Two analysts following AmSurg have raised their price targets for shares of the surgery center operator after it reported solid second-quarter results — but kept their ratings at 'hold.' Cantor Fitzgerald's Joe France now sees the stock going to $37 (from $31) while Kevin Ellich hiked his target to $36 from $32. But both of those targets are still well below shares of AmSurg (Ticker: AMSG), which ended Wednesday trading at $39.11, up slightly on the day. So far this year, they've risen 30 percent.
AmSurg executives have struck a deal with their banks to cut the interest rate on their revolving line of credit by 25 to 50 basis points and to extend its maturity date by a year to mid-2018. As of March 31, Burton Hills-based AmSurg had $267 million outstanding on the $475 million line, which carried an average interest rate of 2.5 percent in 2012. Last June, AmSurg also negotiated a 25 basis point cut.
Interested in finding out the terms (and goodies) AmSurg is getting from Eakin Partners to relocate its headquarters to the new 110,000-square-foot Burton Hills VI building for at least 15 years? They're all listed here, led by the $20.75-per-square-foot lease rate — some space in the nearby Burton Hills II is listed for $27.50 — and an allowance of almost $4.4 million for AmSurg to use on fees and amenities. AmSurg (Ticker: AMSG) is scheduled to move into its new space on March 1, 2015.
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