AlphaCentric Advisors LLC Takes Position in Surgery Partners, Inc. (NASDAQ:SGRY)

AlphaCentric Advisors LLC purchased a new position in Surgery Partners, Inc. (NASDAQ:SGRY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,684 shares of the company’s stock, valued at approximately $374,000.

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of Surgery Partners by 3.1% in the third quarter. FMR LLC now owns 18,311,867 shares of the company’s stock valued at $590,375,000 after purchasing an additional 546,869 shares during the period. Janus Henderson Group PLC lifted its position in shares of Surgery Partners by 27.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company’s stock worth $177,235,000 after purchasing an additional 1,184,450 shares during the period. Geode Capital Management LLC boosted its stake in shares of Surgery Partners by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company’s stock valued at $60,117,000 after purchasing an additional 42,897 shares in the last quarter. King Street Capital Management L.P. purchased a new position in Surgery Partners during the third quarter valued at approximately $46,748,000. Finally, Victory Capital Management Inc. raised its stake in Surgery Partners by 140.4% in the third quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company’s stock worth $42,892,000 after buying an additional 777,038 shares in the last quarter.

Insider Activity at Surgery Partners

In other news, CFO David T. Doherty sold 13,641 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $25.61, for a total transaction of $349,346.01. Following the sale, the chief financial officer now directly owns 108,862 shares of the company’s stock, valued at $2,787,955.82. This represents a 11.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason Eric Evans sold 26,520 shares of Surgery Partners stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $25.65, for a total value of $680,238.00. Following the completion of the transaction, the chief executive officer now owns 560,698 shares of the company’s stock, valued at approximately $14,381,903.70. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,733 shares of company stock worth $2,480,106. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SGRY. Macquarie reaffirmed an “outperform” rating and set a $34.00 target price on shares of Surgery Partners in a research report on Tuesday, November 19th. JPMorgan Chase & Co. cut their target price on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Royal Bank of Canada decreased their price target on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, Bank of America began coverage on shares of Surgery Partners in a research report on Monday, December 16th. They issued a “buy” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.56.

Surgery Partners Price Performance

NASDAQ:SGRY opened at $25.87 on Monday. Surgery Partners, Inc. has a one year low of $19.50 and a one year high of $35.29. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The firm’s fifty day moving average is $22.15 and its two-hundred day moving average is $26.74.

About Surgery Partners

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.