Surgery Partners, Inc. (NASDAQ:SGRY)’s share price dropped 0.3% during mid-day trading on Friday . The stock traded as low as $9.43 and last traded at $9.93. Approximately 112,513 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 391,686 shares. The stock had previously closed at $9.95.

SGRY has been the topic of several recent research reports. BidaskClub raised shares of Surgery Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Zacks Investment Research cut shares of Surgery Partners from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Surgery Partners in a research note on Wednesday, August 9th. Citigroup Inc. reissued a “buy” rating and issued a $17.00 price objective (down from $28.00) on shares of Surgery Partners in a research note on Friday, August 11th. Finally, Stifel Nicolaus cut 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 research note on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Surgery Partners has an average rating of “Hold” and a consensus target price of $20.67.

The company has a market cap of $468.59 million, a price-to-earnings ratio of 63.16 and a beta of 2.02. The firm has a 50-day moving average price of $13.98 and a 200-day moving average price of $18.93.

In other news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $19.00, for a total transaction of $502,657,369.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.50% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Atria Investments LLC grew its holdings in Surgery Partners by 2.3% during the second quarter. Atria Investments LLC now owns 10,627 shares of the company’s stock worth $242,000 after acquiring an additional 238 shares during the period. Alliancebernstein L.P. grew its holdings in Surgery Partners by 1.1% during the second quarter. Alliancebernstein L.P. now owns 28,400 shares of the company’s stock worth $646,000 after acquiring an additional 300 shares during the period. Campbell Newman Asset Management Inc. grew its holdings in Surgery Partners by 4.9% during the second quarter. Campbell Newman Asset Management Inc. now owns 12,649 shares of the company’s stock worth $288,000 after acquiring an additional 586 shares during the period. Ameriprise Financial Inc. grew its holdings in Surgery Partners by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 229,575 shares of the company’s stock worth $5,223,000 after acquiring an additional 605 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in Surgery Partners by 2.5% during the first quarter. Parametric Portfolio Associates LLC now owns 28,172 shares of the company’s stock worth $549,000 after acquiring an additional 689 shares during the period. 38.06% of the stock is currently owned by hedge funds and other institutional investors.

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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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