Surgery Partners, Inc. (SGRY) PT Lowered to $19.00 at Bank of America Corporation

Surgery Partners, Inc. (NASDAQ:SGRY) had its price objective lowered by Bank of America Corporation from $23.00 to $19.00 in a research report released on Monday. Bank of America Corporation currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on SGRY. Stifel Nicolaus lowered shares of Surgery Partners from a hold rating to a sell rating and dropped their price objective for the company from $21.00 to $17.00 in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Surgery Partners from a hold rating to a strong sell rating in a report on Saturday, August 12th. Citigroup Inc. reissued a buy rating and issued a $17.00 price objective (down previously from $28.00) on shares of Surgery Partners in a report on Friday, August 11th. Raymond James Financial, Inc. reissued a market perform rating on shares of Surgery Partners in a report on Wednesday, August 9th. Finally, BidaskClub lowered shares of Surgery Partners from a sell rating to a strong sell rating in a report on Saturday, August 5th. Two investment 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. Surgery Partners currently has a consensus rating of Hold and an average price target of $19.29.

Surgery Partners (SGRY) opened at 9.35 on Monday. The firm’s 50-day moving average is $9.88 and its 200 day moving average is $17.11. The company has a market cap of $456.38 million, a price-to-earnings ratio of 61.51 and a beta of 2.05. Surgery Partners has a 52-week low of $8.52 and a 52-week 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 stock in a transaction dated 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 legal filing with the SEC, which is available at this link. 7.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Surgery Partners by 16.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,716 shares of the company’s stock worth $312,000 after buying an additional 1,963 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Surgery Partners during the second quarter worth approximately $306,000. JHL Capital Group LLC purchased a new stake in shares of Surgery Partners during the second quarter worth approximately $2,275,000. State Street Corp increased its stake in shares of Surgery Partners by 7.7% during the second quarter. State Street Corp now owns 354,115 shares of the company’s stock worth $8,059,000 after buying an additional 25,446 shares during the period. Finally, Fred Alger Management Inc. purchased a new stake in shares of Surgery Partners during the second quarter worth approximately $569,000. Hedge funds and other institutional investors own 38.06% 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.

Analyst Recommendations for Surgery Partners (NASDAQ:SGRY)

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