Alpine Associates Management Inc. Lowers Position in Surgery Partners, Inc. $SGRY

Alpine Associates Management Inc. lessened its position in Surgery Partners, Inc. (NASDAQ:SGRY) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 540,025 shares of the company’s stock after selling 30,050 shares during the quarter. Alpine Associates Management Inc.’s holdings in Surgery Partners were worth $12,005,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC lifted its position in Surgery Partners by 112.0% during the first quarter. AlphaQuest LLC now owns 1,058 shares of the company’s stock valued at $25,000 after buying an additional 559 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Surgery Partners by 86.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company’s stock worth $28,000 after buying an additional 542 shares during the period. Summit Securities Group LLC bought a new position in shares of Surgery Partners in the 1st quarter worth about $31,000. DekaBank Deutsche Girozentrale purchased a new position in Surgery Partners during the 1st quarter valued at about $65,000. Finally, FNY Investment Advisers LLC bought a new stake in Surgery Partners during the second quarter worth about $115,000.

Insiders Place Their Bets

In other news, Director Teresa Deluca sold 20,018 shares of the firm’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 trade represents a 30.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Harrison R. Bane sold 9,339 shares of Surgery Partners stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $22.48, for a total value of $209,940.72. Following the completion of the sale, the insider directly owned 117,181 shares in the company, valued at approximately $2,634,228.88. The trade was a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SGRY has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surgery Partners in a research note on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $36.00 price objective on shares of Surgery Partners in a research report on Tuesday, October 7th. JPMorgan Chase & Co. assumed coverage on Surgery Partners in a report on Thursday, September 18th. They issued a “neutral” rating and a $27.00 target price on the stock. Finally, Bank of America initiated coverage on Surgery Partners in a research note on Monday, July 28th. They issued a “buy” rating and a $28.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.14.

Surgery Partners Stock Performance

SGRY stock opened at $21.93 on Monday. Surgery Partners, Inc. has a 12-month low of $18.87 and a 12-month high of $31.89. The stock’s 50 day simple moving average is $21.73 and its 200 day simple moving average is $22.15. The company has a current ratio of 1.93, a quick ratio of 1.78 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $2.81 billion, a PE ratio of -15.34 and a beta of 1.83.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The company had revenue of $826.20 million for the quarter, compared to analysts’ expectations of $816.96 million. During the same period last year, the firm posted $0.21 earnings per share. Surgery Partners’s revenue was up 8.4% compared to the same quarter last year. As a group, research analysts forecast that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Surgery Partners Company 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.