Principal Financial Group Inc. Invests $1.47 Million in Surgery Partners, Inc. (NASDAQ:SGRY)

Principal Financial Group Inc. acquired a new stake in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,552 shares of the company's stock, valued at approximately $1,469,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. King Street Capital Management L.P. purchased a new position in Surgery Partners in the third quarter worth $46,748,000. Royce & Associates LP increased its holdings in shares of Surgery Partners by 12.2% in the 3rd quarter. Royce & Associates LP now owns 510,261 shares of the company's stock valued at $16,451,000 after purchasing an additional 55,545 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 42,897 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new stake in Surgery Partners during the second quarter worth about $4,163,000. Finally, Rhumbline Advisers grew its holdings in shares of Surgery Partners by 19.6% in the 2nd quarter. Rhumbline Advisers now owns 127,952 shares of the company's stock worth $3,044,000 after acquiring an additional 20,963 shares during the period.

Surgery Partners Trading Down 1.0 %

Shares of NASDAQ SGRY traded down $0.21 on Friday, reaching $21.08. 756,873 shares of the company traded hands, compared to its average volume of 869,736. The stock has a market capitalization of $2.68 billion, a PE ratio of -43.92, a P/E/G ratio of 17.40 and a beta of 2.58. Surgery Partners, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $35.29. 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 company has a 50 day moving average of $23.85 and a 200 day moving average of $27.44.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). The company had revenue of $770.40 million during the quarter, compared to analysts' expectations of $768.99 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. Surgery Partners's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. On average, equities research analysts forecast that Surgery Partners, Inc. will post 0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SGRY shares. Bank of America assumed coverage on shares of Surgery Partners in a report on Monday, December 16th. They set a "buy" rating and a $30.00 target price for the company. UBS Group initiated coverage on Surgery Partners in a report on Monday, October 14th. They issued a "buy" rating and a $38.00 price target for the company. KeyCorp began coverage on Surgery Partners in a research note on Friday, October 11th. They set a "sector weight" rating on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $43.00 target price on shares of Surgery Partners in a research note on Friday, October 4th. Finally, Macquarie restated an "outperform" rating and issued a $34.00 target price on shares of Surgery Partners in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.56.

Surgery Partners 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.