Raymond James Financial Inc. Makes New Investment in Surgery Partners, Inc. (NASDAQ:SGRY)

Raymond James Financial Inc. purchased a new position in Surgery Partners, Inc. (NASDAQ:SGRY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 478,488 shares of the company’s stock, valued at approximately $10,130,000. Raymond James Financial Inc. owned about 0.38% of Surgery Partners as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in shares of Surgery Partners in the 3rd quarter worth about $1,469,000. King Street Capital Management L.P. bought a new stake in shares of Surgery Partners during the third quarter valued at about $46,748,000. Geode Capital Management LLC lifted its holdings 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 worth $60,117,000 after buying an additional 42,897 shares in the last quarter. NFJ Investment Group LLC purchased a new stake in shares of Surgery Partners in the third quarter worth about $1,688,000. Finally, FMR LLC lifted its holdings in shares of Surgery Partners by 3.1% in the third quarter. FMR LLC now owns 18,311,867 shares of the company’s stock worth $590,375,000 after buying an additional 546,869 shares in the last quarter.

Insider Transactions at Surgery Partners

In other Surgery Partners news, insider Harrison R. Bane sold 56,315 shares of the business’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 transaction, the insider now owns 107,037 shares of the company’s stock, valued at approximately $2,744,428.68. The trade was a 34.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David T. Doherty sold 6,733 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 150,868 shares of the company’s stock, valued at approximately $3,623,849.36. This trade represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,622 shares of company stock valued at $2,717,860 in the last quarter. 2.30% of the stock is owned by insiders.

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $24.21 on Friday. The stock has a market cap of $3.09 billion, a P/E ratio of -50.44, a price-to-earnings-growth ratio of 19.21 and a beta of 2.73. The firm’s fifty day simple moving average is $23.93 and its 200 day simple moving average is $25.82. Surgery Partners, Inc. has a twelve month low of $19.50 and a twelve month high of $33.97. 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 (NASDAQ:SGRY) last announced its earnings results on Monday, March 3rd. The company reported $0.39 EPS for the quarter, beating 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. As a group, research analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Macquarie lowered their target price on shares of Surgery Partners from $34.00 to $33.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. Finally, Bank of America assumed coverage on shares of Surgery Partners in a research note on Monday, December 16th. They issued a “buy” rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Surgery Partners has a consensus rating of “Moderate Buy” and a consensus target price of $36.63.

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.