Penn Capital Management Company LLC Invests $2.94 Million in Surgery Partners, Inc. $SGRY

Penn Capital Management Company LLC bought a new position in shares of Surgery Partners, Inc. (NASDAQ:SGRY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 175,083 shares of the company’s stock, valued at approximately $2,941,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SGRY. PNC Financial Services Group Inc. raised its position in Surgery Partners by 239.6% during the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock valued at $35,000 after acquiring an additional 2,051 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Surgery Partners in the 2nd quarter worth approximately $38,000. Fifth Third Bancorp boosted its position in Surgery Partners by 5,324.0% in the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after purchasing an additional 3,993 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Surgery Partners by 45,640.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after purchasing an additional 2,282 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Surgery Partners during the 3rd quarter worth approximately $121,000.

Wall Street Analyst Weigh In

SGRY has been the subject of several recent research reports. Raymond James Financial set a $18.00 target price on shares of Surgery Partners in a report on Tuesday, August 11th. Benchmark reissued a “buy” rating on shares of Surgery Partners in a report on Tuesday, August 11th. TD Cowen raised their price target on shares of Surgery Partners from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Surgery Partners in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a research report on Friday, August 21st. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.45.

Surgery Partners Stock Down 1.7%

Shares of SGRY opened at $13.69 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.78 and a debt-to-equity ratio of 1.18. Surgery Partners, Inc. has a 12 month low of $11.41 and a 12 month high of $23.44. The stock’s 50 day moving average is $15.49 and its two-hundred day moving average is $14.38. The firm has a market cap of $1.79 billion, a P/E ratio of -19.56, a PEG ratio of 4.22 and a beta of 1.91.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $848.90 million during the quarter, compared to analysts’ expectations of $830.03 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. Analysts predict that Surgery Partners, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Transactions at Surgery Partners

In related news, Director Teresa Deluca purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average price of $14.35 per share, with a total value of $143,500.00. Following the acquisition, the director owned 66,843 shares in the company, valued at $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

About Surgery Partners

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.