BidaskClub upgraded shares of Surgery Partners (NASDAQ:SGRY) from a hold rating to a buy rating in a research report report published on Wednesday morning.
Several other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Surgery Partners from a hold rating to a sell rating in a report on Tuesday. ValuEngine downgraded Surgery Partners from a hold rating to a sell rating in a report on Friday, February 2nd. Benchmark set a $19.00 target price on Surgery Partners and gave the stock a buy rating in a report on Tuesday, January 30th. Royal Bank of Canada reissued a buy rating and issued a $18.00 target price on shares of Surgery Partners in a report on Sunday, November 12th. Finally, Jefferies Group dropped their target price on Surgery Partners from $16.00 to $13.00 and set a buy rating on the stock in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Surgery Partners has an average rating of Hold and a consensus target price of $17.86.
Shares of Surgery Partners (SGRY) opened at $16.40 on Wednesday. The company has a quick ratio of 1.92, a current ratio of 2.09 and a debt-to-equity ratio of 1.56. Surgery Partners has a 1-year low of $7.10 and a 1-year high of $24.05. The company has a market capitalization of $794.94, a price-to-earnings ratio of 108.67 and a beta of 2.47.
Surgery Partners declared that its Board of Directors has initiated a share repurchase plan on Friday, December 15th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Several large investors have recently made changes to their positions in SGRY. Bain Capital Investors LLC bought a new position in shares of Surgery Partners during the third quarter valued at $273,816,000. Goldman Sachs Group Inc. bought a new position in shares of Surgery Partners during the fourth quarter valued at $7,405,000. Royce & Associates LP lifted its holdings in shares of Surgery Partners by 160.0% during the third quarter. Royce & Associates LP now owns 681,582 shares of the company’s stock valued at $7,054,000 after purchasing an additional 419,457 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Surgery Partners by 156.0% during the third quarter. JPMorgan Chase & Co. now owns 524,775 shares of the company’s stock valued at $5,379,000 after purchasing an additional 319,775 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Surgery Partners by 12.6% during the fourth quarter. Clearbridge Investments LLC now owns 2,715,434 shares of the company’s stock valued at $32,857,000 after purchasing an additional 304,102 shares in the last quarter. 98.82% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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