Surgery Partners (NASDAQ:SGRY) CEO Sells $254,388.00 in Stock

Surgery Partners, Inc. (NASDAQ:SGRY) CEO Jason Eric Evans sold 20,400 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $12.47, for a total value of $254,388.00. Following the sale, the chief executive officer owned 920,386 shares in the company, valued at approximately $11,477,213.42. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Jason Eric Evans also recently made the following trade(s):

• On Friday, March 6th, Jason Eric Evans sold 11,462 shares of Surgery Partners stock. The shares were sold at an average price of $13.79, for a total transaction of $158,060.98.

Surgery Partners Stock Down 2.3%

SGRY stock opened at $12.36 on Thursday. The company’s 50 day simple moving average is $14.77 and its 200-day simple moving average is $17.54. The firm has a market capitalization of $1.60 billion, a PE ratio of -19.94 and a beta of 1.95. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.87 and a quick ratio of 1.71. Surgery Partners, Inc. has a 12 month low of $12.12 and a 12 month high of $24.60.

Surgery Partners (NASDAQ:SGRY) last released 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). 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 for the quarter, compared to analysts’ expectations of $866.54 million. During the same period in the previous year, the business posted $0.44 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Surgery Partners announced that its board has approved a share repurchase program on Thursday, February 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 9.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Surgery Partners

Several large investors have recently added to or reduced their stakes in SGRY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Surgery Partners by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock valued at $1,085,000 after buying an additional 2,015 shares during the period. Millennium Management LLC lifted its holdings in shares of Surgery Partners by 1,253.7% during the 1st quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock worth $4,804,000 after acquiring an additional 219,806 shares during the period. Empowered Funds LLC lifted its holdings in shares of Surgery Partners by 11.0% during the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock worth $305,000 after acquiring an additional 1,278 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Surgery Partners by 7.5% in the second quarter. Envestnet Asset Management Inc. now owns 32,763 shares of the company’s stock worth $728,000 after acquiring an additional 2,284 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Surgery Partners by 0.5% in the second quarter. Geode Capital Management LLC now owns 1,916,384 shares of the company’s stock worth $42,606,000 after acquiring an additional 9,836 shares during the last quarter.

Analyst Upgrades and Downgrades

SGRY has been the topic of a number of recent research reports. Royal Bank Of Canada reduced their target price 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. US Capital Advisors set a $21.00 price target on shares of Surgery Partners in a report on Wednesday, March 11th. Jefferies Financial Group reissued a “buy” rating on shares of Surgery Partners in a research report on Wednesday, March 4th. TD Cowen reduced 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. Finally, UBS Group restated a “buy” rating on shares of Surgery Partners in a research report on Wednesday, March 11th. Eight 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 stock. Based on data from MarketBeat, Surgery Partners currently has a consensus 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.