ValuEngine Lowers Surgery Partners, Inc. (SGRY) to Sell
ValuEngine lowered shares of Surgery Partners, Inc. (NASDAQ:SGRY) from a hold rating to a sell rating in a report published on Thursday.
SGRY has been the subject of several other research reports. Bank of America Corporation reduced their price target on shares of Surgery Partners from $23.00 to $19.00 and set a buy rating for the company in a research report on Monday, October 9th. Zacks Investment Research downgraded shares of Surgery Partners from a hold rating to a strong sell rating in a research report on Saturday, August 12th. Jefferies Group LLC reiterated a buy rating and issued a $16.00 price target (down previously from $22.00) on shares of Surgery Partners in a research report on Friday, September 8th. BidaskClub downgraded shares of Surgery Partners from a sell rating to a strong sell rating in a research report on Saturday, August 5th. Finally, Citigroup Inc. reiterated a buy rating and issued a $17.00 price target (down previously from $28.00) on shares of Surgery Partners in a research report on Friday, August 11th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $18.57.
Surgery Partners (SGRY) traded down $0.15 during mid-day trading on Thursday, reaching $9.45. 545,000 shares of the company traded hands, compared to its average volume of 469,353. Surgery Partners has a 1 year low of $7.10 and a 1 year high of $24.05. The stock has a market cap of $460.87, a P/E ratio of 63.00 and a beta of 1.92. The company has a debt-to-equity ratio of 5.69, a quick ratio of 1.73 and a current ratio of 1.89.
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In other Surgery Partners 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 transaction of $502,657,369.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC purchased a new position in Surgery Partners during the 2nd quarter worth $222,000. Royal Bank of Canada grew its stake 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 purchasing an additional 9,193 shares during the period. Atria Investments LLC grew its stake 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 purchasing an additional 238 shares during the period. American International Group Inc. grew its stake 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 purchasing an additional 759 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Surgery Partners by 211.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,915 shares of the company’s stock worth $271,000 after purchasing an additional 8,089 shares during the period. Institutional investors own 37.28% of the company’s stock.
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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