Redwood Investments LLC Cuts Stake in Surgery Partners, Inc. (NASDAQ:SGRY)

Redwood Investments LLC lessened its stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,882 shares of the company’s stock after selling 1,614 shares during the period. Redwood Investments LLC owned 0.06% of Surgery Partners worth $1,628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in Surgery Partners by 110.2% during the 4th quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company’s stock worth $244,616,000 after buying an additional 6,057,477 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Surgery Partners by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 7,618,404 shares of the company’s stock worth $161,282,000 after acquiring an additional 172,271 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Surgery Partners by 18.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,577,861 shares of the company’s stock worth $75,739,000 after purchasing an additional 563,812 shares in the last quarter. King Street Capital Management L.P. increased its position in shares of Surgery Partners by 93.1% during the fourth quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company’s stock worth $59,276,000 after purchasing an additional 1,350,000 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Surgery Partners by 224.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company’s stock valued at $36,975,000 after purchasing an additional 1,208,639 shares during the last quarter.

Surgery Partners Price Performance

SGRY opened at $22.77 on Thursday. The stock’s 50-day moving average price is $22.55 and its 200 day moving average price is $23.32. Surgery Partners, Inc. has a 12-month low of $19.50 and a 12-month high of $33.97. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -47.44, a PEG ratio of 19.21 and a beta of 1.96. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The business had revenue of $776.00 million during the quarter, compared to analyst estimates of $777.77 million. During the same quarter last year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Insider Activity at Surgery Partners

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

Analyst Upgrades and Downgrades

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

Surgery Partners Company 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.