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 stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 221,679 shares in the company, valued at approximately $2,770,987.50. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Surgery Partners Trading Up 0.1%

SGRY traded up $0.01 during trading on Monday, hitting $12.39. 1,509,638 shares of the stock were exchanged, compared to its average volume of 1,747,282. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.71 and a current ratio of 1.87. The firm has a 50 day simple moving average of $14.95 and a 200 day simple moving average of $17.72. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -19.98 and a beta of 1.95. Surgery Partners, Inc. has a 1 year low of $12.25 and a 1 year high of $24.60.

Surgery Partners (NASDAQ:SGRY) last issued its 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). Surgery Partners had a positive return on equity of 1.28% and a negative net margin of 2.35%.The firm had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $866.54 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. Surgery Partners’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that Surgery Partners, Inc. will post 0.67 EPS for the current year.

Surgery Partners announced that its board has authorized a stock repurchase plan on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits 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 of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group reiterated a “buy” rating on shares of Surgery Partners in a report on Wednesday, March 11th. Royal Bank Of Canada reduced their price target on shares of Surgery Partners from $31.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Surgery Partners in a report on Wednesday, March 4th. Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a research report on Tuesday, March 3rd. Finally, TD Cowen dropped their price objective on shares of Surgery Partners from $28.00 to $20.00 and set a “buy” rating on the stock in a research note 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.36.

Institutional Trading of Surgery Partners

Several hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in shares of Surgery Partners by 313.1% in 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 in the last quarter. 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 worth $49,000 after acquiring an additional 2,282 shares in the last quarter. 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 worth $58,000 after acquiring an additional 1,519 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Surgery Partners during the third quarter valued at approximately $121,000. Finally, State of Alaska Department of Revenue acquired a new stake in Surgery Partners in 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.