Surgery Partners (NASDAQ:SGRY) Insider Marissa Brittenham Sells 3,657 Shares

Surgery Partners, Inc. (NASDAQ:SGRY) insider Marissa Brittenham sold 3,657 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $12.54, for a total transaction of $45,858.78. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $13.70, for a total transaction of $120,354.50.

Surgery Partners Price Performance

Shares of NASDAQ SGRY traded up $0.01 during midday trading on Monday, reaching $12.39. 1,509,638 shares of the company were exchanged, compared to its average volume of 1,747,282. The stock’s 50-day moving average price is $14.95 and its 200-day moving average price is $17.72. The stock has a market cap of $1.60 billion, a P/E ratio of -19.98 and a beta of 1.95. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 1.15. Surgery Partners, Inc. has a one year low of $12.25 and a one year high of $24.60.

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

Surgery Partners declared that its board has approved a stock repurchase plan on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Surgery Partners

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Groupe la Francaise boosted its holdings in Surgery Partners by 26.6% in the second quarter. Groupe la Francaise now owns 186,088 shares of the company’s stock valued at $4,137,000 after acquiring an additional 39,089 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Surgery Partners by 87.9% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 146,250 shares of the company’s stock worth $3,251,000 after purchasing an additional 68,400 shares during the last quarter. AYAL Capital Advisors Ltd acquired a new position in shares of Surgery Partners in the 2nd quarter worth approximately $2,779,000. Irenic Capital Management LP boosted its stake in shares of Surgery Partners by 339.7% in the 3rd quarter. Irenic Capital Management LP now owns 1,132,203 shares of the company’s stock valued at $24,501,000 after purchasing an additional 874,704 shares during the last quarter. Finally, 8 Knots Management LLC bought a new stake in shares of Surgery Partners in the 3rd quarter valued at $4,763,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Surgery Partners in a report on Wednesday, March 4th. TD Cowen cut their target price on shares of Surgery Partners from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. UBS Group reissued a “buy” rating on shares of Surgery Partners in a report on Wednesday, March 11th. JPMorgan Chase & Co. decreased their price target on shares of Surgery Partners from $27.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Surgery Partners in a research note on Wednesday, March 4th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Surgery Partners currently has an average rating of “Moderate Buy” and an average target price of $23.36.

About Surgery Partners

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.