Pentwater Capital Management LP Takes Position in Surgery Partners, Inc. $SGRY

Pentwater Capital Management LP acquired a new position in shares of Surgery Partners, Inc. (NASDAQ:SGRY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,630,000 shares of the company’s stock, valued at approximately $195,384,000. Surgery Partners comprises approximately 1.2% of Pentwater Capital Management LP’s portfolio, making the stock its 17th largest holding. Pentwater Capital Management LP owned about 8.88% of Surgery Partners at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE acquired a new stake in shares of Surgery Partners during the second quarter valued at about $20,374,000. Man Group plc acquired a new position in shares of Surgery Partners in the second quarter valued at approximately $11,719,000. Jupiter Topco LLC acquired a new position in shares of Surgery Partners in the second quarter valued at approximately $233,220,000. Hsbc Holdings PLC bought a new position in Surgery Partners in the 2nd quarter valued at approximately $48,912,000. Finally, Whitefort Capital Management LP acquired a new stake in Surgery Partners during the 2nd quarter worth approximately $15,142,378,000.

Surgery Partners Price Performance

SGRY stock opened at $14.04 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -20.06, a PEG ratio of 3.81 and a beta of 1.91. The company’s fifty day simple moving average is $15.52 and its 200 day simple moving average is $14.39. Surgery Partners, Inc. has a 12-month low of $11.41 and a 12-month high of $23.44.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The firm had revenue of $848.90 million during the quarter, compared to analyst estimates of $830.03 million. During the same period last year, the company posted $0.17 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts expect that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

SGRY has been the subject of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $18.00 price target on shares of Surgery Partners in a research report on Tuesday, August 11th. TD Cowen raised their target price on Surgery Partners from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Jefferies Financial Group reiterated a “buy” rating and issued a $17.00 price target on shares of Surgery Partners in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research report on Friday, August 21st. Finally, Royal Bank Of Canada cut their price objective on Surgery Partners from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.45.

Insider Transactions at Surgery Partners

In other Surgery Partners news, Director Teresa Deluca purchased 10,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the acquisition, the director owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. This represents a 17.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

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.