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BRENTWOOD, Tenn.—Bane Harrison R., the National Group President of Surgery Partners, Inc. (NASDAQ:SGRY), a $3.24 billion market cap healthcare company, recently sold a significant portion of his holdings in the company. The stock has shown strong momentum with a 21.87% gain year-to-date. According to a filing with the Securities and Exchange Commission, Harrison sold 56,315 shares of common stock on February 7, 2025, at a weighted average price of $25.64 per share, totaling approximately $1.44 million. Based on InvestingPro analysis, the stock is currently trading near its Fair Value, with analyst price targets ranging from $28 to $40.
The transaction was conducted to satisfy tax withholding obligations related to the vesting of restricted stock, as noted in the filing. Following the sale, Harrison retains direct ownership of 107,037 shares of Surgery Partners. While the company isn’t currently profitable, InvestingPro data indicates analysts expect profitability this year, with several additional insights available in the comprehensive Pro Research Report covering this healthcare provider.
In other recent news, Surgery Partners has been under the spotlight due to various significant developments. The company received a non-binding acquisition proposal from its major shareholder, Bain Capital Private Equity, offering to purchase the remaining shares for $25.75 each. However, Surgery Partners emphasized that the proposal is preliminary and not guaranteed to result in a formal bid or transaction.
Simultaneously, the company has been experiencing notable trends in its hiring strategy. Analysts from Cantor Fitzgerald maintain an Overweight rating on Surgery Partners, observing a significant reduction in Ambulatory Surgery Center nursing openings from December to January. Despite the hiring slowdown, the average signing bonus for positions increased sharply to $7,800 in January, possibly to attract and quickly fill open positions.
In addition to these developments, Surgery Partners expanded its Board of Directors with the appointment of Dr. Laura L. Forese, a seasoned healthcare executive and orthopedic surgeon. Her extensive experience in healthcare administration is expected to contribute significantly to the company’s strategic direction.
Lastly, BofA Securities upgraded Surgery Partners’ shares to a Buy rating, citing strong industry tailwinds and a relatively low valuation. They set a price target at $30.00, reflecting confidence in the company’s ability to outperform within its sector. These recent developments offer valuable insights into Surgery Partners’ ongoing strategic maneuvers and potential growth trajectory.
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