Insider transaction details
David T. Doherty, chief financial officer of Surgery Partners, Inc. (NASDAQ: SGRY), sold 14,574 shares of the company on March 6, 2026, at a price of $13.84 per share. The disposition generated proceeds of $201,704, according to a Form 4 filed with the Securities and Exchange Commission. The filing states the shares were sold to satisfy tax withholding obligations associated with the vesting of restricted stock.
After the March 6 sale, Doherty is reported to directly own 88,803 shares of Surgery Partners common stock.
Related restricted awards
The Form 4 filing also notes a separate grant on March 5, 2026. On that date, Doherty received a total of 141,743 shares of common stock at a reported price of $14.11, with a stated aggregate value of $1,999,993. Those shares represent restricted stock awards and are scheduled to vest over one-, two- and three-year periods.
Share price context
At the time of the filing, Surgery Partners shares were trading near a 52-week low of $12.25. The stock had fallen 16% over the prior week to a quoted price of $13.31.
Company financials and analyst outlook
Over the last twelve months, Surgery Partners reported a loss of $0.61 per share. Analyst estimates compiled in the report project that the company will return to profitability this year, with expected earnings of $0.62 per share. An InvestingPro analysis cited in the filing indicates the stock is currently undervalued and directs readers to further detail in the Pro Research Report.
Operational and market developments
On the operational front, Surgery Partners recently completed an acquisition of Preferred Vascular Group, a provider focused on dialysis access procedures. The transaction includes eight centers located in Georgia and Ohio and expands the companys presence in the ambulatory surgical center market related to outpatient dialysis care.
Brokerage revisions
Several investment firms have reduced their price targets for Surgery Partners while preserving positive recommendations. RBC Capital, TD Cowen, Jefferies and Benchmark all lowered targets. RBC Capital and Benchmark cited softer-than-expected guidance for 2026 as a factor. TD Cowen pointed to a roughly 6% shortfall in adjusted EBITDA-NCI results, attributing the gap to a negative insurance mix and market-specific issues. Jefferies referenced an earnings reset and a leveraged balance sheet in explaining its adjustment. Despite these revisions, each of the firms maintained an Outperform or Buy rating on the stock.
What the filings and changes indicate
The Form 4 filing makes clear the CFOs sale was executed to cover tax liabilities tied to newly vested restricted awards. The combination of management equity activity, recent M&A to broaden outpatient dialysis capabilities, and analyst target adjustments paints a picture of a company navigating near-term financial and operational headwinds while receiving continued positive endorsements from several brokerages.
Where available, figures and descriptions above reflect the amounts and explanations contained in the SEC filing and the analysts statements cited in the filing.