Point72 Asset Management L.P. Acquires 1,208,639 Shares of Surgery Partners, Inc. (NASDAQ:SGRY)

Point72 Asset Management L.P. lifted its stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 224.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,746,554 shares of the company's stock after purchasing an additional 1,208,639 shares during the quarter. Point72 Asset Management L.P. owned 1.37% of Surgery Partners worth $36,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SGRY. Janus Henderson Group PLC increased its stake in Surgery Partners by 110.2% during the 4th quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock valued at $244,616,000 after purchasing an additional 6,057,477 shares in the last quarter. King Street Capital Management L.P. increased its position in shares of Surgery Partners by 93.1% during the fourth quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company's stock valued at $59,276,000 after acquiring an additional 1,350,000 shares in the last quarter. American Century Companies Inc. increased its position in shares of Surgery Partners by 223.9% during the fourth quarter. American Century Companies Inc. now owns 1,399,756 shares of the company's stock valued at $29,633,000 after acquiring an additional 967,534 shares in the last quarter. Norges Bank purchased a new position in Surgery Partners in the 4th quarter worth approximately $15,796,000. Finally, Dimensional Fund Advisors LP lifted its position in Surgery Partners by 18.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,577,861 shares of the company's stock valued at $75,739,000 after acquiring an additional 563,812 shares in the last quarter.

Analyst Ratings Changes

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

Surgery Partners Stock Performance

Surgery Partners stock traded down $0.08 during mid-day trading on Thursday, reaching $22.59. 166,537 shares of the stock traded hands, compared to its average volume of 1,097,378. Surgery Partners, Inc. has a 12-month low of $19.50 and a 12-month high of $33.97. The business's 50-day moving average is $22.53 and its 200-day moving average is $23.11. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. The stock has a market capitalization of $2.90 billion, a PE ratio of -47.10, a price-to-earnings-growth ratio of 19.21 and a beta of 1.96.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.04). The business had revenue of $776.00 million for the quarter, compared to analysts' expectations of $777.77 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. Surgery Partners's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. As a group, sell-side analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Marissa Brittenham sold 3,156 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.09, for a total value of $76,028.04. Following the completion of the sale, the insider now directly owns 63,408 shares of the company's stock, valued at approximately $1,527,498.72. This represents a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David T. Doherty sold 6,733 shares of Surgery Partners stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.02, for a total transaction of $161,726.66. Following the transaction, the chief financial officer now directly owns 150,868 shares in the company, valued at $3,623,849.36. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.30% 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.