Surgery Partners, Inc. (SGRY) Given “Buy” Rating at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of Surgery Partners, Inc. (NASDAQ:SGRY) in a research report released on Friday. Jefferies Group LLC currently has a $16.00 price target on the stock, down from their prior price target of $22.00.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Surgery Partners from a hold rating to a strong sell rating in a report on Saturday, August 12th. Citigroup Inc. reissued 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. Raymond James Financial, Inc. reissued a market perform rating on shares of Surgery Partners in a report on Wednesday, August 9th. Stifel Nicolaus lowered shares of Surgery Partners from a hold rating to a sell rating and reduced their target price for the stock from $21.00 to $17.00 in a report on Wednesday, August 9th. Finally, BidaskClub lowered shares of Surgery Partners from a sell rating to a strong sell rating in a report on Saturday, August 5th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $19.33.
Surgery Partners (NASDAQ SGRY) traded down 3.52% during trading on Friday, hitting $9.60. 590,502 shares of the stock were exchanged. Surgery Partners has a 1-year low of $8.52 and a 1-year high of $24.05. The firm has a market capitalization of $468.59 million, a price-to-earnings ratio of 63.16 and a beta of 2.02. The company has a 50-day moving average price of $13.63 and a 200 day moving average price of $18.86.
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In related news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SGRY. Teachers Advisors LLC increased its holdings in Surgery Partners by 22.9% in the 4th quarter. Teachers Advisors LLC now owns 34,209 shares of the company’s stock worth $542,000 after acquiring an additional 6,364 shares in the last quarter. Bank of Montreal Can bought a new position in Surgery Partners in the 1st quarter worth approximately $120,000. Strs Ohio bought a new position in Surgery Partners in the 1st quarter worth approximately $263,000. Wells Fargo & Company MN boosted its stake in Surgery Partners by 26.3% in the 1st quarter. Wells Fargo & Company MN now owns 397,454 shares of the company’s stock worth $7,750,000 after purchasing an additional 82,871 shares during the period. Finally, First Trust Advisors LP bought a new position in Surgery Partners in the 1st quarter worth approximately $600,000. 38.06% of the stock is owned by 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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