Surgery Partners, Inc. $SGRY Shares Purchased by Irenic Capital Management LP

Irenic Capital Management LP grew its position in Surgery Partners, Inc. (NASDAQ:SGRY) by 740.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 711,000 shares of the company’s stock after buying an additional 626,380 shares during the period. Surgery Partners accounts for approximately 0.6% of Irenic Capital Management LP’s investment portfolio, making the stock its 27th largest position. Irenic Capital Management LP’s holdings in Surgery Partners were worth $8,475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SGRY. PNC Financial Services Group Inc. grew its position in Surgery Partners by 239.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock worth $35,000 after acquiring an additional 2,051 shares during the period. Fifth Third Bancorp raised its position in Surgery Partners by 5,324.0% in the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock valued at $48,000 after purchasing an additional 3,993 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Surgery Partners by 45,640.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock valued at $49,000 after purchasing an additional 2,282 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of Surgery Partners in the 3rd quarter valued at $121,000. Finally, Alpine Global Management LLC acquired a new position in shares of Surgery Partners in the 4th quarter valued at $175,000.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SGRY. Jefferies Financial Group reiterated a “buy” rating and set a $17.00 price target on shares of Surgery Partners in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Surgery Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Surgery Partners in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.60.

Surgery Partners Trading Up 2.7%

SGRY opened at $15.58 on Wednesday. The business has a fifty day moving average price of $15.08 and a 200 day moving average price of $14.44. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.86 and a quick ratio of 1.69. Surgery Partners, Inc. has a 12 month low of $11.41 and a 12 month high of $24.10. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -25.97, a PEG ratio of 4.54 and a beta of 1.89.

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

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.