -15.20 and a beta of 1.76. Surgery Partners, Inc. has a 52 week low of $18.87 and a 52 week high of $33.90. The firm's 50 day moving average is $22.43 and its two-hundred day moving average is $22.52. 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 (NASDAQ:SGRY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $826.20 million for the quarter, compared to the consensus estimate of $816.96 million. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. On average, equities research analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In other Surgery Partners news, insider Harrison R. Bane sold 9,339 shares of the company's 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 transaction, the insider directly owned 117,181 shares in the company, valued at $2,634,228.88. This represents a 7.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Deluca sold 20,018 shares of the company's stock in a transaction dated 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 transaction, the director owned 45,173 shares in the company, valued at $1,027,234.02. This represents a 30.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

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.