GABELLI & Co INVESTMENT ADVISERS INC. Makes New Investment in Surgery Partners, Inc. $SGRY

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. invested approximately $1.85 million in Surgery Partners, acquiring 77,850 shares of the stock in the first quarter.
• Analysts currently have a consensus rating of “Moderate Buy” for Surgery Partners with a price target averaging $33.00.
• Director Teresa Deluca recently sold 20,018 shares at an average price of $22.74, significantly reducing her ownership position by 30.71%.

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 77,850 shares of the company's stock, valued at approximately $1,849,000. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.06% of Surgery Partners at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. AlphaQuest LLC raised its holdings in shares of Surgery Partners by 112.0% in the 1st quarter. AlphaQuest LLC now owns 1,058 shares of the company's stock worth $25,000 after purchasing an additional 559 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Surgery Partners by 86.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock worth $28,000 after purchasing an additional 542 shares during the period. Summit Securities Group LLC bought a new stake in shares of Surgery Partners in the 1st quarter worth approximately $31,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Surgery Partners in the 1st quarter worth approximately $65,000. Finally, State of Wyoming raised its holdings in shares of Surgery Partners by 94.4% in the 4th quarter. State of Wyoming now owns 4,002 shares of the company's stock worth $85,000 after purchasing an additional 1,943 shares during the period.

Surgery Partners Price Performance

Shares of SGRY traded down $0.03 during mid-day trading on Friday, reaching $22.69. 1,129,767 shares of the stock traded hands, compared to its average volume of 1,676,963. The firm has a fifty day moving average price of $22.36 and a 200 day moving average price of $22.81. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 36.65 and a beta of 1.82. The company has a current ratio of 1.93, a quick ratio of 1.78 and a debt-to-equity ratio of 1.10. Surgery Partners, Inc. has a 1 year low of $18.87 and a 1 year high of $33.90.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. The firm had revenue of $826.20 million during the quarter, compared to analyst estimates of $816.96 million. During the same period in the previous year, the business earned $0.21 EPS. The business's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SGRY has been the topic of a number of research reports. Bank of America initiated coverage on shares of Surgery Partners in a report on Monday, July 28th. They issued a "buy" rating and a $28.00 price target on the stock. Barclays lowered their price target on shares of Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 27th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.00.

Insider Transactions at Surgery Partners

In related news, Director Teresa Deluca sold 20,018 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $22.74, for a total value of $455,209.32. Following the completion of the transaction, the director directly owned 45,173 shares in the company, valued at approximately $1,027,234.02. The trade was a 30.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.70% of the company's stock.

Surgery Partners 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.