Surgery Partners, Inc. (SGRY) Shares Up 7.8%
Shares of Surgery Partners, Inc. (NASDAQ:SGRY) shot up 7.8% during trading on Tuesday . The company traded as high as $8.30 and last traded at $8.25. 708,852 shares changed hands during mid-day trading, an increase of 116% from the average session volume of 328,334 shares. The stock had previously closed at $7.65.
A number of brokerages recently commented on SGRY. Zacks Investment Research raised Surgery Partners from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, August 2nd. BidaskClub lowered Surgery Partners from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Surgery Partners in a report on Wednesday, August 9th. Stifel Nicolaus downgraded Surgery Partners from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $21.00 to $17.00 in a report on Wednesday, August 9th. Finally, Bank of America Corporation decreased their price objective on Surgery Partners from $23.00 to $19.00 and set a “buy” rating for the company in a report on Monday, October 9th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Surgery Partners currently has a consensus rating of “Hold” and a consensus price target of $18.57.
The company has a debt-to-equity ratio of 1.56, a current ratio of 2.09 and a quick ratio of 1.92. The firm has a market capitalization of $402.35, a price-to-earnings ratio of 55.00 and a beta of 1.92.
In other Surgery Partners news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $19.00, for a total value of $502,657,369.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.60% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of SGRY. Citadel Advisors LLC bought a new position in shares of Surgery Partners during the third quarter valued at $129,000. Round Table Services LLC bought a new position in shares of Surgery Partners during the third quarter valued at $138,000. Sterling Capital Management LLC bought a new position in shares of Surgery Partners during the third quarter valued at $210,000. Voya Investment Management LLC bought a new position in shares of Surgery Partners during the second quarter valued at $222,000. Finally, American International Group Inc. increased its holdings in shares of Surgery Partners by 7.1% during the first quarter. American International Group Inc. now owns 11,462 shares of the company’s stock valued at $224,000 after acquiring an additional 759 shares in the last quarter. Hedge funds and other institutional investors own 39.73% of the company’s stock.
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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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