Surgery Partners, Inc. (SGRY) Price Target Cut to $13.00

Surgery Partners, Inc. (NASDAQ:SGRY) had its price target cut by Jefferies Group LLC from $16.00 to $13.00 in a research report report published on Wednesday. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on SGRY. Stifel Nicolaus downgraded Surgery Partners from a hold rating to a sell rating and dropped their target price for the stock from $21.00 to $17.00 in a research report on Wednesday, August 9th. KeyCorp restated a hold rating on shares of Surgery Partners in a research report on Tuesday, October 31st. Zacks Investment Research downgraded Surgery Partners from a hold rating to a strong sell rating in a research report on Saturday, August 12th. Citigroup Inc. restated a buy rating and issued a $17.00 target price (down previously from $28.00) on shares of Surgery Partners in a research report on Friday, August 11th. Finally, Bank of America Corporation downgraded Surgery Partners from a buy rating to a neutral rating and set a $19.00 target price for the company. in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $18.86.

Shares of Surgery Partners (SGRY) opened at $8.00 on Wednesday. The firm has a market capitalization of $390.47, a P/E ratio of 20.00 and a beta of 1.92. Surgery Partners has a 12-month low of $7.10 and a 12-month high of $24.05. The company has a debt-to-equity ratio of 5.69, a current ratio of 1.89 and a quick ratio of 1.73.

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In other Surgery Partners news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership bought a new stake in Surgery Partners in the second quarter valued at approximately $306,000. AMI Asset Management Corp lifted its position in Surgery Partners by 26.4% in the second quarter. AMI Asset Management Corp now owns 547,162 shares of the company’s stock valued at $12,448,000 after purchasing an additional 114,288 shares during the last quarter. JHL Capital Group LLC bought a new stake in Surgery Partners in the second quarter valued at approximately $2,275,000. Strs Ohio lifted its position in Surgery Partners by 51.1% in the second quarter. Strs Ohio now owns 20,400 shares of the company’s stock valued at $464,000 after purchasing an additional 6,900 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Surgery Partners by 78.2% in the second quarter. Royce & Associates LP now owns 262,125 shares of the company’s stock valued at $5,963,000 after purchasing an additional 114,999 shares during the last quarter. Hedge funds and other institutional investors own 39.17% of the company’s stock.

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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