Surgery Partners, Inc. (NASDAQ:SGRY) Downgraded by Zacks Investment Research to “Strong Sell”
Zacks Investment Research cut shares of Surgery Partners, Inc. (NASDAQ:SGRY) from a hold rating to a strong sell rating in a research note issued to investors on Saturday morning.
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 research firms also recently issued reports on SGRY. Raymond James Financial, Inc. reissued a market perform rating on shares of Surgery Partners in a research report on Wednesday. BidaskClub downgraded Surgery Partners from a hold rating to a sell rating in a research report on Monday, July 24th. Stifel Nicolaus downgraded Surgery Partners from a hold rating to a sell rating and dropped their price target for the stock from $21.00 to $17.00 in a research report on Wednesday. Finally, Citigroup Inc. dropped their price target on Surgery Partners from $28.00 to $17.00 and set a buy rating on the stock in a research report on Friday. Three 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. The company currently has a consensus rating of Hold and an average price target of $20.67.
Shares of Surgery Partners (NASDAQ SGRY) traded up 3.74% during mid-day trading on Friday, hitting $11.10. 844,033 shares of the stock were exchanged. The stock’s 50 day moving average is $20.32 and its 200 day moving average is $20.21. Surgery Partners has a 12 month low of $9.20 and a 12 month high of $24.05. The firm has a market cap of $541.80 million, a P/E ratio of 73.03 and a beta of 1.71.
A number of large investors have recently modified their holdings of SGRY. FMR LLC increased its stake 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 buying an additional 1,929,057 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Surgery Partners during the first quarter worth $19,336,000. Elk Creek Partners LLC bought a new stake in shares of Surgery Partners during the second quarter worth $9,888,000. Redmile Group LLC bought a new stake in shares of Surgery Partners during the first quarter worth $5,918,000. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Surgery Partners during the first quarter worth $5,890,000. 39.36% of the stock is currently owned by 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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