Gabelli Funds LLC Increases Position in Surgery Partners, Inc. $SGRY

Gabelli Funds LLC grew its position in Surgery Partners, Inc. (NASDAQ:SGRY) by 117.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 315,002 shares of the company’s stock after purchasing an additional 170,057 shares during the quarter. Gabelli Funds LLC owned approximately 0.25% of Surgery Partners worth $7,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaQuest LLC increased its holdings in Surgery Partners by 112.0% in the first quarter. AlphaQuest LLC now owns 1,058 shares of the company’s stock valued at $25,000 after buying an additional 559 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Surgery Partners by 86.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company’s stock worth $28,000 after acquiring an additional 542 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Surgery Partners in the 1st quarter valued at about $31,000. FNY Investment Advisers LLC acquired a new stake in shares of Surgery Partners during the 2nd quarter worth about $115,000. Finally, Prudential Financial Inc. purchased a new stake in Surgery Partners during the second quarter worth approximately $219,000.

Surgery Partners Stock Up 4.1%

Shares of NASDAQ:SGRY opened at $17.41 on Wednesday. Surgery Partners, Inc. has a 1-year low of $14.94 and a 1-year high of $26.16. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.88 and a quick ratio of 1.72. The stock has a market cap of $2.25 billion, a P/E ratio of -12.80 and a beta of 1.93. The firm has a fifty day moving average price of $19.14 and a 200 day moving average price of $21.18.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, November 10th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Surgery Partners had a negative net margin of 5.21% and a positive return on equity of 2.41%. The business had revenue of $821.50 million during the quarter, compared to analysts’ expectations of $823.55 million. During the same period in the previous year, the company posted $0.19 earnings per share. Surgery Partners’s quarterly revenue was up 6.6% on a year-over-year basis. Sell-side analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SGRY. Royal Bank Of Canada lowered their price target on Surgery Partners from $35.00 to $31.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Cantor Fitzgerald restated an “overweight” rating and set a $36.00 price objective on shares of Surgery Partners in a research report on Tuesday, October 7th. Mizuho dropped their target price on shares of Surgery Partners from $28.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, November 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surgery Partners in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Surgery Partners from $27.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.44.

About Surgery Partners

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.