Key Points
- CEO Jason Eric Evans sold 20,400 shares on March 16 at an average price of $12.47 for proceeds of $254,388, trimming his stake by 2.17% but still holding 920,386 shares (~$11.48M).
- Surgery Partners reported quarterly EPS of $0.12, missing the $0.31 consensus while revenue of $885 million slightly beat estimates and the company posted a negative net margin of 2.35%.
- The Board authorized a $200 million share repurchase program, allowing the company to buy back up to about 9.7% of outstanding shares.
Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) 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 value of $44,507.27. Following the sale, the insider directly owned 76,864 shares of the company's stock, valued at approximately $986,165.12. The trade was a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 value of $105,209.60.
Surgery Partners Stock Up 0.1%
SGRY opened at $12.39 on Tuesday. Surgery Partners, Inc. has a fifty-two week low of $12.25 and a fifty-two week high of $24.60. The business has a 50-day moving average of $14.89 and a 200-day moving average of $17.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.87 and a quick ratio of 1.71. The company has a market capitalization of $1.60 billion, a PE ratio of -19.98 and a beta of 1.95.
Surgery Partners (NASDAQ:SGRY - Get Free Report) last announced its quarterly 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 for the quarter, compared to analyst estimates of $866.54 million. Surgery Partners had a negative net margin of 2.35% and a positive return on equity of 1.28%. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Equities research 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 stock repurchase plan on Thursday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 9.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.
Institutional Trading of Surgery Partners
Several large investors have recently modified their holdings of SGRY. Janus Henderson Group PLC grew its stake in Surgery Partners by 3.8% in the 4th quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company's stock valued at $209,162,000 after buying an additional 501,401 shares during the last quarter. Pentwater Capital Management LP lifted its position in Surgery Partners by 66.9% during the 3rd quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company's stock worth $252,777,000 after acquiring an additional 4,681,000 shares during the last quarter. UBS Group AG lifted its position in Surgery Partners by 111.4% during the 4th quarter. UBS Group AG now owns 7,803,974 shares of the company's stock worth $120,571,000 after acquiring an additional 4,113,052 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Surgery Partners by 5.9% in the third quarter. Vanguard Group Inc. now owns 7,614,514 shares of the company's stock valued at $164,778,000 after purchasing an additional 424,518 shares during the last quarter. Finally, King Street Capital Management L.P. increased its stake in shares of Surgery Partners by 24.5% in the second quarter. King Street Capital Management L.P. now owns 6,225,000 shares of the company's stock worth $138,382,000 after purchasing an additional 1,225,000 shares during the period.
More Surgery Partners News
Here are the key news stories impacting Surgery Partners this week:
- Negative Sentiment: CEO Jason Eric Evans sold 20,400 shares at an average price of $12.47 for proceeds of $254,388; he still holds 920,386 shares worth about $11.48M. Form 4 CEO Sale
- Negative Sentiment: CFO David T. Doherty sold 8,867 shares at an average of $12.50 for roughly $110,838; post‑sale ownership is 221,679 shares. Form 4 CFO Sale
- Negative Sentiment: Jennifer Baldock sold 5,798 shares at $13.17 for proceeds of $76,359.66; she retains 326,474 shares. Form 4 Baldock Sale
- Negative Sentiment: Marissa Brittenham sold 3,657 shares at $12.54 for about $45,858.78; post‑sale holdings are 94,196 shares. Form 4 Brittenham Sale
- Negative Sentiment: Danielle Burkhalter sold 3,469 shares at $12.83 for about $44,507.27; she now owns 76,864 shares. Form 4 Burkhalter Sale
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. UBS Group restated a "buy" rating on shares of Surgery Partners in a research note on Wednesday, March 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Surgery Partners in a research note on Wednesday, March 4th. Barclays lowered their target price on shares of Surgery Partners from $18.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 3rd. Cantor Fitzgerald restated an "overweight" rating on shares of Surgery Partners in a report on Wednesday, March 4th. Finally, Benchmark reaffirmed a "buy" rating on shares of Surgery Partners in a research report on Tuesday, March 3rd. Eight equities research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $23.36.
Read Our Latest Report on SGRY
About Surgery Partners
(
Get Free Report)
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.
Further Reading
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