Surgery partners chief strategy officer sells $376,467 in shares

BRENTWOOD, Tenn.—Marissa Brittenham, the Chief Strategy Officer of Surgery Partners, Inc. (NASDAQ:SGRY), has recently sold shares in the company. According to a filing with the Securities and Exchange Commission, Brittenham sold a total of 14,700 shares of common stock at a weighted average price of $25.61 per share, amounting to approximately $376,467. The transaction comes as the stock has shown strong momentum, with a 21.87% gain year-to-date, though technical indicators suggest the stock may be in overbought territory.

The transaction, which took place on February 7, 2025, was conducted to satisfy tax withholding obligations related to the vesting of restricted stock. Following this sale, Brittenham retains ownership of 50,178 shares in the company. Analyst sentiment remains positive, with price targets ranging from $28 to $40 per share.

Surgery Partners, Inc. is a prominent player in the medical and surgical hospital services industry, headquartered in Brentwood, Tennessee. With a market capitalization of $3.24 billion, the company maintains a "GREAT" financial health score according to InvestingPro analysis, which offers comprehensive insights and additional ProTips for informed investment decisions.

In other recent news, Surgery Partners has seen a flurry of activity. The company received a proposal from Bain Capital to acquire all remaining shares at $25.75 each. This proposition is contingent upon approval from shareholders not affiliated with Bain Capital and a Special Committee of independent directors. While the offer is still in its preliminary stages, it represents a significant development for Surgery Partners.

Simultaneously, Cantor Fitzgerald maintained its Overweight rating on Surgery Partners, noting significant changes in the company’s hiring trends. These changes may signal the company’s preparation for a potential transaction with Bain Capital. The firm also highlighted a marked slowdown in physician hiring data, which stabilized in January.

In addition, Surgery Partners has expanded its Board of Directors with the appointment of Dr. Laura L. Forese, an experienced healthcare executive and orthopedic surgeon. This move increases the board’s size to eleven members and brings a wealth of healthcare administration experience to the table.

Lastly, BofA Securities upgraded its rating on Surgery Partners to Buy, setting a price target of $30.00. The upgrade is based on strong industry tailwinds and a valuation seen as an opportunity for investors. These recent developments paint a picture of a company in the midst of significant strategic maneuvers and potential growth.

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