Gabelli Funds LLC Decreases Stock Holdings in Surgery Partners, Inc. $SGRY

Gabelli Funds LLC trimmed its position in shares of Surgery Partners, Inc. (NASDAQ:SGRY) by 44.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,197 shares of the company’s stock after selling 80,700 shares during the period. Gabelli Funds LLC’s holdings in Surgery Partners were worth $1,206,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Surgery Partners by 239.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock worth $35,000 after purchasing an additional 2,051 shares during the last quarter. Fifth Third Bancorp raised its position in Surgery Partners by 5,324.0% during the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock valued at $48,000 after purchasing an additional 3,993 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Surgery Partners by 45,640.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock valued at $49,000 after purchasing an additional 2,282 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Surgery Partners during the 3rd quarter valued at approximately $121,000. Finally, Alpine Global Management LLC purchased a new stake in Surgery Partners in the 4th quarter worth approximately $175,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SGRY shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a research report on Tuesday, May 26th. Jefferies Financial Group restated a “buy” rating and set a $17.00 target price on shares of Surgery Partners in a report on Wednesday, May 6th. Finally, Zacks Research raised Surgery Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Surgery Partners has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Surgery Partners Price Performance

Shares of NASDAQ SGRY opened at $15.90 on Friday. Surgery Partners, Inc. has a 1 year low of $11.41 and a 1 year high of $24.10. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.86 and a quick ratio of 1.69. The company’s 50-day moving average is $15.19 and its 200 day moving average is $14.45. The stock has a market capitalization of $2.08 billion, a P/E ratio of -26.50, a P/E/G ratio of 4.91 and a beta of 1.89.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. Surgery Partners had a negative net margin of 2.28% and a positive return on equity of 1.04%. The company had revenue of $810.90 million during the quarter, compared to the consensus estimate of $797.69 million. During the same period in the prior year, the firm earned $0.04 earnings per share. Surgery Partners’s revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts expect that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Surgery Partners Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.