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

CastleKnight Management LP grew its position in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 135.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,700 shares of the company’s stock after buying an additional 115,600 shares during the period. CastleKnight Management LP owned approximately 0.16% of Surgery Partners worth $3,101,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SGRY. Pentwater Capital Management LP increased its position in shares of Surgery Partners by 66.9% in the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock worth $252,777,000 after purchasing an additional 4,681,000 shares during the period. UBS Group AG increased its position in shares of Surgery Partners by 111.4% in 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 period. Goldman Sachs Group Inc. increased its position in shares of Surgery Partners by 528.2% in 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 period. Glenview Capital Management LLC bought a new position in shares of Surgery Partners in the second quarter worth $33,995,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Surgery Partners by 25.5% in 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 period.

Surgery Partners Stock Performance

Surgery Partners stock opened at $14.23 on Thursday. Surgery Partners, Inc. has a 12-month low of $11.41 and a 12-month high of $24.10. The company has a quick ratio of 1.69, a current ratio of 1.86 and a debt-to-equity ratio of 1.17. The business’s 50-day moving average price is $13.90 and its two-hundred day moving average price is $14.47. The stock has a market cap of $1.86 billion, a PE ratio of -23.72, a P/E/G ratio of 4.53 and a beta of 1.96.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $810.90 million for the quarter, compared to analysts’ expectations of $797.69 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts expect that Surgery Partners, Inc. will post 0.25 earnings per share for the current fiscal year.

Surgery Partners declared that its board has initiated a share buyback plan on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 9.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

SGRY has been the topic of a number of recent analyst reports. US Capital Advisors set a $21.00 price target on Surgery Partners in a research report on Wednesday, March 11th. Mizuho decreased their price target on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Royal Bank Of Canada lowered their price objective on shares of Surgery Partners from $31.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research note on Tuesday, May 26th. Finally, TD Cowen cut their target price on Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Surgery Partners currently has a consensus rating of “Moderate Buy” and an average price target of $22.18.

About Surgery Partners

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.