Clearline Capital LP Takes Position in Surgery Partners, Inc. $SGRY

Clearline Capital LP bought a new stake in Surgery Partners, Inc. (NASDAQ:SGRY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 199,876 shares of the company’s stock, valued at approximately $3,088,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SGRY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Surgery Partners by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock valued at $1,085,000 after purchasing an additional 2,015 shares during the period. Millennium Management LLC lifted its stake in shares of Surgery Partners by 1,253.7% in the 1st quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock valued at $4,804,000 after purchasing an additional 219,806 shares during the period. Empowered Funds LLC lifted its stake in shares of Surgery Partners by 11.0% in the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock valued at $305,000 after purchasing an additional 1,278 shares during the period. Prudential Financial Inc. purchased a new position in shares of Surgery Partners in the 2nd quarter valued at approximately $219,000. Finally, Invesco Ltd. raised its stake in Surgery Partners by 7.4% during the second quarter. Invesco Ltd. now owns 1,683,311 shares of the company’s stock valued at $37,420,000 after buying an additional 115,627 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SGRY. Mizuho lowered their price objective on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Surgery Partners in a research note on Wednesday, March 4th. US Capital Advisors set a $21.00 price objective on Surgery Partners in a research note on Wednesday, March 11th. Benchmark reiterated a “buy” rating on shares of Surgery Partners in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada lowered their price objective on Surgery Partners from $31.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.18.

Surgery Partners Stock Down 6.0%

Shares of NASDAQ:SGRY opened at $14.23 on Thursday. The stock has a fifty day simple moving average of $13.90 and a two-hundred day simple moving average of $14.47. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -23.72, a PEG ratio of 4.53 and a beta of 1.96. Surgery Partners, Inc. has a 12-month low of $11.41 and a 12-month high of $24.10. The company has a current ratio of 1.86, a quick ratio of 1.69 and a debt-to-equity ratio of 1.17.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. The business had revenue of $810.90 million during the quarter, compared to analyst estimates of $797.69 million. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS. On average, research analysts anticipate that Surgery Partners, Inc. will post 0.25 earnings per share for the current fiscal year.

Surgery Partners announced that its board has approved a share buyback program on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.