Surgery Partners, Inc.
In the published model solve dated 2026-Q2, anchored at $14.40, 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: 2026-09-17 (items 2.01, 9.01); 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).
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.