Insider Buying: Surgery Partners (NASDAQ:SGRY) Director Acquires 10,000 Shares

Key Points

• Director Teresa Deluca purchased 10,000 Surgery Partners shares at an average price of $14.35, investing $143,500 and increasing her direct ownership by 17.59% to 66,843 shares.
• Surgery Partners shares fell 4.5% to $13.60, while the company reported quarterly EPS of $0.10 and revenue of $848.9 million, exceeding analyst estimates; revenue increased 2.7% year over year.
• Analysts maintain a “Moderate Buy” consensus, with seven Buy, three Hold and one Sell rating and an average price target of $19.45.

Surgery Partners, Inc. (NASDAQ:SGRY - Get Free Report) Director Teresa Deluca acquired 10,000 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were bought at an average cost of $14.35 per share, with a total value of $143,500.00. Following the acquisition, the director directly owned 66,843 shares in the company, valued at approximately $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Surgery Partners Trading Down 4.5%

SGRY traded down $0.64 on Wednesday, reaching $13.60. 2,090,076 shares of the company traded hands, compared to its average volume of 1,568,358. Surgery Partners, Inc. has a one year low of $11.41 and a one year high of $24.10. The firm has a fifty day simple moving average of $15.62 and a two-hundred day simple moving average of $14.40. The company has a market cap of $1.78 billion, a P/E ratio of -19.43, a price-to-earnings-growth ratio of 4.08 and a beta of 1.92. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The business had revenue of $848.90 million for the quarter, compared to analyst estimates of $830.03 million. During the same period in the previous year, the company earned $0.17 earnings per share. The business's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts expect that Surgery Partners, Inc. will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SGRY shares. Raymond James Financial set a $18.00 price target on Surgery Partners in a research note on Tuesday, August 11th. Cantor Fitzgerald restated an "overweight" rating and set a $18.00 price target on shares of Surgery Partners in a report on Tuesday, August 11th. Jefferies Financial Group reaffirmed a "buy" rating and set a $17.00 price target on shares of Surgery Partners in a report on Wednesday, May 6th. Royal Bank Of Canada lowered their target price on shares of Surgery Partners from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Finally, TD Cowen lifted their price target on Surgery Partners from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Surgery Partners presently has an average rating of "Moderate Buy" and a consensus price target of $19.45.

Institutional Trading of Surgery Partners

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Surgery Partners by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company's stock worth $1,085,000 after buying an additional 2,015 shares during the period. Millennium Management LLC grew its holdings in Surgery Partners by 1,253.7% during the 1st quarter. Millennium Management LLC now owns 202,274 shares of the company's stock valued at $4,804,000 after purchasing an additional 219,806 shares in the last quarter. Empowered Funds LLC increased its holdings in Surgery Partners by 11.0% during the 1st quarter. Empowered Funds LLC now owns 12,853 shares of the company's stock worth $305,000 after purchasing an additional 1,278 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Surgery Partners during the second quarter worth about $219,000. Finally, Invesco Ltd. raised its holdings in shares of Surgery Partners by 7.4% during the second quarter. Invesco Ltd. now owns 1,683,311 shares of the company's stock worth $37,420,000 after purchasing an additional 115,627 shares during the period.

Surgery Partners Company Profile

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.

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