Insider Selling: Surgery Partners (NASDAQ:SGRY) Insider Sells 3,657 Shares of Stock

Surgery Partners, Inc. (NASDAQ:SGRY) insider Marissa Brittenham sold 3,657 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $12.54, for a total transaction of $45,858.78. Following the sale, the insider directly owned 94,196 shares of the company’s stock, valued at approximately $1,181,217.84. The trade was a 3.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Marissa Brittenham also recently made the following trade(s):

• On Friday, March 6th, Marissa Brittenham sold 8,785 shares of Surgery Partners stock. The stock was sold at an average price of $13.70, for a total transaction of $120,354.50.

Surgery Partners Trading Up 0.1%

SGRY traded up $0.01 during mid-day trading on Monday, reaching $12.39. The stock had a trading volume of 1,509,638 shares, compared to its average volume of 1,747,282. The stock has a market capitalization of $1.60 billion, a P/E ratio of -19.98 and a beta of 1.95. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.71 and a current ratio of 1.87. Surgery Partners, Inc. has a 52 week low of $12.25 and a 52 week high of $24.60. The firm’s fifty day simple moving average is $14.95 and its two-hundred day simple moving average is $17.72.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, March 2nd. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.19). The business had revenue of $885.00 million for the quarter, compared to the consensus estimate of $866.54 million. Surgery Partners had a positive return on equity of 1.28% and a negative net margin of 2.35%.The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, equities analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Surgery Partners declared that its board has authorized a stock repurchase program on Thursday, February 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 9.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SGRY shares. Jefferies Financial Group reiterated a “buy” rating on shares of Surgery Partners in a research report on Wednesday, March 4th. Mizuho lowered their target price on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Benchmark reiterated a “buy” rating on shares of Surgery Partners in a research note on Tuesday, March 3rd. TD Cowen dropped their price target on Surgery Partners from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, Barclays lowered their price target on shares of Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.36.

Institutional Trading of Surgery Partners

A number of institutional investors and hedge funds have recently made changes to their positions in SGRY. Jones Financial Companies Lllp lifted its stake in Surgery Partners by 313.1% during the third quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after purchasing an additional 930 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Surgery Partners by 45,640.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after acquiring an additional 2,282 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Surgery Partners by 128.4% in the third quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock worth $58,000 after acquiring an additional 1,519 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Surgery Partners in the 3rd quarter valued at approximately $121,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Surgery Partners in the 3rd quarter valued at approximately $151,000.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.