Point72 Asset Management L.P. Sells 693,209 Shares of Surgery Partners, Inc. (NASDAQ:SGRY)

Point72 Asset Management L.P. lowered its stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 56.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 537,915 shares of the company’s stock after selling 693,209 shares during the quarter. Point72 Asset Management L.P.’s holdings in Surgery Partners were worth $17,342,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. KBC Group NV increased its position in Surgery Partners by 31.8% during the third quarter. KBC Group NV now owns 2,385 shares of the company’s stock valued at $77,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Surgery Partners by 102.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock valued at $80,000 after acquiring an additional 1,375 shares during the last quarter. Quarry LP lifted its holdings in Surgery Partners by 133.1% during the 2nd quarter. Quarry LP now owns 3,082 shares of the company’s stock valued at $73,000 after buying an additional 1,760 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Surgery Partners by 747.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock worth $124,000 after purchasing an additional 3,379 shares during the period. Finally, Creative Planning purchased a new position in Surgery Partners during the 3rd quarter valued at about $258,000.

Analyst Ratings Changes

SGRY has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday. UBS Group started coverage on shares of Surgery Partners in a research note on Monday, October 14th. They issued a “buy” rating and a $38.00 target price for the company. Benchmark restated a “buy” rating and set a $50.00 price target on shares of Surgery Partners in a research note on Monday, August 26th. 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 report on Wednesday, November 20th. Finally, Macquarie reissued an “outperform” rating and set a $34.00 price objective on shares of Surgery Partners in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Surgery Partners currently has an average rating of “Moderate Buy” and an average price target of $37.38.

Surgery Partners Price Performance

NASDAQ SGRY opened at $21.89 on Friday. Surgery Partners, Inc. has a 1 year low of $21.10 and a 1 year high of $36.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. The company has a fifty day moving average of $28.00 and a 200 day moving average of $28.10.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $770.40 million during the quarter, compared to analyst estimates of $768.99 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. On average, research analysts anticipate that Surgery Partners, Inc. will post 0.73 earnings per share for the current fiscal year.

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.