Hudson Bay Capital Management LP Boosts Position in Surgery Partners, Inc. (NASDAQ:SGRY)

Hudson Bay Capital Management LP raised its position in Surgery Partners, Inc. (NASDAQ:SGRY) by 954.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 555,767 shares of the company’s stock after buying an additional 503,050 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Surgery Partners were worth $11,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SGRY. Franklin Resources Inc. lifted its stake in Surgery Partners by 19.5% in the third quarter. Franklin Resources Inc. now owns 21,324 shares of the company’s stock valued at $677,000 after buying an additional 3,487 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Surgery Partners by 3.0% in the third 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. lifted its stake in Surgery Partners by 25.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 67,443 shares of the company’s stock valued at $1,428,000 after buying an additional 13,588 shares during the last quarter. Inspire Investing LLC lifted its stake in Surgery Partners by 47.5% in the fourth quarter. Inspire Investing LLC now owns 19,034 shares of the company’s stock valued at $403,000 after buying an additional 6,131 shares during the last quarter. Finally, KBC Group NV lifted its stake in Surgery Partners by 66.1% in the fourth quarter. KBC Group NV now owns 3,962 shares of the company’s stock valued at $84,000 after buying an additional 1,577 shares during the last quarter.

Surgery Partners Trading Down 2.1%

NASDAQ:SGRY opened at $22.20 on Monday. The stock has a fifty day moving average price of $22.61 and a two-hundred day moving average price of $23.37. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -46.25, a PEG ratio of 19.21 and a beta of 1.96. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. Surgery Partners, Inc. has a 1 year low of $19.50 and a 1 year high of $33.97.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

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

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.