Pier Capital LLC Acquires 52,611 Shares of Surgery Partners, Inc. (NASDAQ:SGRY)

Pier Capital LLC boosted its holdings in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 382,493 shares of the company’s stock after purchasing an additional 52,611 shares during the quarter. Pier Capital LLC’s holdings in Surgery Partners were worth $8,097,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV raised its stake in Surgery Partners by 66.1% during the 4th quarter. KBC Group NV now owns 3,962 shares of the company’s stock valued at $84,000 after purchasing an additional 1,577 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Surgery Partners by 747.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,831 shares of the company’s stock valued at $124,000 after acquiring an additional 3,379 shares during the period. MeadowBrook Investment Advisors LLC raised its holdings in Surgery Partners by 16.6% in the 4th quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company’s stock valued at $218,000 after acquiring an additional 1,460 shares in the last quarter. Empowered Funds LLC acquired a new stake in Surgery Partners during the fourth quarter worth $245,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Surgery Partners in the 4th quarter valued at $273,000.

Analyst Ratings Changes

SGRY has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. Bank of America assumed coverage on Surgery Partners in a research note on Monday, December 16th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Macquarie dropped their target price on Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.63.

Insider Buying and Selling

In related news, CEO Jason Eric Evans sold 26,520 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 560,698 shares of the company’s stock, valued at $14,381,903.70. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David T. Doherty sold 13,641 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $25.61, for a total value of $349,346.01. Following the completion of the transaction, the chief financial officer now owns 108,862 shares in the company, valued at $2,787,955.82. The trade was a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,622 shares of company stock worth $2,717,860 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $24.39 on Tuesday. The stock has a market capitalization of $3.11 billion, a P/E ratio of -50.81, a price-to-earnings-growth ratio of 19.21 and a beta of 2.73. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. Surgery Partners, Inc. has a 1 year low of $19.50 and a 1 year high of $33.97. The firm has a 50 day moving average of $23.99 and a 200-day moving average of $25.69.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The firm had revenue of $864.40 million during the quarter, compared to the consensus estimate of $828.09 million. As a group, sell-side analysts anticipate that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

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.