Whitefort Capital Management LP Purchases New Stake in Surgery Partners, Inc. $SGRY

Whitefort Capital Management LP purchased a new stake in Surgery Partners, Inc. (NASDAQ:SGRY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 901,332 shares of the company’s stock, valued at approximately $15,142,378,000. Surgery Partners accounts for 3.7% of Whitefort Capital Management LP’s portfolio, making the stock its 12th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SGRY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Surgery Partners by 4.6% in the first 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 boosted its holdings in shares of Surgery Partners by 1,253.7% during the 1st quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock worth $4,804,000 after buying an additional 219,806 shares during the period. Empowered Funds LLC grew its stake in 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 buying an additional 1,278 shares during the last quarter. Prudential Financial Inc. acquired a new position in Surgery Partners in the 2nd quarter valued at about $219,000. Finally, Invesco Ltd. raised its holdings in Surgery Partners by 7.4% in the 2nd quarter. Invesco Ltd. now owns 1,683,311 shares of the company’s stock valued at $37,420,000 after acquiring an additional 115,627 shares during the period.

Analyst Upgrades and Downgrades

SGRY has been the subject of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research report on Friday. Jefferies Financial Group reiterated a “buy” rating and set a $17.00 target price on shares of Surgery Partners in a research note on Wednesday, May 6th. TD Cowen lifted their price target on Surgery Partners from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Royal Bank Of Canada dropped their price target on Surgery Partners from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Finally, Raymond James Financial set a $18.00 price target on Surgery Partners in a research note on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Surgery Partners has a consensus rating of “Moderate Buy” and a consensus price target of $19.45.

Surgery Partners Price Performance

NASDAQ:SGRY opened at $14.05 on Wednesday. Surgery Partners, Inc. has a 52 week low of $11.41 and a 52 week high of $23.44. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95. The firm’s 50-day simple moving average is $15.53 and its 200 day simple moving average is $14.38. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -20.07, a P/E/G ratio of 3.79 and a beta of 1.91.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The firm had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Surgery Partners

In related news, Director Teresa Deluca purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the purchase, the director owned 66,843 shares in the company, valued at approximately $959,197.05. This represents a 17.59% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

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.