Surgery Partners (NASDAQ:SGRY) Insider Sells $45,858.78 in Stock

Surgery Partners, Inc. (NASDAQ:SGRY) insider Marissa Brittenham sold 3,657 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $12.54, for a total value of $45,858.78. Following the sale, the insider directly owned 94,196 shares of the company’s stock, valued at approximately $1,181,217.84. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Marissa Brittenham also recently made the following trade(s):

• On Friday, March 6th, Marissa Brittenham sold 8,785 shares of Surgery Partners stock. The stock was sold at an average price of $13.70, for a total transaction of $120,354.50.

Surgery Partners Stock Performance

Shares of SGRY opened at $12.36 on Thursday. The firm has a market cap of $1.60 billion, a P/E ratio of -19.94 and a beta of 1.95. Surgery Partners, Inc. has a twelve month low of $12.12 and a twelve month high of $24.60. 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’s 50 day moving average price is $14.77 and its two-hundred day moving average price is $17.54.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings data 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). 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 the consensus estimate of $866.54 million. During the same period in the prior year, the company earned $0.44 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. On average, analysts forecast that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Surgery Partners declared that its Board of Directors has authorized a share buyback program on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays dropped their price target 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. UBS Group reiterated a “buy” rating on shares of Surgery Partners in a report on Wednesday, March 11th. Mizuho dropped their target price on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Jefferies Financial Group restated a “buy” rating on shares of Surgery Partners in a research note on Wednesday, March 4th. Finally, US Capital Advisors set a $21.00 price target on Surgery Partners in a research report on Wednesday, March 11th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.36.

Institutional Investors Weigh In On Surgery Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 acquiring an additional 2,015 shares in the last quarter. Millennium Management LLC raised its holdings in Surgery Partners by 1,253.7% during the first 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 in the last quarter. Empowered Funds LLC boosted its position in Surgery Partners by 11.0% during the first quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock valued at $305,000 after purchasing an additional 1,278 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Surgery Partners by 7.5% during the second quarter. Envestnet Asset Management Inc. now owns 32,763 shares of the company’s stock valued at $728,000 after purchasing an additional 2,284 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Surgery Partners by 0.5% in the second quarter. Geode Capital Management LLC now owns 1,916,384 shares of the company’s stock valued at $42,606,000 after purchasing an additional 9,836 shares in the last quarter.

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.