Insider Selling: Surgery Partners (NASDAQ:SGRY) CEO Sells $158,060.98 in Stock

Surgery Partners, Inc. (NASDAQ:SGRY) CEO Jason Eric Evans sold 11,462 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $13.79, for a total transaction of $158,060.98. Following the sale, the chief executive officer owned 662,680 shares of the company’s stock, valued at approximately $9,138,357.20. The trade was a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Surgery Partners Price Performance

Shares of SGRY stock opened at $13.48 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.87 and a quick ratio of 1.71. The firm’s 50-day moving average is $15.06 and its two-hundred day moving average is $17.90. Surgery Partners, Inc. has a 12 month low of $12.25 and a 12 month high of $24.60. The company has a market capitalization of $1.74 billion, a PE ratio of -21.74 and a beta of 1.95.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results 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). The firm had revenue of $885.00 million during 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 quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. Analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Surgery Partners declared that its board has approved a share repurchase plan on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows 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 board believes its stock is undervalued.

Institutional Trading of Surgery Partners

Hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC grew its holdings in shares of Surgery Partners by 3.8% in the fourth quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company’s stock valued at $209,162,000 after purchasing an additional 501,401 shares in the last quarter. Pentwater Capital Management LP increased its stake in Surgery Partners by 66.9% during the 3rd quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock worth $252,777,000 after buying an additional 4,681,000 shares during the period. UBS Group AG lifted its holdings in Surgery Partners by 111.4% during the 4th quarter. UBS Group AG now owns 7,803,974 shares of the company’s stock worth $120,571,000 after buying an additional 4,113,052 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Surgery Partners by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 7,614,514 shares of the company’s stock worth $164,778,000 after buying an additional 424,518 shares in the last quarter. Finally, King Street Capital Management L.P. boosted its position in Surgery Partners by 24.5% in the 2nd quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company’s stock valued at $138,382,000 after buying an additional 1,225,000 shares during the period.

Analyst Upgrades and Downgrades

SGRY has been the subject of several recent analyst reports. TD Cowen cut their target price on Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Surgery Partners in a research note on Monday, December 29th. JPMorgan Chase & Co. cut their price objective on Surgery Partners from $27.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Benchmark restated a “buy” rating on shares of Surgery Partners in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada reduced their price objective on shares of Surgery Partners from $31.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Eight 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, the stock currently has an average rating of “Moderate Buy” and an average target price 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.