Surgery Partners Inc (SGRY) inked a new partnership with UCI Health in a bid to expand their emergency medical service facilities and thereby enrich the health care community. Surgery Partners is a healthcare services company that provides surgical services.
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The deal enables community access to outpatient surgical facilities for approximately 4 million residents across Orange County, Western Riverside County, and Southern California.
Surgery Partners CEO Eric Evans said, “As a leading, independent operator of short-stay surgical facilities, we look forward to partnering with UCI Health and our collective medical staffs to provide our patients a cost-effective solution for ambulatory procedures with the same high-quality care to which they are accustomed.”
Evans further added, “We anticipate this partnership will bring continued growth for both organizations and will become a valuable aspect of our business strategy in the Southern California market.” (See Surgery Partners stock analysis on TipRanks)
On May 6, Citigroup analyst Ralph Giacobbe increased the stock’s price target to $58.00 from $55.00 and reiterated a Buy rating.
Giacobbe remains encouraged by the company’s “strong” Q1 earnings results. The analyst expects “favorable momentum” for Surgery Partners.
Consensus among analysts is a Strong Buy based on 3 Buys versus 1 Hold. The average analyst price target stands at $53.25 and implies downside potential of 9% to current levels. Shares have gained 325.7% over the past year.
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Surgery Partners, with 31.4% of investors increasing their exposure to SGRY stock over the past 30 days.
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