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

Cannell & Spears LLC purchased a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,300 shares of the company's stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Surgery Partners by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 7,618,404 shares of the company's stock valued at $161,282,000 after purchasing an additional 172,271 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Surgery Partners by 27.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,497,368 shares of the company's stock valued at $177,235,000 after acquiring an additional 1,184,450 shares in the last quarter. Geode Capital Management LLC grew its stake in Surgery Partners by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company's stock worth $60,117,000 after buying an additional 42,897 shares in the last quarter. King Street Capital Management L.P. bought a new position in Surgery Partners in the third quarter valued at approximately $46,748,000. Finally, American Century Companies Inc. lifted its stake in Surgery Partners by 223.9% during the fourth quarter. American Century Companies Inc. now owns 1,399,756 shares of the company's stock worth $29,633,000 after purchasing an additional 967,534 shares during the last quarter.

Surgery Partners Stock Down 7.5 %

Shares of Surgery Partners stock traded down $1.72 during midday trading on Friday, hitting $21.11. The company had a trading volume of 1,851,767 shares, compared to its average volume of 1,083,113. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.80. The company has a 50 day moving average of $24.57 and a 200 day moving average of $25.28. Surgery Partners, Inc. has a 52-week low of $19.50 and a 52-week high of $33.97. The stock has a market capitalization of $2.69 billion, a P/E ratio of -43.98, a P/E/G ratio of 19.21 and a beta of 2.40.

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Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $864.40 million during the quarter, compared to analysts' expectations of $828.09 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. On average, equities analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SGRY has been the subject of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 price target on shares of Surgery Partners in a research note on Tuesday, March 25th. Bank of America started coverage on Surgery Partners in a research report on Monday, December 16th. They set a "buy" rating and a $30.00 target price on the stock. Finally, Macquarie cut their price objective on shares of Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $36.63.

Insider Activity at Surgery Partners

In other Surgery Partners news, CFO David T. Doherty sold 13,641 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $25.61, for a total transaction of $349,346.01. Following the transaction, the chief financial officer now directly owns 108,862 shares in the company, valued at $2,787,955.82. This represents a 11.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason Eric Evans sold 26,520 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $25.65, for a total transaction of $680,238.00. Following the sale, the chief executive officer now directly owns 560,698 shares of the company's stock, valued at $14,381,903.70. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,622 shares of company stock valued at $2,717,860. Corporate insiders own 2.30% of the company's stock.

Surgery Partners Company 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.