Surgery Partners, Inc. (SGRY) Given Consensus Rating of “Hold” by Analysts
Surgery Partners, Inc. (NASDAQ:SGRY) has received a consensus recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $18.80.
A number of analysts recently commented on SGRY shares. BidaskClub upgraded shares of Surgery Partners from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Zacks Investment Research upgraded shares of Surgery Partners from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Wednesday, August 2nd. Stifel Nicolaus downgraded shares of Surgery Partners from a “hold” rating to a “sell” rating and dropped their target price for the stock from $21.00 to $17.00 in a report on Wednesday, August 9th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Surgery Partners in a report on Wednesday, August 9th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $17.00 target price (down from $28.00) on shares of Surgery Partners in a report on Friday, August 11th.
In other news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of Surgery Partners stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $19.00, for a total value of $502,657,369.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SGRY. FMR LLC increased its position in shares of Surgery Partners by 295.0% in the first quarter. FMR LLC now owns 2,583,000 shares of the company’s stock worth $50,369,000 after acquiring an additional 1,929,057 shares in the last quarter. Elk Creek Partners LLC purchased a new position in shares of Surgery Partners in the second quarter worth approximately $9,888,000. Redmile Group LLC purchased a new position in shares of Surgery Partners in the first quarter worth approximately $5,918,000. Kennedy Capital Management Inc. purchased a new position in shares of Surgery Partners in the first quarter worth approximately $5,890,000. Finally, NN Investment Partners Holdings N.V. increased its position 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 worth $27,779,000 after acquiring an additional 229,515 shares in the last quarter. 38.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Surgery Partners (SGRY) opened at 10.00 on Friday. Surgery Partners has a 52-week low of $8.52 and a 52-week high of $24.05. The stock has a 50 day moving average of $12.00 and a 200 day moving average of $18.43. The firm has a market capitalization of $488.11 million, a price-to-earnings ratio of 65.79 and a beta of 2.02.
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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