Cannon Global Investment Management LLC Purchases 11,000 Shares of Surgery Partners, Inc. (NASDAQ:SGRY)

Cannon Global Investment Management LLC raised its holdings in Surgery Partners, Inc. (NASDAQ:SGRY) by 61.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,000 shares of the company’s stock after acquiring an additional 11,000 shares during the period. Surgery Partners comprises about 1.5% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 15th largest holding. Cannon Global Investment Management LLC’s holdings in Surgery Partners were worth $935,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SGRY. Quarry LP grew its position in shares of Surgery Partners by 133.1% in the 2nd quarter. Quarry LP now owns 3,082 shares of the company’s stock valued at $73,000 after purchasing an additional 1,760 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Surgery Partners by 102.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 2,723 shares of the company’s stock worth $80,000 after acquiring an additional 1,375 shares during the period. EntryPoint Capital LLC raised its holdings in shares of Surgery Partners by 257.1% during the first quarter. EntryPoint Capital LLC now owns 6,399 shares of the company’s stock worth $191,000 after acquiring an additional 4,607 shares during the period. Creative Planning bought a new stake in Surgery Partners in the 3rd quarter valued at $258,000. Finally, Capstone Investment Advisors LLC boosted its stake in Surgery Partners by 38.7% in the 1st quarter. Capstone Investment Advisors LLC now owns 9,151 shares of the company’s stock worth $273,000 after purchasing an additional 2,551 shares during the period.

Analyst Ratings Changes

SGRY has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $49.00 price target on shares of Surgery Partners in a report on Wednesday, August 7th. StockNews.com downgraded Surgery Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Citigroup lowered their price objective on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. UBS Group started coverage on shares of Surgery Partners in a research report on Monday, October 14th. They issued a “buy” rating and a $38.00 target price for the company. Finally, KeyCorp began coverage on shares of Surgery Partners in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Surgery Partners currently has an average rating of “Moderate Buy” and a consensus target price of $39.63.

Surgery Partners Stock Performance

Shares of SGRY stock traded down $0.05 on Friday, reaching $28.75. The stock had a trading volume of 434,078 shares, compared to its average volume of 594,552. Surgery Partners, Inc. has a 12 month low of $22.25 and a 12 month high of $36.92. The company has a quick ratio of 1.69, a current ratio of 1.83 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of -106.48, a P/E/G ratio of 2.24 and a beta of 2.76. The firm’s 50-day moving average is $31.27 and its two-hundred day moving average is $28.19.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $762.10 million during the quarter, compared to analysts’ expectations of $735.94 million. Surgery Partners had a positive return on equity of 2.96% and a negative net margin of 1.17%. The business’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. On average, research analysts expect that Surgery Partners, Inc. will post 0.84 EPS for the current fiscal year.

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.