Surgery Partners, Inc. (NASDAQ:SGRY) National Group President Bradley R. Owens sold 6,000 shares of company stock on May 31, 2024, according to a recent SEC filing. The shares were sold at an average price of $27.65, amounting to a total transaction value of $165,900.
The disclosed transaction price represents a weighted average, as noted in the footnotes of the filing. Owens has committed to providing further details regarding the number of shares sold at each separate price upon request.
Following the sale, Owens still retains 72,338 shares of Surgery Partners, Inc. stock, directly owned. The transaction suggests a continued interest in the company, with Owens maintaining a significant stake even after the sale.
Investors often monitor insider transactions as they provide insights into how top executives view the company's stock value. While the reasons for selling can vary widely, the sale of a large number of shares can sometimes raise questions among shareholders.
For those interested in following up on the detailed breakdown of the sale prices, Owens has indicated his willingness to supply the necessary information to the issuer, any security holder of the issuer, or the SEC staff if requested.
The sale was executed under proper legal representation, with Jennifer Baldock signing as Attorney-in-Fact on June 3, 2024.
InvestingPro Insights
As Surgery Partners, Inc. (NASDAQ:SGRY) experiences insider trading activity, investors may seek additional context to better understand the company's financial health and market position. Recent data from InvestingPro provides some intriguing insights into Surgery Partners' performance and valuation metrics.
The company currently holds a market capitalization of $3.35 billion, reflecting its overall market value as an enterprise. Despite the recent insider sales, the company's revenue has been on an upward trajectory, with a growth of 7.1% over the last twelve months as of Q1 2024. This consistent revenue growth is a positive sign and could indicate underlying business strength.
However, the valuation of Surgery Partners appears quite high, with an adjusted P/E ratio of 3919.26 for the last twelve months as of Q1 2024. This suggests that the stock is trading at a high earnings multiple, which could be a point of consideration for potential investors. Moreover, the company's stock price movements have been quite volatile, with significant swings over the last six months, as indicated by a -22.2% return over that period.
Two key InvestingPro Tips can help investors navigate this complex landscape. Firstly, analysts predict that Surgery Partners will be profitable this year, which may provide some reassurance amidst the high valuation and stock volatility. Secondly, the company has been profitable over the last twelve months, which is a testament to its ability to generate earnings.
For investors seeking a deeper dive into Surgery Partners' financials and future prospects, InvestingPro offers a comprehensive suite of additional tips. Currently, there are 7 additional tips available that can provide a more nuanced understanding of the company's performance and potential investment value. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro for more expert analysis and insights.
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