Freestone Grove Partners LP Acquires Shares of 79,211 Surgery Partners, Inc. (NASDAQ:SGRY)

Freestone Grove Partners LP acquired a new stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 79,211 shares of the company's stock, valued at approximately $1,677,000. Freestone Grove Partners LP owned 0.06% of Surgery Partners as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SGRY. Pentwater Capital Management LP acquired a new stake in shares of Surgery Partners during the fourth quarter worth $8,997,000. Northern Trust Corp grew its position in Surgery Partners by 2.1% in the fourth 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 last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Surgery Partners during the fourth quarter valued at about $740,000. Boothbay Fund Management LLC bought a new position in Surgery Partners during the 4th quarter worth $1,449,000. Finally, Voya Investment Management LLC boosted its position in Surgery Partners by 411.9% during the fourth quarter. Voya Investment Management LLC now owns 127,707 shares of the company's stock valued at $2,704,000 after acquiring an additional 102,759 shares during the last quarter.

Insider Activity

In other news, insider Harrison R. Bane sold 56,315 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $25.64, for a total value of $1,443,916.60. Following the sale, the insider now directly owns 107,037 shares of the company's stock, valued at approximately $2,744,428.68. This represents a 34.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David T. Doherty sold 13,641 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $25.61, for a total value of $349,346.01. Following the sale, the chief financial officer now directly owns 108,862 shares in the company, valued at approximately $2,787,955.82. This trade represents a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,365 shares of company stock worth $2,711,255 in the last three months. 2.30% of the stock is owned by insiders.

Analyst Ratings Changes

SGRY has been the topic of a number of recent analyst reports. Macquarie lowered their target price on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Benchmark restated a "buy" rating and set a $35.00 price target on shares of Surgery Partners in a research report on Monday, April 21st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $35.00 target price on shares of Surgery Partners in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Surgery Partners has an average rating of "Moderate Buy" and an average target price of $34.75.

Surgery Partners Price Performance

SGRY stock traded down $0.18 during trading on Thursday, hitting $22.98. The stock had a trading volume of 406,640 shares, compared to its average volume of 1,085,787. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -47.88, a price-to-earnings-growth ratio of 19.21 and a beta of 1.96. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. Surgery Partners, Inc. has a 1-year low of $19.50 and a 1-year high of $33.97. The company's 50 day moving average price is $22.67 and its two-hundred day moving average price is $23.60.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $864.40 million during the quarter, compared to analyst estimates of $828.09 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. On average, sell-side analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

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.