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

Sterling Capital Management LLC grew its holdings in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 41.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,065 shares of the company's stock after acquiring an additional 24,694 shares during the period. Sterling Capital Management LLC owned about 0.07% of Surgery Partners worth $1,780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Principal Financial Group Inc. bought a new stake in Surgery Partners during the 3rd quarter valued at approximately $1,469,000. Geode Capital Management LLC raised its position in shares of Surgery Partners by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company's stock valued at $60,117,000 after buying an additional 42,897 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in shares of Surgery Partners in the fourth quarter worth $374,000. JPMorgan Chase & Co. boosted its position in shares of Surgery Partners by 3.0% during the third quarter. JPMorgan Chase & Co. now owns 189,436 shares of the company's stock worth $6,107,000 after acquiring an additional 5,551 shares during the last quarter. Finally, Norges Bank purchased a new position in Surgery Partners during the fourth quarter valued at $15,796,000.

Analysts Set New Price Targets

SGRY has been the topic of several research analyst 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. Macquarie cut their price target on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.63.

Surgery Partners Trading Up 0.6 %

NASDAQ SGRY traded up $0.13 on Friday, hitting $21.22. 627,536 shares of the stock were exchanged, compared to its average volume of 1,101,657. Surgery Partners, Inc. has a 52-week low of $19.50 and a 52-week high of $33.97. 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 stock has a fifty day moving average price of $23.63 and a two-hundred day moving average price of $24.51. The firm has a market capitalization of $2.71 billion, a P/E ratio of -44.21, a P/E/G ratio of 19.21 and a beta of 2.40.

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

Insider Activity

In other Surgery Partners news, insider Marissa Brittenham sold 3,156 shares of Surgery Partners stock in a transaction on Monday, March 10th. The stock was sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the sale, the insider now directly owns 63,408 shares of the company's stock, valued at $1,527,498.72. The trade was a 4.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David T. Doherty sold 6,733 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $24.02, for a total value of $161,726.66. Following the completion of the sale, the chief financial officer now owns 150,868 shares of the company's stock, valued at $3,623,849.36. This represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,622 shares of company stock valued at $2,717,860. Corporate insiders own 2.30% of the company's stock.

About Surgery Partners

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.