Surgery Partners (NASDAQ:SGRY) CEO Jason Eric Evans Sells 20,400 Shares

Surgery Partners, Inc. (NASDAQ:SGRY) CEO Jason Eric Evans sold 20,400 shares of Surgery Partners stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $12.47, for a total value of $254,388.00. Following the transaction, the chief executive officer owned 920,386 shares of the company’s stock, valued at $11,477,213.42. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Jason Eric Evans also recently made the following trade(s):

• On Friday, March 6th, Jason Eric Evans sold 11,462 shares of Surgery Partners stock. The stock was sold at an average price of $13.79, for a total value of $158,060.98.

Surgery Partners Stock Up 0.1%

Shares of SGRY stock traded up $0.01 during trading hours on Monday, reaching $12.39. The company had a trading volume of 1,509,638 shares, compared to its average volume of 1,747,282. Surgery Partners, Inc. has a 12 month low of $12.25 and a 12 month high of $24.60. 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 business has a fifty day simple moving average of $14.95 and a 200-day simple moving average of $17.72. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -19.98 and a beta of 1.95.

Surgery Partners (NASDAQ:SGRY) 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 company had revenue of $885.00 million for 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. On average, research analysts expect that Surgery Partners, Inc. will post 0.67 earnings per share for the current fiscal year.

Surgery Partners declared that its board has initiated a share buyback program on Thursday, February 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 9.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its position in Surgery Partners by 313.1% during the third quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock valued at $27,000 after buying an additional 930 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Surgery Partners by 45,640.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after acquiring an additional 2,282 shares during the period. PNC Financial Services Group Inc. boosted its stake 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 valued at $58,000 after acquiring an additional 1,519 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Surgery Partners in the third quarter valued at about $121,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Surgery Partners during the 3rd quarter valued at approximately $151,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Mizuho dropped their price target on shares of Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Royal Bank Of Canada reduced their price objective on shares of Surgery Partners from $31.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a research note on Monday, December 29th. Benchmark reissued a “buy” rating on shares of Surgery Partners in a research report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. cut their target price on Surgery Partners from $27.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Surgery Partners presently has an average rating of “Moderate Buy” and a consensus price target of $23.36.

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.