Insider Selling: Surgery Partners, Inc. (NASDAQ:SGRY) CEO Sells $680,238.00 in Stock

Surgery Partners, Inc. (NASDAQ:SGRY) CEO Jason Eric Evans sold 26,520 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $25.65, for a total transaction of $680,238.00. Following the completion of the sale, the chief executive officer now directly owns 560,698 shares in the company, valued at $14,381,903.70. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Surgery Partners Stock Performance

Shares of SGRY stock opened at $25.35 on Thursday. The company has a market capitalization of $3.22 billion, a P/E ratio of -52.81, a P/E/G ratio of 17.77 and a beta of 2.60. Surgery Partners, Inc. has a 12-month low of $19.50 and a 12-month high of $35.29. The business’s 50 day moving average is $21.99 and its two-hundred day moving average is $26.84. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The company had revenue of $770.40 million during the quarter, compared to analyst estimates of $768.99 million. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. Surgery Partners’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. Analysts expect that Surgery Partners, Inc. will post 0.71 EPS for the current fiscal year.

Institutional Trading of Surgery Partners

Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new position in shares of Surgery Partners during the third quarter valued at approximately $1,469,000. King Street Capital Management L.P. acquired a new stake in shares of Surgery Partners in the 3rd quarter worth $46,748,000. Royce & Associates LP increased its stake in shares of Surgery Partners by 12.2% in the 3rd quarter. Royce & Associates LP now owns 510,261 shares of the company’s stock worth $16,451,000 after acquiring an additional 55,545 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Surgery Partners by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company’s stock valued at $60,117,000 after acquiring an additional 42,897 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Surgery Partners by 140.4% in the third quarter. Victory Capital Management Inc. now owns 1,330,399 shares of the company’s stock valued at $42,892,000 after purchasing an additional 777,038 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, December 3rd. Royal Bank of Canada lowered their target price on Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Bank of America started coverage on Surgery Partners in a report on Monday, December 16th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Macquarie reissued an “outperform” rating and issued a $34.00 price target on shares of Surgery Partners in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Surgery Partners has an average rating of “Moderate Buy” and a consensus price target of $36.56.

About Surgery Partners

Surgery Partners, Inc, together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.