Surgery Partners, Inc. (NASDAQ:SGRY) had its price objective decreased by equities researchers at Bank of America Corporation from $23.00 to $19.00 in a note issued to investors on Monday, October 9th. The brokerage currently has a “buy” rating on the stock. Bank of America Corporation’s target price indicates a potential upside of 98.95% from the company’s previous close.
SGRY has been the topic of a number of other reports. 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 restated a “buy” rating and set a $16.00 target price (down previously from $22.00) on shares of Surgery Partners in a report on Friday, September 8th. BidaskClub cut shares of Surgery Partners from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Citigroup Inc. restated a “buy” rating and set a $17.00 target price (down previously from $28.00) on shares of Surgery Partners in a report on Friday, August 11th. Finally, KeyCorp restated a “hold” rating on shares of Surgery Partners in a report on Friday, September 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.29.
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In related news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available at this hyperlink. 7.60% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of SGRY. Atria Investments LLC boosted its holdings in Surgery Partners by 2.3% in the second 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. Alliancebernstein L.P. boosted its holdings in Surgery Partners by 1.1% in the second quarter. Alliancebernstein L.P. now owns 28,400 shares of the company’s stock worth $646,000 after acquiring an additional 300 shares in the last quarter. Campbell Newman Asset Management Inc. boosted its holdings in Surgery Partners by 4.9% in the second quarter. Campbell Newman Asset Management Inc. now owns 12,649 shares of the company’s stock worth $288,000 after acquiring an additional 586 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Surgery Partners by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 229,575 shares of the company’s stock worth $5,223,000 after acquiring an additional 605 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in Surgery Partners by 2.5% in the first quarter. Parametric Portfolio Associates LLC now owns 28,172 shares of the company’s stock worth $549,000 after acquiring an additional 689 shares in the last quarter. 39.14% 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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