Surgalign Holdings, Inc. (NASDAQ:SRGA) CFO David Lyle Acquires 19,000 Shares

Surgalign Holdings, Inc. (NASDAQ:SRGA – Get Rating) CFO David Lyle bought 19,000 shares of Surgalign stock in a transaction that occurred on Wednesday, May 18th. The shares were acquired at an average cost of $5.26 per share, for a total transaction of $99,940.00. Following the acquisition, the chief financial officer now owns 59,000 shares in the company, valued at approximately $310,340. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of NASDAQ:SRGA traded up $0.20 on Thursday, hitting $5.39. The company had a trading volume of 1,982 shares, compared to its average volume of 2,400,932. The firm’s 50-day simple moving average is $10.66 and its two-hundred day simple moving average is $17.25. Surgalign Holdings, Inc. has a 1 year low of $4.28 and a 1 year high of $59.40. The company has a quick ratio of 2.76, a current ratio of 3.57 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -0.32 and a beta of 2.22.

Surgalign (NASDAQ:SRGA – Get Rating) last posted its earnings results on Tuesday, March 15th. The company reported ($3.30) EPS for the quarter, hitting the consensus estimate of ($3.30). Surgalign had a negative net margin of 79.07% and a negative return on equity of 169.33%. The firm had revenue of $21.83 million during the quarter. During the same period in the prior year, the business posted ($6.60) earnings per share.

A number of hedge funds and other institutional investors have recently modified their holdings of SRGA. Two Sigma Securities LLC purchased a new position in Surgalign during the 3rd quarter valued at about $29,000. GSA Capital Partners LLP bought a new stake in Surgalign during the 3rd quarter valued at about $31,000. Eagle Asset Management Inc. bought a new stake in Surgalign during the 3rd quarter valued at about $38,000. Waypoint Capital Advisors LLC bought a new stake in Surgalign during the 1st quarter valued at about $40,000. Finally, Global Trust Asset Management LLC increased its stake in Surgalign by 49.5% during the 1st quarter. Global Trust Asset Management LLC now owns 136,000 shares of the company’s stock valued at $41,000 after purchasing an additional 45,000 shares in the last quarter. 28.35% of the stock is owned by institutional investors.

Separately, Lake Street Capital set a $30.00 price target on shares of Surgalign in a research report on Monday, February 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $58.50.

Surgalign Company Profile (Get Rating)

Surgalign Holdings, Inc, a medical technology company, develops, manufactures, distributes, and markets spine implants worldwide. It offers products for thoracolumbar procedures, including Streamline TL Spinal Fixation system, a system for degenerative and complex spine procedures; and Streamline MIS Spinal Fixation system, a range of implants and instruments used via a percutaneous or mini-open approach; and interbody fusion devices, as well as products for cervical procedures, such as CervAlign ACP system, a comprehensive anterior cervical plate system; Fortilink-C IBF system, a cervical interbody fusion device that utilizes TETRAfuse 3D technology; and Streamline OCT system, a range of implants used in the occipito-cervico-thoracic posterior spine.

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