Insider Selling: Surgery Partners (NASDAQ:SGRY) Insider Sells $24,864.84 in Stock

Surgery Partners, Inc. (NASDAQ:SGRY) insider William Trenton Webb sold 1,794 shares of Surgery Partners stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $13.86, for a total value of $24,864.84. Following the sale, the insider owned 72,455 shares in the company, valued at $1,004,226.30. This represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

William Trenton Webb also recently made the following trade(s):

• On Friday, March 6th, William Trenton Webb sold 272 shares of Surgery Partners stock. The shares were sold at an average price of $13.93, for a total value of $3,788.96.

Surgery Partners Stock Up 4.1%

SGRY stock opened at $13.48 on Thursday. Surgery Partners, Inc. has a twelve month low of $12.25 and a twelve month high of $24.60. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $1.74 billion, a P/E ratio of -21.74 and a beta of 1.95. The firm has a 50 day simple moving average of $15.06 and a 200-day simple moving average of $17.90.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $885.00 million during the quarter, compared to the consensus estimate of $866.54 million. During the same quarter last year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SGRY. Jefferies Financial Group reaffirmed a “buy” rating on shares of Surgery Partners in a research report on Wednesday, March 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Surgery Partners in a report on Wednesday, March 4th. JPMorgan Chase & Co. reduced their target price on Surgery Partners from $27.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. US Capital Advisors set a $21.00 target price on Surgery Partners in a research report on Wednesday. Finally, Mizuho lowered their price target on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp grew its position in shares of 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 buying an additional 930 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in 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 holdings in 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 position in Surgery Partners in the third quarter valued at approximately $121,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Surgery Partners during the third quarter valued at approximately $151,000.

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.