Irenic Capital Management LP Grows Holdings in Surgery Partners, Inc. $SGRY

Irenic Capital Management LP raised its stake in Surgery Partners, Inc. (NASDAQ:SGRY) by 740.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 711,000 shares of the company’s stock after buying an additional 626,380 shares during the period. Surgery Partners comprises 0.6% of Irenic Capital Management LP’s holdings, making the stock its 27th biggest holding. Irenic Capital Management LP owned about 0.54% of Surgery Partners worth $8,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of SGRY. Pentwater Capital Management LP lifted its stake in Surgery Partners by 66.9% in the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock worth $252,777,000 after acquiring an additional 4,681,000 shares during the period. UBS Group AG increased its position in Surgery Partners by 111.4% during the 4th quarter. UBS Group AG now owns 7,803,974 shares of the company’s stock valued at $120,571,000 after purchasing an additional 4,113,052 shares during the period. Goldman Sachs Group Inc. increased its position in Surgery Partners by 528.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,959,686 shares of the company’s stock valued at $30,277,000 after purchasing an additional 1,647,714 shares during the period. Glenview Capital Management LLC purchased a new position in Surgery Partners during the 2nd quarter valued at about $33,995,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Surgery Partners by 25.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,860,215 shares of the company’s stock valued at $105,177,000 after purchasing an additional 988,956 shares in the last quarter.

Surgery Partners Stock Up 2.7%

Surgery Partners stock opened at $15.58 on Wednesday. The business’s 50-day simple moving average is $15.08 and its two-hundred day simple moving average is $14.44. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.69 and a current ratio of 1.86. The company has a market cap of $2.04 billion, a PE ratio of -25.97, a PEG ratio of 4.54 and a beta of 1.89. Surgery Partners, Inc. has a fifty-two week low of $11.41 and a fifty-two week high of $24.10.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.12. Surgery Partners had a negative net margin of 2.28% and a positive return on equity of 1.04%. The firm had revenue of $810.90 million during the quarter, compared to analysts’ expectations of $797.69 million. During the same quarter last year, the company posted $0.04 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Surgery Partners, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SGRY. Zacks Research upgraded shares of Surgery Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Surgery Partners in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group restated a “buy” rating and set a $17.00 target price on shares of Surgery Partners in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Surgery Partners currently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

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.