Jennifer Baldock Sells 5,798 Shares of Surgery Partners (NASDAQ:SGRY) Stock

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

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 transaction of $138,123.40.

Surgery Partners Price Performance

Shares of Surgery Partners stock traded up $0.01 during trading hours on Monday, reaching $12.39. 1,509,638 shares of the company’s stock were exchanged, compared to its average volume of 1,747,282. The business has a fifty day moving average of $14.95 and a two-hundred day moving average of $17.72. The company has a market capitalization of $1.60 billion, a P/E ratio of -19.98 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, Inc. has a 1 year low of $12.25 and a 1 year high of $24.60.

Surgery Partners (NASDAQ:SGRY) last posted 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). The business had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $866.54 million. Surgery Partners had a positive return on equity of 1.28% and a negative net margin of 2.35%.The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. As a group, research analysts predict 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 buyback plan on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

SGRY has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on Surgery Partners from $27.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. UBS Group reiterated a “buy” rating on shares of Surgery Partners in a research 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. Barclays lowered their price objective 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. Finally, Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a research note on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.36.

Hedge Funds Weigh In On Surgery Partners

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in shares of Surgery Partners by 104.2% in the 4th quarter. Hsbc Holdings PLC now owns 1,931,577 shares of the company’s stock valued at $30,151,000 after buying an additional 985,748 shares during the period. Alpine Global Management LLC purchased a new stake in shares of Surgery Partners during the 4th quarter valued at approximately $175,000. Empowered Funds LLC raised its position in shares of Surgery Partners by 1,340.9% during the 4th quarter. Empowered Funds LLC now owns 161,419 shares of the company’s stock valued at $2,494,000 after buying an additional 150,216 shares during the period. One68 Global Capital LLC acquired a new position in Surgery Partners in the fourth quarter valued at approximately $371,000. Finally, Man Group plc acquired a new position in Surgery Partners in the fourth quarter valued at approximately $5,080,000.

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.