Andrew Stapp at Hilliard Lyons liked the look of Pinnacle Financial Partners' fourth-quarter numbers. He has hiked his rating on the shares of Nashville's biggest bank to 'buy' from 'long-term buy.' Pinnacle (Ticker: PNFP) ended last week at $37.80 and is up about 5 percent over the past three months.
Over at Piper Jaffray, Kevin Ellich has upgraded AmSurg to 'overweight' from 'neutral,' saying the company now trades at a better valuation. Ellich also raised his target for the Nashville-based company to $65 from $54. AmSurg (Ticker: AMSG) shares finished Friday trading at $55.31 and have climbed about 10 percent over the past three months.
AmSurg executives have signed an agreement to lease more than 200,000 square feet in South Florida, starting in September of next year, for their Sheridan physician services subsidiary. The two-building lease runs through early 2029 and will have the Sheridan home office team move a few miles east from their current spot.
AmSurg Corp. said it has inked an affiliation agreement between its physician services division, Sheridan, and Ambulatory Anesthesia Care PC, a group practice serving facilities in New Jersey as part of plan to beef up its presence in the New York market.
Through the agreement, terms of which were not disclosed, Ambulatory Anesthesia Care is now the exclusive provider of anesthesia to The Center for Ambulatory Surgery in nearby Mountainside, which is an AmSurg multi-specialty partnership.
"This is a great example of the potential synergy we envisioned when Sheridan and AmSurg joined forces," Chris Holden, AmSurg president and CEO, said in a release. "We will continue to pursue arrangements like this that contribute to AmSurg's growth and better position all parties involved to deliver high quality patient care."
Shares of AmSurg (Ticker: AMSG) were up to $53.95 Wednesday morning. In the last three months, they are up 10 percent.
Avondale Partners analyst Paula Torch has begun covering shares of AmSurg and says the Nashville-based owner of surgery centers and physician services provider Sheridan can climb about 20 percent in 2015 as it realizes cost savings and adds to its holdings via more acquisitions. Her price target for AmSurg (Ticker: AMSG) is $66; the company closed Friday trading at $54.49.
Surgery Center Holdings has wrapped up its $792 million acquisition of locally based competitor Symbion. The combined company will generate total revenues of more than $900 million from facilities in 26 states. As part of the deal, CEO Richard Francis and President and COO Cliff Adlerz have resigned from their positions, starting the clock on their noncompete and nonsolicitation agreements.
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