Surgery Partners, Inc. (NASDAQ:SGRY) Position Lifted by King Street Capital Management L.P.

King Street Capital Management L.P. grew its holdings in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 93.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,800,000 shares of the company’s stock after buying an additional 1,350,000 shares during the quarter. Surgery Partners accounts for 9.0% of King Street Capital Management L.P.’s portfolio, making the stock its 3rd largest position. King Street Capital Management L.P. owned about 2.20% of Surgery Partners worth $59,276,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of Surgery Partners by 19.5% during the third quarter. Franklin Resources Inc. now owns 21,324 shares of the company’s stock worth $677,000 after purchasing an additional 3,487 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Surgery Partners by 3.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 189,436 shares of the company’s stock valued at $6,107,000 after buying an additional 5,551 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Surgery Partners by 25.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 67,443 shares of the company’s stock valued at $1,428,000 after acquiring an additional 13,588 shares in the last quarter. Inspire Investing LLC increased its position in shares of Surgery Partners by 47.5% during the fourth quarter. Inspire Investing LLC now owns 19,034 shares of the company’s stock worth $403,000 after acquiring an additional 6,131 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Surgery Partners by 66.1% in the fourth quarter. KBC Group NV now owns 3,962 shares of the company’s stock worth $84,000 after acquiring an additional 1,577 shares in the last quarter.

Surgery Partners Price Performance

Shares of NASDAQ SGRY opened at $22.20 on Friday. Surgery Partners, Inc. has a 1-year low of $19.50 and a 1-year high of $33.97. The firm has a market capitalization of $2.85 billion, a PE ratio of -46.25, a P/E/G ratio of 19.21 and a beta of 1.96. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.80 and a quick ratio of 1.66. The business’s fifty day moving average price is $22.61 and its two-hundred day moving average price is $23.42.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $864.40 million for the quarter, compared to analysts’ expectations of $828.09 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. On average, research analysts expect that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Surgery Partners in a report on Tuesday, March 25th. Macquarie lowered their price objective on Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $35.00 target price on shares of Surgery Partners in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.75.

Insider Activity

In related news, CFO David T. Doherty sold 6,733 shares of Surgery Partners stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $24.02, for a total transaction of $161,726.66. Following the sale, the chief financial officer now directly owns 150,868 shares in the company, valued at $3,623,849.36. The trade was a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marissa Brittenham sold 3,156 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the transaction, the insider now owns 63,408 shares of the company’s stock, valued at $1,527,498.72. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

About Surgery Partners

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.