King Street Capital Management L.P. Invests $46.75 Million in Surgery Partners, Inc. (NASDAQ:SGRY)

King Street Capital Management L.P. bought a new position in shares of Surgery Partners, Inc. (NASDAQ:SGRY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,450,000 shares of the company’s stock, valued at approximately $46,748,000. Surgery Partners makes up about 30.8% of King Street Capital Management L.P.’s holdings, making the stock its biggest position.

A number of other institutional investors also recently modified their holdings of SGRY. Quarry LP raised its stake in Surgery Partners by 133.1% in the 2nd quarter. Quarry LP now owns 3,082 shares of the company’s stock worth $73,000 after purchasing an additional 1,760 shares in the last quarter. KBC Group NV grew its position in shares of Surgery Partners by 31.8% during the 3rd quarter. KBC Group NV now owns 2,385 shares of the company’s stock worth $77,000 after purchasing an additional 576 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Surgery Partners by 747.6% during the third 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. Creative Planning acquired a new stake in shares of Surgery Partners in the third quarter valued at approximately $258,000. Finally, Versor Investments LP bought a new stake in shares of Surgery Partners in the third quarter valued at approximately $271,000.

Surgery Partners Stock Down 3.1 %

Shares of NASDAQ:SGRY opened at $21.55 on Wednesday. The business has a fifty day simple moving average of $27.58 and a 200 day simple moving average of $28.09. 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 has a market cap of $2.74 billion, a P/E ratio of -44.90, a P/E/G ratio of 18.22 and a beta of 2.58. Surgery Partners, Inc. has a 12-month low of $21.10 and a 12-month high of $36.92.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The business had revenue of $770.40 million for the quarter, compared to analyst estimates of $768.99 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 earnings per share. Analysts predict that Surgery Partners, Inc. will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. UBS Group began coverage on Surgery Partners in a research note on Monday, October 14th. They set a “buy” rating and a $38.00 price objective on the stock. Royal Bank of Canada decreased their price target on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Benchmark reaffirmed a “buy” rating and set a $50.00 price objective on shares of Surgery Partners in a research report on Monday, August 26th. Macquarie restated an “outperform” rating and set a $34.00 target price on shares of Surgery Partners in a research note on Tuesday, November 19th. Finally, KeyCorp initiated coverage on shares of Surgery Partners in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Surgery Partners currently has an average rating of “Moderate Buy” and a consensus price target of $37.38.

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.