Bank of America Corporation cut shares of Surgery Partners, Inc. (NASDAQ:SGRY) from a buy rating to a neutral rating in a research note published on Wednesday morning, MarketBeat.com reports. Bank of America Corporation currently has $19.00 price target on the stock.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Surgery Partners from a hold rating to a buy rating and set a $22.00 price target for the company in a report on Wednesday, August 2nd. Raymond James Financial, Inc. restated a market perform rating on shares of Surgery Partners in a report on Wednesday, August 9th. Stifel Nicolaus cut Surgery Partners from a hold rating to a sell rating and cut their price target for the company from $21.00 to $17.00 in a report on Wednesday, August 9th. KeyCorp reaffirmed a hold rating on shares of Surgery Partners in a research note on Friday, September 22nd. Finally, Citigroup Inc. reaffirmed a buy rating and issued a $17.00 price objective (down from $28.00) on shares of Surgery Partners in a research note on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $18.86.
Shares of Surgery Partners (NASDAQ:SGRY) traded up $0.08 during mid-day trading on Wednesday, hitting $8.00. The company’s stock had a trading volume of 759,290 shares, compared to its average volume of 426,058. The stock has a market capitalization of $390.47, a price-to-earnings ratio of 20.00 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. Surgery Partners has a 12 month low of $7.10 and a 12 month high of $24.05.
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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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.60% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of SGRY. FMR LLC lifted its stake in shares of Surgery Partners by 295.0% during the 1st quarter. FMR LLC now owns 2,583,000 shares of the company’s stock worth $50,369,000 after acquiring an additional 1,929,057 shares during the last quarter. Elk Creek Partners LLC bought a new stake in shares of Surgery Partners during the 2nd quarter worth approximately $9,888,000. NN Investment Partners Holdings N.V. lifted its stake in shares of Surgery Partners by 23.1% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,221,074 shares of the company’s stock worth $27,779,000 after acquiring an additional 229,515 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Surgery Partners during the 2nd quarter worth approximately $3,171,000. Finally, Royce & Associates LP lifted its stake in shares of Surgery Partners by 78.2% during the 2nd quarter. Royce & Associates LP now owns 262,125 shares of the company’s stock worth $5,963,000 after acquiring an additional 114,999 shares during the last quarter. 39.17% of the stock is owned by hedge funds and other 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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