Nonprofit behavioral health care provider Centerstone has named Col. Kent Crossley as executive director of Military Services.
Crossley, a U.S. Army veteran, will be based in Nashville and oversee programming, operations and fundraising activities related to military and veteran services.
"We are delighted to welcome Kent as executive director of Centerstone Military Services," David Guth Jr., Centerstone CEO, said in a release. "His insight and leadership will be invaluable as Centerstone seeks to expand how we support veterans, service members and their loved ones. Our team looks forward to working with him to continue to build the services we provide the military and veteran communities."
Investors still don't feel all that good about the prospects for U.S. stocks and have sent the broad market indices down about 2 percent to start the week. However, the red is much brighter in the health care sector, which has been a relative bright spot of late. And Middle Tennessee companies haven't been able to escape the downdraft: At about 11:30 a.m., the stocks of some of the biggest companies based in the Nashville area were off at least 5 percent. The biggest, HCA Holdings, has lost $1.9 billion in value this morning. The other five health care names listed here have lost a combined $1.3 billion in market value.
The team at local investment bank Avondale Partners has added AmSurg shares to its conviction list. Analyst Paula Torch says the company is having great success working its Sheridan anesthesia into its surgery centers, which is driving both the top line and profitability. She has lifted her EBITDA margin forecast to 19.1 percent from 18.8 percent and her EPS estimate to $4.15 from $4.00. And that's without the expected (and maybe more unexpected) M&A activity.
We believe there are plenty of deals to go around and the development team will go after what fits and what is financially sound. [...] In our view, while AMSG will likely strike on a deal that makes sense for them across their various service lines, we continue to anticipate more deals in anesthesia, radiology, and children's services, but believe there is appetite for ED deals if they become available.
Torch also has raised her price target for AmSurg (Ticker: AMSG), which closed last week's trading at $82.71, to $94 from $90. Her call comes less than two months after she hiked her price target all the way from $74.
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