Surgery Partners, Inc. (NASDAQ:SGRY) Chief Financial Officer David T. Doherty recently completed a stock sale, according to the company's latest SEC filing. The transaction involved the sale of 721 shares of common stock at an average price of $28.59 per share, resulting in a total value of over $20,613.
The shares were sold on March 14, 2024, to meet tax withholding obligations related to the vesting of restricted stock. This is a common practice for executives receiving stock-based compensation, where a portion of the stock is sold to cover income taxes due upon vesting. Following the transaction, Doherty continues to hold 95,719 shares of Surgery Partners, indicating a sustained investment in the company's future.
Investors often keep a close eye on insider transactions as they can provide insights into executives' perspectives on the company's valuation and prospects. However, it is important to note that such sales can be motivated by various personal financial considerations and do not necessarily reflect a negative outlook.
Surgery Partners, based in Brentwood, Tennessee, operates in the healthcare sector, providing services through a network of surgical facilities across the United States. The company's financial leadership, under CFO Doherty, remains a key element in its strategy to grow and manage its operations effectively.
For those interested in the specifics of the transaction, Doherty has committed to providing full information regarding the number of shares sold at each separate price upon request, as noted in the SEC filing's footnotes.
Investors are encouraged to review the full details of the filing to understand the context of these transactions fully.
InvestingPro Insights
In light of the recent insider stock sale by Surgery Partners, Inc.'s (NASDAQ:SGRY) CFO, investors may be seeking additional context to gauge the company's financial health and future prospects. The latest metrics from InvestingPro offer a snapshot of Surgery Partners' current financial position:
- The market capitalization of Surgery Partners stands at approximately $3.58 billion, reflecting the company's valuation based on the current market sentiment.
- With a negative P/E ratio of -300.74, the company has not been profitable over the last twelve months. However, analysts are optimistic, predicting that the company will turn profitable this year.
- Revenue growth remains positive, with an 8.03% increase over the last twelve months as of Q4 2023, indicating the company's capacity to expand its top-line figures.
Two InvestingPro Tips that may be particularly relevant to investors in light of this insider transaction are:
- Surgery Partners is expected to see net income growth this year, which could signal an improvement in financial performance and potentially impact the stock's future trajectory.
- The stock has experienced significant volatility, with a one-month price total return of -17.15%, which may suggest a higher risk-reward ratio for investors.
It's worth noting that Surgery Partners does not pay dividends, which may influence the investment decisions of income-focused shareholders. For those interested in a deeper dive into Surgery Partners' financials, there are additional InvestingPro Tips available. In fact, there are 4 more InvestingPro Tips that can offer further insights, accessible through the company's page on InvestingPro: https://www.investing.com/pro/SGRY.
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