Robert W. Baird analyst Whit Mayo upgraded his AmSurg rating Friday to 'outperform' from 'neutral.' Mayo also boosted his price target for the company to $55 from $44.
Shares of the ambulatory surgery company (Ticker: AMSG) were down nearly 10 percent last week, following news that the company is offering almost 10 million shares to finance its acquisition of Sheridan Healthcare. Year to date, shares are down slightly. However, they're up 28 percent in the last 12 months.
Hospital stocks were trading down Thursday following Wednesday's news that health care spending declined in the first quarter. The overall GDP dropped by 2.9 percent, according to the Bureau of Economic Analysis, and health care spending fell by 1.4 percent.
Shares of Community Health Systems (Ticker: CYH) saw the biggest drop, down about 3.2 percent just before the market closed Thursday. Shares of HCA Holdings (HCA) were down 1.9 percent, while shares of LifePoint Hospitals (LPNT) were down by about 1.3 percent.