David Doherty Sells 8,867 Shares of Surgery Partners (NASDAQ:SGRY) Stock

Surgery Partners, Inc. (NASDAQ:SGRY) CFO David Doherty sold 8,867 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $12.50, for a total value of $110,837.50. Following the transaction, the chief financial officer directly owned 221,679 shares in the company, valued at approximately $2,770,987.50. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Surgery Partners Stock Up 0.1%

Shares of Surgery Partners stock traded up $0.01 during trading on Monday, reaching $12.39. The company’s stock had a trading volume of 1,509,638 shares, compared to its average volume of 1,747,282. Surgery Partners, Inc. has a 1-year low of $12.25 and a 1-year high of $24.60. The company has a 50-day simple moving average of $14.95 and a two-hundred day simple moving average of $17.72. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 1.15. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -19.98 and a beta of 1.95.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Monday, March 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.19). Surgery Partners had a negative net margin of 2.35% and a positive return on equity of 1.28%. 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 company earned $0.44 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Surgery Partners announced that its Board of Directors has authorized a share buyback program on Thursday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective 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. Mizuho dropped their target price on shares of Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Surgery Partners in a research note on Monday, December 29th. TD Cowen decreased their price target on shares of Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Benchmark reiterated a “buy” rating on shares of Surgery Partners in a research note on Tuesday, March 3rd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.36.

Institutional Investors Weigh In On Surgery Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. State of Wisconsin Investment Board boosted its position in Surgery Partners by 0.4% in the fourth quarter. State of Wisconsin Investment Board now owns 151,504 shares of the company’s stock valued at $2,341,000 after buying an additional 668 shares during the last quarter. ProShare Advisors LLC raised its position in Surgery Partners by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 14,135 shares of the company’s stock worth $218,000 after buying an additional 909 shares during the last quarter. Jones Financial Companies Lllp lifted its stake 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 acquiring an additional 930 shares during the period. California State Teachers Retirement System lifted its stake in Surgery Partners by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 65,091 shares of the company’s stock valued at $1,447,000 after acquiring an additional 1,021 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Surgery Partners by 7.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,582 shares of the company’s stock valued at $391,000 after acquiring an additional 1,176 shares during the last quarter.

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.