Surgery Partners, Inc. $SGRY Position Cut by Farallon Capital Management LLC

Farallon Capital Management LLC decreased its position in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 54.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 871,830 shares of the company’s stock after selling 1,054,170 shares during the quarter. Farallon Capital Management LLC’s holdings in Surgery Partners were worth $18,866,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SGRY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Surgery Partners by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock valued at $1,085,000 after purchasing an additional 2,015 shares during the last quarter. Millennium Management LLC boosted its stake in Surgery Partners by 1,253.7% during the 1st quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock valued at $4,804,000 after purchasing an additional 219,806 shares during the period. Empowered Funds LLC grew its position in Surgery Partners by 11.0% in the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock worth $305,000 after purchasing an additional 1,278 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Surgery Partners by 7.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 32,763 shares of the company’s stock worth $728,000 after purchasing an additional 2,284 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Surgery Partners by 0.5% in the second quarter. Geode Capital Management LLC now owns 1,916,384 shares of the company’s stock valued at $42,606,000 after purchasing an additional 9,836 shares during the period.

Surgery Partners Stock Down 2.8%

SGRY stock opened at $12.38 on Monday. The firm’s 50-day moving average is $14.95 and its two-hundred day moving average is $17.72. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -19.97 and a beta of 1.95. Surgery Partners, Inc. has a 52 week low of $12.25 and a 52 week high of $24.60. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 1.15.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.19). Surgery Partners had a negative net margin of 2.35% and a positive return on equity of 1.28%. The company had revenue of $885.00 million during the quarter, compared to the consensus estimate of $866.54 million. During the same quarter last year, the business earned $0.44 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. On average, analysts forecast that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Surgery Partners announced that its Board of Directors has approved a stock repurchase program on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Surgery Partners

In other Surgery Partners news, CFO David T. Doherty sold 14,574 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $13.84, for a total transaction of $201,704.16. Following the completion of the transaction, the chief financial officer directly owned 88,803 shares of the company’s stock, valued at approximately $1,229,033.52. This trade represents a 14.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Danielle Burkhalter sold 7,736 shares of Surgery Partners stock in a transaction on Friday, March 6th. The shares were sold at an average price of $13.60, for a total value of $105,209.60. Following the transaction, the insider owned 37,103 shares in the company, valued at approximately $504,600.80. This trade represents a 17.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,705 shares of company stock valued at $752,106 over the last three months. 2.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Surgery Partners in a report on Monday, December 29th. US Capital Advisors set a $21.00 target price on Surgery Partners in a research report on Wednesday. UBS Group reaffirmed a “buy” rating on shares of Surgery Partners in a research note on Wednesday. Jefferies Financial Group reiterated a “buy” rating on shares of Surgery Partners in a research report on Wednesday, March 4th. Finally, Benchmark reissued a “buy” rating on shares of Surgery Partners in a research note on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.36.

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.