Insider Selling: Surgery Partners (NASDAQ:SGRY) Insider Sells 3,469 Shares of Stock

Surgery Partners, Inc. (NASDAQ:SGRY) insider Danielle Burkhalter sold 3,469 shares of Surgery Partners stock in a transaction on Friday, March 13th. The shares were sold at an average price of $12.83, for a total transaction of $44,507.27. Following the completion of the sale, the insider owned 76,864 shares in the company, valued at approximately $986,165.12. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Danielle Burkhalter also recently made the following trade(s):

• On Friday, March 6th, Danielle Burkhalter sold 7,736 shares of Surgery Partners stock. The stock was sold at an average price of $13.60, for a total transaction of $105,209.60.

Surgery Partners Price Performance

Shares of SGRY traded up $0.01 during midday trading on Monday, hitting $12.39. 1,509,638 shares of the company traded hands, compared to its average volume of 1,747,282. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -19.98 and a beta of 1.95. The firm has a 50 day moving average of $14.95 and a 200-day moving average of $17.72. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.71 and a current ratio of 1.87. Surgery Partners, Inc. has a 52 week low of $12.25 and a 52 week 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 (EPS) 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 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%.The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. On average, analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Surgery Partners declared that its board has authorized a stock repurchase plan 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 plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SGRY. Barclays decreased their price objective on Surgery Partners from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. Benchmark reissued a “buy” rating on shares of Surgery Partners in a report on Tuesday, March 3rd. JPMorgan Chase & Co. reduced their price target on shares of Surgery Partners from $27.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Royal Bank Of Canada decreased their price target on shares of Surgery Partners from $31.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Surgery Partners in a research note on Wednesday, March 4th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.36.

Institutional Investors Weigh In On Surgery Partners

Several institutional investors have recently modified their holdings of the stock. 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 worth $27,000 after purchasing an additional 930 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in 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 valued at $49,000 after buying an additional 2,282 shares during the period. PNC Financial Services Group Inc. lifted 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 buying an additional 1,519 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Surgery Partners in the third quarter worth $121,000. Finally, State of Alaska Department of Revenue purchased a new position in Surgery Partners during the third quarter worth $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.