Surgery Partners (SGRY) Stock Price Up 13.9%

Shares of Surgery Partners Inc (NASDAQ:SGRY) rose 13.9% during mid-day trading on Friday . The company traded as high as $12.77 and last traded at $12.70. Approximately 561,696 shares traded hands during trading, an increase of 64% from the average daily volume of 342,082 shares. The stock had previously closed at $11.15.

SGRY has been the topic of a number of recent analyst reports. Jefferies Group reissued a “buy” rating and set a $16.00 price target (down from $22.00) on shares of Surgery Partners in a report on Friday, September 8th. KeyCorp reissued a “hold” rating on shares of Surgery Partners in a report on Friday, September 22nd. Zacks Investment Research downgraded shares of Surgery Partners from a “hold” rating to a “strong sell” rating in a report on Saturday, November 4th. ValuEngine downgraded shares of Surgery Partners from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Finally, Bank of America downgraded shares of Surgery Partners from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a report on Wednesday, November 1st. Four research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $18.57.

The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.92 and a current ratio of 2.09. The firm has a market cap of $519.39, a price-to-earnings ratio of -27.61 and a beta of 1.89.

Surgery Partners declared that its board has initiated a stock buyback plan on Friday, December 15th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of SGRY. Bain Capital Investors LLC acquired a new stake in shares of Surgery Partners in the third quarter valued at about $273,816,000. Vanguard Group Inc. raised its position in shares of Surgery Partners by 5.6% in the second quarter. Vanguard Group Inc. now owns 1,595,966 shares of the company’s stock valued at $36,309,000 after buying an additional 85,148 shares during the last quarter. Royce & Associates LP raised its position 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 valued at $7,054,000 after buying an additional 419,457 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Surgery Partners by 156.0% in the third quarter. JPMorgan Chase & Co. now owns 524,775 shares of the company’s stock valued at $5,379,000 after buying an additional 319,775 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Surgery Partners by 25.7% in the second quarter. Wells Fargo & Company MN now owns 499,712 shares of the company’s stock valued at $11,368,000 after buying an additional 102,258 shares during the last quarter. 94.16% of the stock is currently owned by institutional investors and hedge funds.

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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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