NINE MASTS CAPITAL Ltd Purchases New Position in Surgery Partners, Inc. (NASDAQ:SGRY)

NINE MASTS CAPITAL Ltd purchased a new position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 28,648 shares of the company's stock, valued at approximately $606,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. King Street Capital Management L.P. purchased a new position in Surgery Partners in the third quarter valued at about $46,748,000. Janus Henderson Group PLC lifted its stake in Surgery Partners by 27.5% in the third quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company's stock valued at $177,235,000 after purchasing an additional 1,184,450 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Surgery Partners by 140.4% in the third quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company's stock valued at $42,892,000 after purchasing an additional 777,038 shares during the last quarter. FMR LLC grew its holdings in Surgery Partners by 3.1% during the third quarter. FMR LLC now owns 18,311,867 shares of the company's stock valued at $590,375,000 after purchasing an additional 546,869 shares during the period. Finally, E. Ohman J or Asset Management AB increased its position in Surgery Partners by 40.3% in the fourth quarter. E. Ohman J or Asset Management AB now owns 1,243,111 shares of the company's stock worth $26,317,000 after buying an additional 357,023 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SGRY shares. Royal Bank of Canada dropped their price target on Surgery Partners from $49.00 to $35.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 20th. Bank of America assumed coverage on shares of Surgery Partners in a report on Monday, December 16th. They set a "buy" rating and a $30.00 price objective on the stock. Macquarie reiterated an "outperform" rating and issued a $34.00 target price on shares of Surgery Partners in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Surgery Partners from $38.00 to $28.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.56.

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Surgery Partners Price Performance

Shares of SGRY traded up $0.19 during trading hours on Thursday, reaching $24.16. 1,017,510 shares of the company's stock traded hands, compared to its average volume of 1,058,561. Surgery Partners, Inc. has a 12 month low of $19.50 and a 12 month high of $33.97. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The stock has a market cap of $3.07 billion, a PE ratio of -50.33, a price-to-earnings-growth ratio of 19.21 and a beta of 2.60. The firm's 50 day simple moving average is $23.21 and its 200-day simple moving average is $26.36.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $864.40 million during the quarter, compared to analyst estimates of $828.09 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. Equities analysts expect that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Insider Activity at Surgery Partners

In other news, CEO Jason Eric Evans sold 26,520 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $25.65, for a total transaction of $680,238.00. Following the transaction, the chief executive officer now directly owns 560,698 shares in the company, valued at approximately $14,381,903.70. This represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Harrison R. Bane sold 56,315 shares of Surgery Partners stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $25.64, for a total transaction of $1,443,916.60. Following the transaction, the insider now directly owns 107,037 shares in the company, valued at $2,744,428.68. This trade represents a 34.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,733 shares of company stock valued at $2,480,106 over the last 90 days. 2.30% of the stock is owned by insiders.

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.