GABELLI & Co INVESTMENT ADVISERS INC. Takes $1.85 Million Position 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 stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 77,850 shares of the company's stock, valued at approximately $1,849,000. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.06% of Surgery Partners at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SGRY. Janus Henderson Group PLC lifted its stake in Surgery Partners by 110.2% in the 4th quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock valued at $244,616,000 after buying an additional 6,057,477 shares in the last quarter. King Street Capital Management L.P. lifted its stake in Surgery Partners by 93.1% in the 4th quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company's stock valued at $59,276,000 after buying an additional 1,350,000 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Surgery Partners by 224.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,746,554 shares of the company's stock valued at $36,975,000 after buying an additional 1,208,639 shares in the last quarter. Wellington Management Group LLP lifted its stake in Surgery Partners by 19.7% in the 1st quarter. Wellington Management Group LLP now owns 7,091,756 shares of the company's stock valued at $168,429,000 after buying an additional 1,165,667 shares in the last quarter. Finally, Alpine Associates Management Inc. purchased a new position in Surgery Partners in the 1st quarter valued at about $13,539,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SGRY. Bank of America began coverage on shares of Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 price target on the stock. Barclays decreased 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 research note on Tuesday, May 27th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.00.

Surgery Partners Price Performance

SGRY stock traded down $0.03 during mid-day trading on Friday, reaching $22.69. The company's stock had a trading volume of 1,129,767 shares, compared to its average volume of 1,676,963. The stock has a market cap of $2.91 billion, a PE ratio of -15.87 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 fifty-two week low of $18.87 and a fifty-two week high of $33.90. The company's 50 day moving average is $22.36 and its two-hundred day moving average is $22.79.

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

Insider Activity

In other news, Director Teresa Deluca sold 20,018 shares of Surgery Partners stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $22.74, for a total transaction of $455,209.32. Following the sale, the director owned 45,173 shares of the company's stock, valued at approximately $1,027,234.02. The trade was a 30.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.

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.