Jefferies Group LLC Reiterates “Buy” Rating for Surgery Partners, Inc. (SGRY)
Surgery Partners, Inc. (NASDAQ:SGRY)‘s stock had its “buy” rating restated by research analysts at Jefferies Group LLC in a report issued on Friday. They currently have a $16.00 target price on the stock, down from their previous target price of $22.00. Jefferies Group LLC’s price target indicates a potential upside of 66.67% from the company’s current price.
Other research analysts have also recently issued reports about the company. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Surgery Partners in a research note on Wednesday, August 9th. BidaskClub cut Surgery Partners from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Zacks Investment Research raised Surgery Partners from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, August 2nd. Stifel Nicolaus cut Surgery Partners from a “hold” rating to a “sell” rating and decreased their target price for the company from $21.00 to $17.00 in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $17.00 target price (down from $28.00) on shares of Surgery Partners in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Surgery Partners presently has a consensus rating of “Hold” and an average target price of $19.33.
Shares of Surgery Partners (NASDAQ SGRY) traded down 3.52% during midday trading on Friday, reaching $9.60. The company had a trading volume of 590,502 shares. The firm has a market cap of $468.59 million, a P/E ratio of 63.16 and a beta of 2.02. Surgery Partners has a 52-week low of $8.52 and a 52-week high of $24.05. The company’s 50-day moving average is $13.63 and its 200-day moving average is $18.86.
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In other Surgery Partners news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.50% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. FMR LLC grew its stake in Surgery Partners by 295.0% in the first quarter. FMR LLC now owns 2,583,000 shares of the company’s stock valued at $50,369,000 after acquiring an additional 1,929,057 shares during the period. Vanguard Group Inc. grew its stake in Surgery Partners by 5.6% in the second quarter. Vanguard Group Inc. now owns 1,595,966 shares of the company’s stock valued at $36,309,000 after acquiring an additional 85,148 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Surgery Partners by 0.3% in the first quarter. Clearbridge Investments LLC now owns 1,524,088 shares of the company’s stock valued at $29,720,000 after purchasing an additional 4,733 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its holdings in shares of Surgery Partners by 23.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,221,074 shares of the company’s stock valued at $27,779,000 after purchasing an additional 229,515 shares in the last quarter. Finally, AMI Asset Management Corp lifted its holdings in shares of Surgery Partners by 26.4% in the second quarter. AMI Asset Management Corp now owns 547,162 shares of the company’s stock valued at $12,448,000 after purchasing an additional 114,288 shares in the last quarter. 38.06% of the stock is owned by hedge funds and other institutional investors.
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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