Insider Selling: Surgery Partners (NASDAQ:SGRY) Insider Sells 9,339 Shares of 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 R. Bane sold 9,339 shares of the stock in a transaction that occurred on 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 directly owned 117,181 shares of the company's stock, valued at approximately $2,634,228.88. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Surgery Partners Price Performance

Shares of NASDAQ SGRY traded down $0.24 during midday trading on Friday, reaching $21.87. 1,034,555 shares of the stock traded hands, compared to its average volume of 1,240,219. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78. The stock has a market capitalization of $2.80 billion, a PE ratio of -15.29 and a beta of 1.76. Surgery Partners, Inc. has a one year low of $18.87 and a one year high of $33.90. The company's 50 day moving average is $22.45 and its 200 day moving average is $22.57.

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

Institutional Trading of Surgery Partners

A number of institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in Surgery Partners by 110.2% in the fourth quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company's stock worth $244,616,000 after buying an additional 6,057,477 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Surgery Partners by 19.7% during the first quarter. Wellington Management Group LLP now owns 7,091,756 shares of the company's stock worth $168,429,000 after purchasing an additional 1,165,667 shares during the last quarter. King Street Capital Management L.P. lifted its position in shares of Surgery Partners by 24.5% during 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 last quarter. Pentwater Capital Management LP lifted its position in shares of Surgery Partners by 545.2% during the first quarter. Pentwater Capital Management LP now owns 2,742,000 shares of the company's stock worth $65,122,000 after purchasing an additional 2,317,000 shares during the last quarter. Finally, TIG Advisors LLC bought a new stake in shares of Surgery Partners during the first quarter worth $46,902,000.

Analyst Ratings Changes

A number of research firms have recently commented on SGRY. Barclays lowered their target price on Surgery Partners from $25.00 to $24.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. Bank of America started coverage on Surgery Partners in a research report on Monday, July 28th. They set a "buy" rating and a $28.00 target price for the company. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently 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.