Shares of Surgery Partners Inc (NASDAQ:SGRY) have earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $17.17.
SGRY has been the topic of a number of research reports. Bank of America lowered shares of Surgery Partners from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Wednesday, November 1st. KeyCorp restated a “hold” rating on shares of Surgery Partners in a research report on Tuesday, October 31st. Jefferies Group decreased their price target on Surgery Partners from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Zacks Investment Research downgraded Surgery Partners from a “hold” rating to a “strong sell” rating in a report on Saturday, November 4th. Finally, ValuEngine downgraded Surgery Partners from a “hold” rating to a “sell” rating in a report on Thursday, November 9th.
Several hedge funds and other institutional investors have recently modified their holdings of SGRY. Schwab Charles Investment Management Inc. lifted its holdings in shares of Surgery Partners by 14.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 75,721 shares of the company’s stock worth $1,723,000 after purchasing an additional 9,656 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Surgery Partners by 1.1% during the second quarter. Alliancebernstein L.P. now owns 28,400 shares of the company’s stock worth $646,000 after purchasing an additional 300 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Surgery Partners by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 229,575 shares of the company’s stock worth $5,223,000 after purchasing an additional 605 shares during the period. Northern Trust Corp lifted its holdings in shares of Surgery Partners by 36.0% during the second quarter. Northern Trust Corp now owns 307,738 shares of the company’s stock worth $7,001,000 after purchasing an additional 81,468 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Surgery Partners by 5.6% during the second quarter. Vanguard Group Inc. now owns 1,595,966 shares of the company’s stock worth $36,309,000 after purchasing an additional 85,148 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.
Surgery Partners announced that its Board of Directors has authorized a stock buyback program on Friday, December 15th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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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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