CastleKnight Management LP Acquires 115,600 Shares of Surgery Partners, Inc. $SGRY

CastleKnight Management LP raised its holdings in Surgery Partners, Inc. (NASDAQ:SGRY) by 135.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 200,700 shares of the company’s stock after purchasing an additional 115,600 shares during the period. CastleKnight Management LP’s holdings in Surgery Partners were worth $3,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SGRY. Pentwater Capital Management LP grew its position in Surgery Partners by 66.9% in the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock valued at $252,777,000 after acquiring an additional 4,681,000 shares during the last quarter. UBS Group AG grew its holdings in shares of Surgery Partners by 111.4% during the fourth quarter. UBS Group AG now owns 7,803,974 shares of the company’s stock worth $120,571,000 after purchasing an additional 4,113,052 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Surgery Partners by 528.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,959,686 shares of the company’s stock worth $30,277,000 after purchasing an additional 1,647,714 shares during the last quarter. Glenview Capital Management LLC bought a new stake in shares of Surgery Partners during the second quarter worth about $33,995,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Surgery Partners by 25.5% during the third quarter. Dimensional Fund Advisors LP now owns 4,860,215 shares of the company’s stock worth $105,177,000 after purchasing an additional 988,956 shares during the last quarter.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. TD Cowen reduced their price target on Surgery Partners from $28.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Mizuho reduced their price target on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. US Capital Advisors set a $21.00 price target on Surgery Partners in a report on Wednesday, March 11th. Benchmark restated a “buy” rating on shares of Surgery Partners in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada reduced their price target on Surgery Partners from $31.00 to $20.00 and set an “outperform” rating on the stock in a report 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.18.

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $14.23 on Thursday. The stock has a market cap of $1.86 billion, a P/E ratio of -23.72, a price-to-earnings-growth ratio of 4.53 and a beta of 1.96. The company has a current ratio of 1.86, a quick ratio of 1.69 and a debt-to-equity ratio of 1.17. The stock’s 50-day moving average is $13.90 and its 200-day moving average is $14.47. Surgery Partners, Inc. has a 1-year low of $11.41 and a 1-year high of $24.10.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.12. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The business had revenue of $810.90 million for the quarter, compared to analysts’ expectations of $797.69 million. During the same period in the prior year, the business posted $0.04 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Surgery Partners announced that its Board of Directors has approved a stock buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Surgery Partners 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.