Elk Creek Partners LLC purchased a new position in Surgery Partners, Inc. (NASDAQ:SGRY) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 434,657 shares of the company’s stock, valued at approximately $9,888,000. Elk Creek Partners LLC owned 0.89% of Surgery Partners as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ameriprise Financial Inc. increased its position in Surgery Partners by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 229,575 shares of the company’s stock worth $5,223,000 after buying an additional 605 shares during the period. Alliancebernstein L.P. increased its position in Surgery Partners by 1.1% in the 2nd quarter. Alliancebernstein L.P. now owns 28,400 shares of the company’s stock worth $646,000 after buying an additional 300 shares during the period. Wells Fargo & Company MN increased its position in Surgery Partners by 25.7% in the 2nd quarter. Wells Fargo & Company MN now owns 499,712 shares of the company’s stock worth $11,368,000 after buying an additional 102,258 shares during the period. Kennedy Capital Management Inc. increased its position in Surgery Partners by 4.4% in the 2nd quarter. Kennedy Capital Management Inc. now owns 315,361 shares of the company’s stock worth $7,174,000 after buying an additional 13,320 shares during the period. Finally, Campbell Newman Asset Management Inc. increased its position in Surgery Partners by 4.9% in the 2nd quarter. Campbell Newman Asset Management Inc. now owns 12,649 shares of the company’s stock worth $288,000 after buying an additional 586 shares during the period. 38.06% of the stock is currently owned by institutional investors.
Shares of Surgery Partners, Inc. (NASDAQ:SGRY) traded up 3.09% during mid-day trading on Friday, hitting $10.00. The stock had a trading volume of 720,671 shares. The stock has a 50 day moving average of $12.00 and a 200-day moving average of $18.43. The stock has a market capitalization of $488.11 million, a P/E ratio of 65.79 and a beta of 2.02. Surgery Partners, Inc. has a 52 week low of $8.52 and a 52 week high of $24.05.
Several brokerages have commented on SGRY. Zacks Investment Research downgraded Surgery Partners from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 12th. Citigroup Inc. reaffirmed a “buy” rating and issued a $17.00 price target (down from $28.00) on shares of Surgery Partners in a research report on Friday, August 11th. Stifel Nicolaus lowered Surgery Partners from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $21.00 to $17.00 in a report on Wednesday, August 9th. BidaskClub raised Surgery Partners from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $16.00 price objective (down previously from $22.00) on shares of Surgery Partners in a report on Friday, September 8th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $19.33.
In other news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $19.00, for a total transaction of $502,657,369.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.50% of the stock is currently owned by company insiders.
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Surgery Partners Company Profile
Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.
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