Surgery Partners (NASDAQ:SGRY) Insider Sells $76,359.66 in Stock

Surgery Partners, Inc. (NASDAQ:SGRY) insider Jennifer Baldock sold 5,798 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $13.17, for a total value of $76,359.66. Following the sale, the insider directly owned 326,474 shares in the company, valued at $4,299,662.58. This trade represents a 1.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Jennifer Baldock also recently made the following trade(s):

• On Friday, March 6th, Jennifer Baldock sold 10,082 shares of Surgery Partners stock. The stock was sold at an average price of $13.70, for a total value of $138,123.40.

Surgery Partners Stock Down 2.3%

SGRY stock opened at $12.36 on Thursday. The stock has a 50-day simple moving average of $14.77 and a two-hundred day simple moving average of $17.54. Surgery Partners, Inc. has a twelve month low of $12.12 and a twelve month high of $24.60. 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 quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 1.15.

Surgery Partners (NASDAQ:SGRY) last announced 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 firm had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $866.54 million. During the same period in the previous year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp raised 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 in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings 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 during the last quarter. PNC Financial Services Group Inc. grew its position 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 in the last quarter. Aquatic Capital Management LLC purchased a new position in Surgery Partners in the third quarter worth $121,000. Finally, State of Alaska Department of Revenue bought a new position in Surgery Partners in the third quarter valued at $151,000.

Analysts Set New Price Targets

SGRY has been the subject of several analyst reports. UBS Group reissued a “buy” rating on shares of Surgery Partners in a report on Wednesday, March 11th. US Capital Advisors set a $21.00 price objective on Surgery Partners in a research report on Wednesday, March 11th. Jefferies Financial Group reissued a “buy” rating on shares of Surgery Partners in a research note on Wednesday, March 4th. TD Cowen reduced their target price on Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Finally, Barclays decreased their target price on Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock 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.