Surgery Partners, Inc. (NASDAQ:SGRY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research report issued on Friday. They currently have a $16.00 price objective on the stock, down from their prior price objective of $22.00. Jefferies Group LLC’s price objective points to a potential upside of 66.67% from the stock’s current price.
Several other equities research analysts have also commented on SGRY. BidaskClub raised shares of Surgery Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Zacks Investment Research raised shares of Surgery Partners from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, August 2nd. Stifel Nicolaus lowered shares of Surgery Partners from a “hold” rating to a “sell” rating and reduced their price target for the company from $21.00 to $17.00 in a research report on Wednesday, August 9th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Surgery Partners in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $17.00 price objective (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 given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $19.33.
Surgery Partners (NASDAQ:SGRY) opened at 9.60 on Friday. The company has a market cap of $468.59 million, a price-to-earnings ratio of 63.16 and a beta of 2.02. Surgery Partners has a 12 month low of $8.52 and a 12 month high of $24.05. The firm’s 50-day moving average is $13.63 and its 200-day moving average is $18.86.
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In other news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $19.00, for a total transaction of $502,657,369.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.50% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of SGRY. Bank of Montreal Can purchased a new stake in shares of Surgery Partners during the 1st quarter worth approximately $120,000. Voya Investment Management LLC purchased a new stake in shares of Surgery Partners during the 2nd quarter worth approximately $222,000. American International Group Inc. raised its holdings in shares of Surgery Partners by 7.1% during the 1st quarter. American International Group Inc. now owns 11,462 shares of the company’s stock worth $224,000 after acquiring an additional 759 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Surgery Partners by 680.5% during the 2nd quarter. Royal Bank of Canada now owns 10,544 shares of the company’s stock worth $240,000 after acquiring an additional 9,193 shares in the last quarter. Finally, Atria Investments LLC raised its holdings in shares of Surgery Partners by 2.3% during the 2nd quarter. Atria Investments LLC now owns 10,627 shares of the company’s stock worth $242,000 after acquiring an additional 238 shares in the last quarter. 38.06% of the stock is currently owned by institutional investors and hedge funds.
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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