Bain Capital Investors LLC purchased a new stake in shares of Surgery Partners, Inc. (NASDAQ:SGRY) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 26,455,651 shares of the company’s stock, valued at approximately $273,816,000. Surgery Partners accounts for approximately 5.3% of Bain Capital Investors LLC’s portfolio, making the stock its 6th largest position. Bain Capital Investors LLC owned 54.25% of Surgery Partners at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Alliancebernstein L.P. increased its stake in Surgery Partners by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 28,400 shares of the company’s stock valued at $646,000 after purchasing an additional 300 shares in the last quarter. Campbell Newman Asset Management Inc. grew its stake in shares of Surgery Partners by 4.9% in the second quarter. Campbell Newman Asset Management Inc. now owns 12,649 shares of the company’s stock worth $288,000 after acquiring an additional 586 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Surgery Partners by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 229,575 shares of the company’s stock worth $5,223,000 after acquiring an additional 605 shares during the period. Bank of America Corp DE grew its stake in shares of Surgery Partners by 0.9% in the first quarter. Bank of America Corp DE now owns 153,780 shares of the company’s stock worth $2,999,000 after acquiring an additional 1,315 shares during the period. Finally, Teachers Advisors LLC grew its stake in shares of Surgery Partners by 4.5% in the first quarter. Teachers Advisors LLC now owns 35,753 shares of the company’s stock worth $697,000 after acquiring an additional 1,544 shares during the period. 94.16% of the stock is owned by institutional investors.
A number of analysts have recently commented on the stock. Stifel Nicolaus downgraded shares of Surgery Partners from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $21.00 to $17.00 in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Surgery Partners from a “hold” rating to a “strong sell” rating in a report on Saturday, August 12th. Citigroup reissued a “buy” rating and issued a $17.00 price objective (down previously from $28.00) on shares of Surgery Partners in a report on Friday, August 11th. Raymond James Financial reissued a “market perform” rating on shares of Surgery Partners in a report on Wednesday, August 9th. Finally, Jefferies Group dropped their price objective on shares of Surgery Partners from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.57.
Surgery Partners, Inc. (NASDAQ SGRY) opened at $8.60 on Wednesday. Surgery Partners, Inc. has a 1-year low of $7.10 and a 1-year high of $24.05. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.09 and a quick ratio of 1.92. The company has a market cap of $443.80, a price-to-earnings ratio of 60.67 and a beta of 1.89.
About Surgery Partners
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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