Hudson Bay Capital Management LP Lowers Stock Holdings in Surgery Partners, Inc. $SGRY

Hudson Bay Capital Management LP lowered its position in Surgery Partners, Inc. (NASDAQ:SGRY) by 28.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 339,609 shares of the company’s stock after selling 133,637 shares during the period. Hudson Bay Capital Management LP’s holdings in Surgery Partners were worth $7,349,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Pentwater Capital Management LP raised its holdings in Surgery Partners by 66.9% during the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock valued at $252,777,000 after acquiring an additional 4,681,000 shares during the period. Glenview Capital Management LLC purchased a new position in shares of Surgery Partners in the second quarter valued at about $33,995,000. UBS Group AG boosted its stake in shares of Surgery Partners by 50.6% in the third quarter. UBS Group AG now owns 3,690,922 shares of the company’s stock worth $79,872,000 after acquiring an additional 1,239,549 shares during the period. King Street Capital Management L.P. grew its position in shares of Surgery Partners by 24.5% during the second quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company’s stock worth $138,382,000 after purchasing an additional 1,225,000 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Surgery Partners during the second quarter worth about $26,609,000.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays lowered their price target on Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. TD Cowen cut their price objective on shares of Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, March 5th. US Capital Advisors set a $21.00 price objective on shares of Surgery Partners in a research report on Wednesday, March 11th. Benchmark reissued a “buy” rating on shares of Surgery Partners in a report on Tuesday, March 3rd. Finally, Jefferies Financial Group restated a “buy” rating on shares of Surgery Partners in a research report on Wednesday, March 4th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.36.

Surgery Partners Stock Down 2.1%

NASDAQ SGRY opened at $11.80 on Friday. The stock has a 50 day moving average price of $14.61 and a 200-day moving average price of $17.42. Surgery Partners, Inc. has a one year low of $11.61 and a one year high of $24.60. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.71 and a current ratio of 1.87. The company has a market capitalization of $1.53 billion, a P/E ratio of -19.03 and a beta of 1.95.

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

Surgery Partners announced that its board has initiated a stock repurchase plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Surgery Partners

In related news, insider Danielle Burkhalter sold 3,469 shares of Surgery Partners stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $12.83, for a total value of $44,507.27. Following the completion of the transaction, the insider owned 76,864 shares in the company, valued at approximately $986,165.12. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Marissa Brittenham sold 3,657 shares of Surgery Partners stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $12.54, for a total value of $45,858.78. Following the completion of the transaction, the insider owned 94,196 shares of the company’s stock, valued at approximately $1,181,217.84. This represents a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 96,896 shares of company stock worth $1,284,058. 2.70% of the stock is currently owned by corporate insiders.

Surgery Partners 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.