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BRENTWOOD, Tenn.—David T. Doherty, the Chief Financial Officer of Surgery Partners, Inc. (NASDAQ:SGRY), has recently sold a portion of his holdings in the company. According to a filing submitted to the Securities and Exchange Commission, Doherty disposed of 13,641 shares of common stock on February 7, 2025, at an average price of $25.61 per share. This transaction amounted to a total value of approximately $349,346. The sale comes as the $3.24 billion market cap company shows strong momentum, with shares up nearly 22% year-to-date. InvestingPro data indicates the stock is currently overbought, with two additional key insights available to subscribers.
Following the sale, Doherty retains ownership of 108,862 shares in the company. The shares were sold to satisfy tax withholding obligations related to the vesting of restricted stock on January 31 and February 1, 2025, as noted in the filing. According to InvestingPro analysis, the company maintains a "GREAT" financial health score, with analysts setting price targets ranging from $28 to $40. Investors can access Surgery Partners’ comprehensive Pro Research Report, part of InvestingPro’s coverage of over 1,400 US stocks, ahead of their next earnings release on March 3, 2025.
In other recent news, Surgery Partners has been in the spotlight due to several significant developments. The company recently received an acquisition proposal from its major shareholder, Bain Capital Private Equity, offering to purchase the remaining shares for $25.75 each in cash. This non-binding proposal is contingent upon approval from the majority of shareholders not affiliated with Bain Capital, as well as a Special Committee of independent directors.
In addition, Cantor Fitzgerald reaffirmed its Overweight rating on Surgery Partners, observing notable trends in the healthcare staffing sector. The analysts detected a significant reduction in Ambulatory Surgery Center (ASC) nursing openings from December to January, the largest decline recorded within their tracking period. This, along with a marked slowdown in physician hiring, suggests that Surgery Partners may be preparing for a potential transaction with Bain Capital.
On the personnel front, Surgery Partners expanded its Board of Directors with the addition of Dr. Laura L. Forese, an experienced healthcare executive and orthopedic surgeon. Dr. Forese brings over four decades of healthcare administration experience to the Surgery Partners board, which is expected to be beneficial for the company’s focus on short-stay surgical case growth.
Finally, BofA Securities initiated coverage on Surgery Partners with a Buy rating and set a price target at $30.00. The firm cites strong tailwinds in the industry and the stock’s relatively low valuation as reasons for the positive outlook. These recent developments provide an interesting perspective on Surgery Partners’ strategic maneuvers and potential opportunities in the healthcare sector.
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