Surgery Partners, Inc. (NASDAQ:SGRY) Rating Lowered to Strong Sell at BidaskClub

Surgery Partners, Inc. (NASDAQ:SGRY) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Surgery Partners from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus decreased their target price on shares of Surgery Partners from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, April 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Surgery Partners presently has a consensus rating of “Hold” and an average target price of $21.60.

Shares of Surgery Partners (NASDAQ SGRY) traded up 1.03% during midday trading on Friday, hitting $19.60. 97,911 shares of the stock were exchanged. The firm has a market cap of $956.83 million, a P/E ratio of 67.82 and a beta of 1.71. The firm has a 50 day moving average of $21.73 and a 200 day moving average of $20.36. Surgery Partners has a 12-month low of $13.60 and a 12-month high of $24.05.

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A number of hedge funds and other institutional investors have recently bought and sold shares of SGRY. FMR LLC increased its position in Surgery Partners by 295.0% in the first quarter. FMR LLC now owns 2,583,000 shares of the company’s stock worth $50,369,000 after buying an additional 1,929,057 shares during the period. NN Investment Partners Holdings N.V. bought a new position in Surgery Partners during the first quarter worth approximately $19,336,000. AMI Asset Management Corp bought a new position in Surgery Partners during the first quarter worth approximately $8,441,000. Redmile Group LLC bought a new position in Surgery Partners during the first quarter worth approximately $5,918,000. Finally, Kennedy Capital Management Inc. bought a new position in Surgery Partners during the first quarter worth approximately $5,890,000. Hedge funds and other institutional investors own 39.38% 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.