Surgery Partners (NASDAQ:SGRY) Insider Sells $120,354.50 in Stock

Surgery Partners, Inc. (NASDAQ:SGRY) insider Marissa Brittenham sold 8,785 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $13.70, for a total value of $120,354.50. Following the sale, the insider owned 54,623 shares in the company, valued at $748,335.10. The trade was a 13.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Surgery Partners Trading Up 4.1%

Shares of NASDAQ SGRY opened at $13.48 on Thursday. Surgery Partners, Inc. has a 12-month low of $12.25 and a 12-month high of $24.60. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -21.74 and a beta of 1.95. 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 stock’s 50 day simple moving average is $15.06 and its 200 day simple moving average is $17.90.

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

Surgery Partners declared that its board has approved a stock repurchase program on Thursday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy 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.

Institutional Investors Weigh In On Surgery Partners

Several large investors have recently modified their holdings of SGRY. State of Wisconsin Investment Board lifted its stake in Surgery Partners by 0.4% in the 4th quarter. State of Wisconsin Investment Board now owns 151,504 shares of the company’s stock worth $2,341,000 after acquiring an additional 668 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Surgery Partners by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 14,135 shares of the company’s stock worth $218,000 after purchasing an additional 909 shares during the period. Jones Financial Companies Lllp grew its position in Surgery Partners by 313.1% during the third 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. California State Teachers Retirement System increased its stake in Surgery Partners by 1.6% in the 2nd quarter. California State Teachers Retirement System now owns 65,091 shares of the company’s stock valued at $1,447,000 after buying an additional 1,021 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in 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 buying an additional 1,176 shares during the period.

Wall Street Analyst Weigh In

SGRY has been the topic of several analyst reports. US Capital Advisors set a $21.00 target price on Surgery Partners in a research report on Wednesday. Benchmark reiterated a “buy” rating on shares of Surgery Partners in a research report on Tuesday, March 3rd. Royal Bank Of Canada lowered their price target on Surgery Partners from $31.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Surgery Partners in a research note on Wednesday, March 4th. Finally, UBS Group reaffirmed a “buy” rating on shares of Surgery Partners in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Surgery Partners currently has a consensus 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.