Gabelli Funds LLC Sells 80,700 Shares of Surgery Partners, Inc. $SGRY

Gabelli Funds LLC cut its stake in Surgery Partners, Inc. (NASDAQ:SGRY) by 44.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,197 shares of the company’s stock after selling 80,700 shares during the period. Gabelli Funds LLC owned about 0.08% of Surgery Partners worth $1,206,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP bought a new stake in Surgery Partners during the first quarter worth about $486,000. PNC Financial Services Group Inc. increased its position in shares of Surgery Partners by 239.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock valued at $35,000 after purchasing an additional 2,051 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Surgery Partners by 7.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company’s stock valued at $63,131,000 after purchasing an additional 389,831 shares during the last quarter. Swiss National Bank raised its holdings in shares of Surgery Partners by 1.1% during the 1st quarter. Swiss National Bank now owns 153,500 shares of the company’s stock valued at $1,830,000 after buying an additional 1,700 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Surgery Partners by 15.7% in the 1st quarter. Principal Financial Group Inc. now owns 140,574 shares of the company’s stock worth $1,676,000 after buying an additional 19,056 shares during the last quarter.

Surgery Partners Trading Down 3.1%

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

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

Analysts Set New Price Targets

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

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.