Point72 Asset Management L.P. Takes $29.29 Million Position in Surgery Partners, Inc. (NASDAQ:SGRY)

Point72 Asset Management L.P. acquired a new stake in Surgery Partners, Inc. (NASDAQ:SGRY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,231,124 shares of the company’s stock, valued at approximately $29,288,000.

Several other institutional investors and hedge funds have also made changes to their positions in SGRY. Norges Bank purchased a new stake in shares of Surgery Partners in the fourth quarter valued at $25,765,000. Trexquant Investment LP purchased a new stake in shares of Surgery Partners in the fourth quarter valued at $342,000. Capstone Investment Advisors LLC purchased a new stake in shares of Surgery Partners in the fourth quarter valued at $211,000. Iron Triangle Partners LP purchased a new stake in shares of Surgery Partners in the fourth quarter valued at $33,415,000. Finally, Wellington Management Group LLP lifted its position in Surgery Partners by 3.7% during the fourth quarter. Wellington Management Group LLP now owns 8,318,176 shares of the company’s stock worth $266,098,000 after buying an additional 295,476 shares during the period.

Surgery Partners Stock Performance

Shares of NASDAQ:SGRY opened at $32.21 on Friday. The firm has a market capitalization of $4.09 billion, a PE ratio of 45.53, a P/E/G ratio of 2.48 and a beta of 2.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.83 and a quick ratio of 1.69. The business has a 50-day moving average of $30.57 and a two-hundred day moving average of $27.64. Surgery Partners, Inc. has a 12 month low of $22.05 and a 12 month high of $36.92.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. Surgery Partners had a positive return on equity of 2.96% and a negative net margin of 1.17%. The company had revenue of $762.10 million during the quarter, compared to analyst estimates of $735.94 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. As a group, research analysts forecast that Surgery Partners, Inc. will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SGRY shares. StockNews.com downgraded Surgery Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Citigroup reduced their target price on Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $43.00 target price on shares of Surgery Partners in a research report on Monday, August 19th. Macquarie started coverage on Surgery Partners in a research report on Friday, June 28th. They set an “outperform” rating and a $31.00 target price on the stock. Finally, Benchmark reiterated a “buy” rating and set a $50.00 target price on shares of Surgery Partners in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.86.

Surgery Partners 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.