Kennedy Capital Management LLC Boosts Stake in Surgery Partners, Inc. (NASDAQ:SGRY)

Kennedy Capital Management LLC raised its position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 58.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 392,087 shares of the company's stock after acquiring an additional 145,032 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.31% of Surgery Partners worth $8,300,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SGRY. Geode Capital Management LLC increased its position 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 acquiring an additional 42,897 shares during the period. Sanctuary Advisors LLC acquired a new stake in Surgery Partners during the 3rd quarter worth approximately $626,000. Franklin Resources Inc. raised its position in Surgery Partners by 19.5% during the 3rd quarter. Franklin Resources Inc. now owns 21,324 shares of the company's stock worth $677,000 after purchasing an additional 3,487 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Surgery Partners during the 3rd quarter valued at approximately $1,469,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Surgery Partners by 3.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 189,436 shares of the company's stock valued at $6,107,000 after acquiring an additional 5,551 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have weighed in on SGRY. Macquarie dropped their price objective on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Bank of America began coverage on shares of Surgery Partners in a report on Monday, December 16th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $35.00 target price on shares of Surgery Partners in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $36.63.

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Insider Transactions at Surgery Partners

In other Surgery Partners news, insider Harrison R. Bane sold 56,315 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $25.64, for a total value of $1,443,916.60. Following the completion of the sale, the insider now owns 107,037 shares of the company's stock, valued at approximately $2,744,428.68. This trade represents a 34.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marissa Brittenham sold 3,156 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $24.09, for a total value of $76,028.04. Following the sale, the insider now owns 63,408 shares in the company, valued at approximately $1,527,498.72. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,622 shares of company stock worth $2,717,860 in the last three months. Insiders own 2.30% of the company's stock.

Surgery Partners Stock Performance

NASDAQ:SGRY traded up $0.33 during mid-day trading on Monday, reaching $21.32. The company's stock had a trading volume of 907,631 shares, compared to its average volume of 1,100,227. Surgery Partners, Inc. has a 12-month low of $19.50 and a 12-month high of $33.97. The firm's fifty day moving average price is $23.99 and its two-hundred day moving average price is $24.71. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The stock has a market cap of $2.72 billion, a P/E ratio of -44.42, a PEG ratio of 19.21 and a beta of 2.40.

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

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.