Insider Selling: Surgery Partners (NASDAQ:SGRY) CFO Sells $201,704.16 in Stock

Surgery Partners, Inc. (NASDAQ:SGRY) CFO David Doherty sold 14,574 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $13.84, for a total transaction of $201,704.16. Following the completion of the sale, the chief financial officer directly owned 88,803 shares of the company’s stock, valued at $1,229,033.52. The trade was a 14.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Surgery Partners Price Performance

Surgery Partners stock opened at $13.48 on Thursday. The stock has a market cap of $1.74 billion, a P/E ratio of -21.74 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. The company’s 50 day moving average price is $15.06 and its two-hundred day moving average price is $17.90. Surgery Partners, Inc. has a 52 week low of $12.25 and a 52 week high of $24.60.

Surgery Partners (NASDAQ:SGRY) last issued 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 business had revenue of $885.00 million for the quarter, compared to analysts’ expectations of $866.54 million. Surgery Partners had a negative net margin of 2.35% and a positive return on equity of 1.28%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. On average, equities analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Surgery Partners announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 9.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Surgery Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its holdings in shares of Surgery Partners by 313.1% in the third quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after acquiring an additional 930 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Surgery Partners by 45,640.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock valued at $49,000 after purchasing an additional 2,282 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Surgery Partners by 128.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock valued at $58,000 after purchasing an additional 1,519 shares during the period. Aquatic Capital Management LLC purchased a new stake in Surgery Partners during the 3rd quarter worth about $121,000. Finally, State of Alaska Department of Revenue purchased a new stake in Surgery Partners during the 3rd quarter worth about $151,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SGRY. US Capital Advisors set a $21.00 price target on shares of Surgery Partners in a report on Wednesday. UBS Group restated a “buy” rating on shares of Surgery Partners in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Surgery Partners in a research report on Wednesday, March 4th. Benchmark reiterated a “buy” rating on shares of Surgery Partners in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Surgery Partners in a research report on Monday, December 29th. Eight 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.