Alpine Associates Management Inc. Sells 30,050 Shares of Surgery Partners, Inc. $SGRY

Alpine Associates Management Inc. lowered its holdings in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 5.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 540,025 shares of the company’s stock after selling 30,050 shares during the period. Alpine Associates Management Inc. owned about 0.42% of Surgery Partners worth $12,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allianz Asset Management GmbH acquired a new stake in shares of Surgery Partners in the 1st quarter valued at about $420,000. Bank of New York Mellon Corp grew its holdings in shares of Surgery Partners by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 341,702 shares of the company’s stock valued at $8,115,000 after acquiring an additional 926 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Surgery Partners by 9.5% during the first quarter. Principal Financial Group Inc. now owns 54,266 shares of the company’s stock valued at $1,289,000 after acquiring an additional 4,717 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Surgery Partners during the 1st quarter valued at $447,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Surgery Partners by 86.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company’s stock worth $28,000 after purchasing an additional 542 shares during the period.

Surgery Partners Stock Down 1.0%

SGRY opened at $21.93 on Monday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78. Surgery Partners, Inc. has a one year low of $18.87 and a one year high of $31.89. The firm has a market capitalization of $2.81 billion, a P/E ratio of -15.34 and a beta of 1.83. The company has a fifty day moving average price of $21.73 and a 200-day moving average price of $22.15.

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

Insider Transactions at Surgery Partners

In other Surgery Partners news, 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 transaction, the insider directly owned 117,181 shares of the company’s stock, valued at $2,634,228.88. The trade was a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Deluca sold 20,018 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $22.74, for a total value of $455,209.32. Following the completion of the sale, the director owned 45,173 shares of the company’s stock, valued at $1,027,234.02. The trade was a 30.71% decrease in their position. The SEC filing for this sale provides additional information. 2.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Surgery Partners 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.