Surgery Partners (SGRY) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Surgery Partners (NASDAQ:SGRY) from a hold rating to a sell rating in a research note published on Thursday, November 9th.

Several other equities research analysts also recently weighed in on the company. Bank of America cut their price target on Surgery Partners from $23.00 to $19.00 and set a buy rating on the stock in a research report on Monday, October 9th. BidaskClub cut Surgery Partners from a hold rating to a sell rating in a research report on Monday, July 24th. Jefferies Group restated a buy rating and set a $16.00 target price (down from $22.00) on shares of Surgery Partners in a research report on Friday, September 8th. Zacks Investment Research upgraded Surgery Partners from a strong sell rating to a hold rating in a research report on Wednesday, October 11th. Finally, KeyCorp reaffirmed a hold rating on shares of Surgery Partners in a research note on Friday, September 22nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $18.57.

Surgery Partners (NASDAQ SGRY) traded up $1.00 during midday trading on Thursday, hitting $9.60. The company had a trading volume of 1,155,276 shares, compared to its average volume of 330,799. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.92 and a current ratio of 2.09. Surgery Partners has a 52-week low of $7.10 and a 52-week high of $24.05. The firm has a market cap of $419.42 and a P/E ratio of 57.00.

In other news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the firm’s stock in a transaction that occurred 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 accessible through this link. 7.60% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC acquired a new position in shares of Surgery Partners in the third quarter worth $210,000. Bain Capital Investors LLC acquired a new position in shares of Surgery Partners in the third quarter worth $273,816,000. Royce & Associates LP grew its stake in shares of Surgery Partners by 160.0% in the third quarter. Royce & Associates LP now owns 681,582 shares of the company’s stock worth $7,054,000 after acquiring an additional 419,457 shares in the last quarter. Elk Creek Partners LLC grew its stake in shares of Surgery Partners by 6.9% in the third quarter. Elk Creek Partners LLC now owns 464,829 shares of the company’s stock worth $4,811,000 after acquiring an additional 30,172 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Surgery Partners by 119.6% in the third quarter. Dimensional Fund Advisors LP now owns 305,909 shares of the company’s stock worth $3,166,000 after acquiring an additional 166,590 shares in the last quarter. Hedge funds and other institutional investors own 94.16% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Surgery Partners (NASDAQ:SGRY)

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