Shares of AmSurg are up more than 2 percent in mid-day trading and earlier reached $31 for the first time, pushing the company's market cap ever so close to $1 billion. The surgery center operator has now climbed almost 20 percent so far this year — even though it's been very quiet on the corporate news front — and has outpaced the S&P 500 by 12 percent in the past 12 months.
Turns out there are quite a few people who would like to see the end of Tom Cigarran's two-decade involvement with surgery center operator AmSurg.
At AmSurg's annual meeting of shareholders last week, investors overwhelmingly voted in favor of various par-for-the-course proposals as well as the re-election to three-year terms of directors Cynthia Miller and John Popp. Not so with Cigarran, chairman of AmSurg from 1992 to 2009 and its CEO for four years during the '90s. He received just 58.5 percent of the possible votes.
Cantor Fitzgerald analyst Joe France says investors shouldn't look to AmSurg for price appreciation in the near future. Initiating coverage with a 'hold' rating and a price target of $26, France says "the extent of the market's recovery is unclear" and that CEO Chris Holden and his team have their hands full integrating National Surgical Care. Shares of AmSurg (Ticker: AMSG) closed Monday trading just above $26 and are flat for the year.
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