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

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

A number of other large investors also recently modified their holdings of the company. Bamco Inc. NY raised its position in Surgery Partners by 100.0% during the 1st quarter. Bamco Inc. NY now owns 90,000 shares of the company's stock worth $2,685,000 after purchasing an additional 45,000 shares during the last quarter. Lombard Odier Asset Management Europe Ltd bought a new position in Surgery Partners during the 2nd quarter worth $4,163,000. Rhumbline Advisers raised its position in Surgery Partners by 19.6% during the 2nd quarter. Rhumbline Advisers now owns 127,952 shares of the company's stock worth $3,044,000 after purchasing an additional 20,963 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Surgery Partners during the 2nd quarter worth $29,288,000. Finally, Janus Henderson Group PLC raised its position in Surgery Partners by 7,987.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company's stock worth $74,701,000 after purchasing an additional 2,473,282 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on SGRY shares. Citigroup lowered their price objective on Surgery Partners from $38.00 to $36.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Benchmark reissued a "buy" rating and issued a $50.00 price objective on shares of Surgery Partners in a research report on Monday, August 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $43.00 price objective on shares of Surgery Partners in a research report on Friday, October 4th. Macquarie reissued an "outperform" rating and issued a $34.00 price objective on shares of Surgery Partners in a research report on Tuesday, November 19th. Finally, UBS Group started coverage on Surgery Partners in a research report on Monday, October 14th. They issued a "buy" rating and a $38.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $38.71.

Surgery Partners Stock Down 1.5 %

SGRY stock traded down $0.34 during mid-day trading on Friday, reaching $23.01. 853,953 shares of the company traded hands, compared to its average volume of 1,278,711. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -47.94, a P/E/G ratio of 19.44 and a beta of 2.76. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. Surgery Partners, Inc. has a fifty-two week low of $21.36 and a fifty-two week high of $36.92. The firm's 50 day moving average price is $29.86 and its 200 day moving average price is $28.36.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. As a group, equities research analysts predict that Surgery Partners, Inc. will post 0.73 EPS for the current fiscal year.

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.