Surgery Partners, Inc. (SGRY) Cut to Strong Sell at Zacks Investment Research
Surgery Partners, Inc. (NASDAQ:SGRY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Saturday.
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. “
A number of other analysts have also recently commented on SGRY. Jefferies Group LLC lowered their price objective on shares of Surgery Partners from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday. KeyCorp restated a “hold” rating on shares of Surgery Partners in a research report on Tuesday. Bank of America Corporation cut shares of Surgery Partners from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Wednesday. Citigroup Inc restated a “buy” rating and issued a $17.00 price objective (down previously from $28.00) on shares of Surgery Partners in a research report on Friday, August 11th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of Surgery Partners in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.86.
Shares of Surgery Partners (NASDAQ:SGRY) opened at $8.00 on Friday. The company has a debt-to-equity ratio of 5.69, a quick ratio of 1.73 and a current ratio of 1.89. The stock has a market cap of $386.81, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 3.84 and a beta of 1.92.
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In related news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SGRY. Bank of New York Mellon Corp boosted its stake in Surgery Partners by 28.3% in the 1st quarter. Bank of New York Mellon Corp now owns 113,978 shares of the company’s stock worth $2,222,000 after purchasing an additional 25,120 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Surgery Partners by 2.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 28,172 shares of the company’s stock worth $549,000 after purchasing an additional 689 shares during the period. American International Group Inc. boosted its stake in Surgery Partners by 7.1% in the 1st quarter. American International Group Inc. now owns 11,462 shares of the company’s stock worth $224,000 after purchasing an additional 759 shares during the period. Teachers Advisors LLC boosted its stake in Surgery Partners by 4.5% in the 1st quarter. Teachers Advisors LLC now owns 35,753 shares of the company’s stock worth $697,000 after purchasing an additional 1,544 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Surgery Partners by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 1,510,818 shares of the company’s stock worth $29,461,000 after purchasing an additional 72,121 shares during the period. 39.17% of the stock is owned by hedge funds and other 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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