Surgery Partners, Inc. (NASDAQ:SGRY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Surgery Partners, Inc. is a healthcare services company. The Company’s outpatient delivery model focused on providing solutions for surgical and related ancillary care in support of its patients and physicians. Its operating segment consists of Surgical Facility Services segment, Ancillary Services segment and Optical Services segment. Surgery Partners, Inc. is based in Nashville, Tennessee. “
Several other research analysts have also weighed in on SGRY. Stifel Nicolaus lowered Surgery Partners from a “hold” rating to a “sell” rating and dropped their price target for the company from $21.00 to $17.00 in a research report on Wednesday, August 9th. Citigroup Inc. reissued a “buy” rating and set a $17.00 price target (down from $28.00) on shares of Surgery Partners in a research report on Friday, August 11th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Surgery Partners in a research report on Wednesday, August 9th. Bank of America Corporation dropped their price target on Surgery Partners from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday. Finally, BidaskClub lowered Surgery Partners from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $19.29.
Surgery Partners (NASDAQ:SGRY) remained flat at $9.10 during mid-day trading on Wednesday. 85,783 shares of the stock were exchanged. The stock has a market capitalization of $444.18 million, a price-to-earnings ratio of 59.87 and a beta of 2.05. The stock’s 50-day moving average is $9.88 and its 200-day moving average is $17.05. Surgery Partners has a 12-month low of $8.52 and a 12-month high of $24.05.
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In other Surgery Partners news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $19.00, for a total value of $502,657,369.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 7.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its position in Surgery Partners by 16.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,716 shares of the company’s stock worth $312,000 after purchasing an additional 1,963 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Surgery Partners during the 2nd quarter valued at about $306,000. JHL Capital Group LLC acquired a new position in shares of Surgery Partners during the 2nd quarter valued at about $2,275,000. State Street Corp increased its holdings in shares of Surgery Partners by 7.7% during the 2nd quarter. State Street Corp now owns 354,115 shares of the company’s stock valued at $8,059,000 after acquiring an additional 25,446 shares during the last quarter. Finally, Fred Alger Management Inc. acquired a new position in shares of Surgery Partners during the 2nd quarter valued at about $569,000. 38.06% of the stock is currently owned by institutional investors.
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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