Harrison Bane Sells 9,339 Shares of Surgery Partners (NASDAQ:SGRY) Stock

Key Points

• Insider Harrison Bane sold 9,339 shares of Surgery Partners stock at an average price of $22.48, resulting in a total transaction value of $209,940.72, and reduced their ownership by 7.38%.
• Surgery Partners recently reported a quarterly EPS of $0.17, exceeding analyst estimates by $0.01, with revenue of $826.20 million, an 8.4% increase from the previous year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Surgery Partners, with an average target price of $33.00, reflecting optimism about future growth.

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) insider Harrison Bane sold 9,339 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $22.48, for a total transaction of $209,940.72. Following the sale, the insider owned 117,181 shares in the company, valued at $2,634,228.88. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Surgery Partners Trading Down 1.9%

NASDAQ:SGRY traded down $0.43 during mid-day trading on Monday, hitting $22.08. 1,055,529 shares of the stock traded hands, compared to its average volume of 1,398,757. The company has a quick ratio of 1.78, a current ratio of 1.93 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -15.44 and a beta of 1.76. The firm's 50 day moving average is $22.48 and its two-hundred day moving average is $22.66. Surgery Partners, Inc. has a 52 week low of $18.87 and a 52 week high of $33.90.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The business had revenue of $826.20 million for the quarter, compared to the consensus estimate of $816.96 million. Surgery Partners had a negative net margin of 5.57% and a positive return on equity of 2.51%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. On average, equities research analysts predict that Surgery Partners, Inc. will post 0.67 earnings per share for the current year.

Institutional Investors Weigh In On Surgery Partners

Large investors have recently added to or reduced their stakes in the business. AlphaQuest LLC increased its stake in Surgery Partners by 112.0% during the 1st quarter. AlphaQuest LLC now owns 1,058 shares of the company's stock worth $25,000 after buying an additional 559 shares during the period. PNC Financial Services Group Inc. grew its holdings in Surgery Partners by 86.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock worth $28,000 after acquiring an additional 542 shares in the last quarter. Summit Securities Group LLC acquired a new position in Surgery Partners during the 1st quarter worth approximately $31,000. DekaBank Deutsche Girozentrale acquired a new position in Surgery Partners during the 1st quarter worth approximately $65,000. Finally, State of Wyoming grew its holdings in Surgery Partners by 94.4% during the 4th quarter. State of Wyoming now owns 4,002 shares of the company's stock worth $85,000 after acquiring an additional 1,943 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SGRY shares. Bank of America initiated coverage on shares of Surgery Partners in a report on Monday, July 28th. They set a "buy" rating and a $28.00 target price for the company. Barclays dropped their target price on shares of Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 27th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Surgery Partners has an average rating of "Moderate Buy" and a consensus target price of $33.00.

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.

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