Surgery Partners, Inc. (NASDAQ:SGRY) Shares Sold by Avidity Partners Management LP

Avidity Partners Management LP lessened its stake in Surgery Partners, Inc. (NASDAQ:SGRY) by 12.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,165,932 shares of the company’s stock after selling 172,068 shares during the period. Avidity Partners Management LP owned about 0.92% of Surgery Partners worth $37,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SGRY. Wellington Management Group LLP boosted its holdings in Surgery Partners by 23.2% during the third quarter. Wellington Management Group LLP now owns 8,022,700 shares of the company’s stock worth $234,664,000 after buying an additional 1,511,396 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Surgery Partners by 4.7% during the 4th quarter. Clearbridge Investments LLC now owns 5,525,671 shares of the company’s stock valued at $176,766,000 after acquiring an additional 247,762 shares during the period. Invesco Ltd. increased its stake in shares of Surgery Partners by 9.3% in the 3rd quarter. Invesco Ltd. now owns 3,604,357 shares of the company’s stock valued at $105,427,000 after purchasing an additional 305,216 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Surgery Partners by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,840,212 shares of the company’s stock worth $58,870,000 after purchasing an additional 149,146 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new position in Surgery Partners in the 3rd quarter worth about $42,705,000.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SGRY. Royal Bank of Canada restated an “outperform” rating and issued a $49.00 price objective on shares of Surgery Partners in a research report on Thursday, February 29th. Barclays began coverage on shares of Surgery Partners in a report on Wednesday, March 6th. They set an “equal weight” rating and a $35.00 price objective on the stock. StockNews.com raised shares of Surgery Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Citigroup decreased their price target on shares of Surgery Partners from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Benchmark reiterated a “buy” rating and set a $50.00 price objective on shares of Surgery Partners in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Surgery Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.86.

Surgery Partners Price Performance

SGRY stock traded down $0.78 during mid-day trading on Tuesday, reaching $24.89. The company’s stock had a trading volume of 607,300 shares, compared to its average volume of 902,768. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average is $25.89 and its two-hundred day moving average is $29.67. Surgery Partners, Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $45.79. The stock has a market cap of $3.16 billion, a PE ratio of 30.15, a P/E/G ratio of 2.02 and a beta of 2.73.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of $717.40 million during the quarter, compared to analysts’ expectations of $707.66 million. Surgery Partners had a return on equity of 3.65% and a net margin of 0.02%. Equities research analysts expect that Surgery Partners, Inc. will post 0.84 EPS for the current year.

Insider Transactions at Surgery Partners

In related news, insider Bradley R. Owens sold 6,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $27.65, for a total value of $165,900.00. Following the completion of the sale, the insider now owns 72,338 shares of the company’s stock, valued at $2,000,145.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bradley R. Owens sold 6,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $27.65, for a total value of $165,900.00. Following the completion of the sale, the insider now owns 72,338 shares of the company’s stock, valued at approximately $2,000,145.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jason Eric Evans sold 4,840 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $29.71, for a total transaction of $143,796.40. Following the sale, the chief executive officer now owns 459,670 shares of the company’s stock, valued at approximately $13,656,795.70. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

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.