Insider Selling: Surgery Partners (NASDAQ:SGRY) Insider Sells $105,209.60 in Stock

Surgery Partners, Inc. (NASDAQ:SGRY) insider Danielle Burkhalter sold 7,736 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $13.60, for a total transaction of $105,209.60. Following the transaction, the insider directly owned 37,103 shares of the company’s stock, valued at approximately $504,600.80. This represents a 17.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Surgery Partners Trading Up 4.1%

Shares of NASDAQ:SGRY opened at $13.48 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.71 and a current ratio of 1.87. The stock’s 50-day moving average is $15.06 and its 200-day moving average is $17.90. The company has a market cap of $1.74 billion, a P/E ratio of -21.74 and a beta of 1.95. Surgery Partners, Inc. has a 52-week low of $12.25 and a 52-week high of $24.60.

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

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

Institutional Investors Weigh In On Surgery Partners

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

Wall Street Analyst Weigh In

SGRY has been the topic of several research analyst reports. US Capital Advisors set a $21.00 price target on shares of Surgery Partners in a research report on Wednesday. Cantor Fitzgerald restated an “overweight” rating on shares of Surgery Partners in a research report on Wednesday, March 4th. Royal Bank Of Canada cut their price objective on Surgery Partners from $31.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Barclays reduced their target price on shares of Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 3rd. Finally, Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a report on Tuesday, March 3rd. Eight investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.36.

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.