Sirios Capital Management L P Buys Shares of 374,948 Surgery Partners, Inc. $SGRY

Sirios Capital Management L P purchased a new position in Surgery Partners, Inc. (NASDAQ:SGRY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 374,948 shares of the company’s stock, valued at approximately $8,114,000. Sirios Capital Management L P owned 0.29% of Surgery Partners at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Surgery Partners by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,614,514 shares of the company’s stock worth $164,778,000 after purchasing an additional 424,518 shares in the last quarter. King Street Capital Management L.P. grew its holdings in Surgery Partners by 24.5% during the second quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company’s stock valued at $138,382,000 after purchasing an additional 1,225,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in Surgery Partners by 25.5% during the third quarter. Dimensional Fund Advisors LP now owns 4,860,215 shares of the company’s stock valued at $105,177,000 after purchasing an additional 988,956 shares during the period. UBS Group AG increased its position in Surgery Partners by 50.6% in the third quarter. UBS Group AG now owns 3,690,922 shares of the company’s stock worth $79,872,000 after buying an additional 1,239,549 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Surgery Partners by 0.5% in the second quarter. Geode Capital Management LLC now owns 1,916,384 shares of the company’s stock worth $42,606,000 after buying an additional 9,836 shares during the period.

Insiders Place Their Bets

In related news, CFO David T. Doherty sold 14,574 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $13.84, for a total value of $201,704.16. Following the transaction, the chief financial officer directly owned 88,803 shares of the company’s stock, valued at approximately $1,229,033.52. This trade represents a 14.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Baldock sold 10,082 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $13.70, for a total value of $138,123.40. Following the transaction, the insider owned 332,272 shares in the company, valued at approximately $4,552,126.40. This represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 54,705 shares of company stock worth $752,106. Company insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SGRY shares. UBS Group reaffirmed a “buy” rating on shares of Surgery Partners in a research report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research note on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a report on Tuesday, March 3rd. Jefferies Financial Group reissued a “buy” rating on shares of Surgery Partners in a research note on Wednesday, March 4th. Finally, Barclays decreased their price objective on shares of Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.36.

Surgery Partners Stock Down 2.8%

NASDAQ:SGRY opened at $12.38 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 1.15. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -19.97 and a beta of 1.95. The stock has a fifty day simple moving average of $14.95 and a 200-day simple moving average of $17.79. Surgery Partners, Inc. has a twelve month low of $12.25 and a twelve month high of $24.60.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Monday, March 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.19). Surgery Partners had a positive return on equity of 1.28% and a negative net margin of 2.35%.The business had revenue of $885.00 million for the quarter, compared to the consensus estimate of $866.54 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Analysts anticipate that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Surgery Partners announced that its Board of Directors has authorized a share buyback plan on Thursday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

About Surgery Partners

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.