Cannell & Spears LLC Acquires New Position in Surgery Partners, Inc. (NASDAQ:SGRY)

Cannell & Spears LLC bought a new position in Surgery Partners, Inc. (NASDAQ:SGRY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,300 shares of the company’s stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new stake in shares of Surgery Partners during the 3rd quarter worth approximately $1,469,000. King Street Capital Management L.P. acquired a new stake in Surgery Partners in the third quarter worth $46,748,000. Geode Capital Management LLC lifted its stake in Surgery Partners by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company’s stock valued at $60,117,000 after buying an additional 42,897 shares during the last quarter. NFJ Investment Group LLC acquired a new position in shares of Surgery Partners during the third quarter valued at $1,688,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Surgery Partners during the fourth quarter worth about $374,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on SGRY. Bank of America began coverage on shares of Surgery Partners in a research report on Monday, December 16th. They issued a “buy” rating and a $30.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, December 3rd. Macquarie decreased their price objective on Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Surgery Partners in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.63.

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $23.48 on Wednesday. The company has a 50-day moving average of $24.44 and a 200-day moving average of $25.43. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -48.92, a price-to-earnings-growth ratio of 19.21 and a beta of 2.73. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. Surgery Partners, Inc. has a twelve month low of $19.50 and a twelve month high of $33.97.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, March 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. The firm had revenue of $864.40 million for the quarter, compared to analyst estimates of $828.09 million. Analysts forecast that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Insider Activity

In other Surgery Partners news, insider Harrison R. Bane sold 56,315 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $25.64, for a total transaction of $1,443,916.60. Following the sale, the insider now directly owns 107,037 shares of the company’s stock, valued at $2,744,428.68. The trade was a 34.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David T. Doherty sold 13,641 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $25.61, for a total value of $349,346.01. Following the completion of the sale, the chief financial officer now directly owns 108,862 shares of the company’s stock, valued at approximately $2,787,955.82. This represents a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,622 shares of company stock valued at $2,717,860 over the last three months. Insiders own 2.30% of the company’s stock.

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.