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BRENTWOOD, Tenn.—Jennifer Baldock, the Chief Administration and Development Officer of Surgery Partners, Inc. (NASDAQ:SGRY), sold 5,681 shares of the company’s common stock on February 7, according to a recent filing with the Securities and Exchange Commission. The shares were sold at an average price of $25.83, resulting in a total transaction value of approximately $146,740. The transaction comes as the healthcare services provider, with a market capitalization of $3.24 billion, has seen its stock surge 21.87% year-to-date.
Following the sale, Baldock retains ownership of 200,172 shares in the healthcare services provider. The transaction was conducted to satisfy tax withholding obligations related to the vesting of restricted stock on January 31, 2025. According to InvestingPro analysis, Surgery Partners’ stock currently shows volatile price movements and appears to be in overbought territory. Investors seeking deeper insights into Surgery Partners’ valuation and growth prospects can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
In other recent news, Surgery Partners has been the subject of multiple important developments. The company received a proposal from Bain Capital Private Equity, its major shareholder, to acquire 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, and a Special Committee of independent directors will evaluate the offer.
On the analyst front, Cantor Fitzgerald maintained its Overweight rating on Surgery Partners, observing a significant reduction in Ambulatory Surgery Center nursing openings, possibly signaling an upcoming transaction with Bain Capital. BofA Securities also initiated coverage on the company with a Buy rating, citing strong industry tailwinds and a relatively low valuation.
Further, Surgery Partners expanded its Board of Directors with the addition of Dr. Laura L. Forese, an experienced healthcare executive and orthopedic surgeon. Her appointment increases the board’s size to eleven members and brings over four decades of healthcare administration experience.
These recent developments highlight the dynamic landscape for Surgery Partners, from potential acquisition proposals to strategic staff adjustments and analyst ratings. It’s crucial for investors to keep an eye on these evolving circumstances to understand their potential impact on the company’s future.
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