Gabelli Funds LLC Acquires Shares of 144,945 Surgery Partners, Inc. $SGRY

Key Points

• Gabelli Funds LLC acquired 144,945 shares of Surgery Partners, Inc. for approximately $3.44 million, representing a 0.11% ownership stake at the end of the reporting period.
• In the 1st quarter, MetLife Investment Management LLC increased its stake in Surgery Partners by 715.8%, now owning 383,642 shares valued at $9.11 million, indicating strong institutional interest in the company.
• Surgery Partners reported a quarterly earnings of $0.17 EPS, exceeding analysts' expectations, with revenues totaling $826.20 million, representing an 8.4% increase year-over-year.

Gabelli Funds LLC acquired a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 144,945 shares of the company's stock, valued at approximately $3,442,000. Gabelli Funds LLC owned 0.11% of Surgery Partners at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. MetLife Investment Management LLC grew its stake in Surgery Partners by 715.8% in the 1st quarter. MetLife Investment Management LLC now owns 383,642 shares of the company's stock valued at $9,111,000 after buying an additional 336,615 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Surgery Partners in the first quarter valued at approximately $363,000. Groupe la Francaise bought a new position in shares of Surgery Partners during the first quarter worth approximately $3,491,000. AlphaQuest LLC lifted its holdings in Surgery Partners by 112.0% during 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 last quarter. Finally, Wellington Management Group LLP boosted 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 purchasing an additional 1,165,667 shares during the period.

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $22.69 on Friday. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -15.87 and a beta of 1.82. Surgery Partners, Inc. has a fifty-two week low of $18.87 and a fifty-two week high of $33.90. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.78 and a current ratio of 1.93. The stock has a fifty day moving average price of $22.36 and a 200-day moving average price of $22.81.

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

Analysts Set New Price Targets

Several research firms have weighed in on SGRY. Barclays lowered their price objective on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 27th. Bank of America started coverage on shares of Surgery Partners in a research note on Monday, July 28th. They issued a "buy" rating and a $28.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Insider Buying and Selling

In other Surgery Partners news, Director Teresa Deluca sold 20,018 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.74, for a total value of $455,209.32. Following the transaction, the director directly owned 45,173 shares of the company's stock, valued at $1,027,234.02. This trade represents a 30.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently 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.

Want to see what other hedge funds are holding SGRY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Surgery Partners, Inc. (NASDAQ:SGRY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.