Surgery Partners, Inc.
In the published model solve dated 2026-Q2, anchored at $15.31, Surgery Partners, Inc. (SGRY) is priced for -3.6% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
• Surgery Partners operates a network of outpatient surgical facilities riding the multi-year shift of procedures out of inpatient hospitals, with same-facility revenue up 4.4% in Q1 2026 and a network that generated about $3.1 billion in 2024. • The defining risk is leverage: net debt near $4.48 billion at more than 11 times operating income turned a healthy $102.3 million of adjusted EBITDA into a $35.9 million GAAP net loss, leaving a thin equity layer atop a large debt stack. • Watch the del
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173 institutional managers reported holding SGRY in 13F filings for the quarter ended 2026-03-31. 27 opened new positions that quarter. Held by Janus Henderson, UBS, King Street Capital, among others. On the short side, 14.3M shares were sold short as of the 2026-06-15 count, about 11% of shares outstanding (10.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SGRY's share count grew 85.3% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at SGRY over the trailing three years. Absence is a fact about the company, not a signal. 17 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SGRY's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-02 | -4.0% | -26.4% |
| 2023-11-08 | +10.3% | +20.1% |
| 2024-02-27 | -3.7% | -21.6% |
| 2024-05-08 | +6.2% | -13.6% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SGRY's latest 8-K filings: 2026-08-10 (items 2.02, 9.01); 2026-07-24 (items 1.01, 7.01, 9.01); 2026-06-05 (items 5.07); 2026-05-05 (items 2.02, 9.01); 2026-03-02 (items 2.02, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.