Surgery Partners (SGRY)

• Market cap: $2.82B
• 1 day: -1.08%
• 5 days: 0.23%
• 1 month: -4.88%
• 3 months: 5.00%
• 6 months: 4.16%
• Year to date: 3.52%
• 1 year: -13.74%
• 5 years: 80.36%
• 10 years: 21.70%
• Sector: Healthcare
• Industry: Medical Care Facilities

About: Surgery Partners Inc is a healthcare services company with an integrated outpatient delivery model focused on providing quality, cost-effective solutions for surgical and related ancillary care in support of both patients and physicians. It has one reportable segment: Surgical Facilities which includes the operation of ASCs, surgical hospitals, anesthesia services, and multi-specialty physician practices, which earns revenues from contracts with patients in which the performance obligations are to provide health care services.

Employees: 15,000

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

262% more call options, than puts

Call options by funds: $62.9M | Put options by funds: $17.4M

78% more first-time investments, than exits

New positions opened: 64 | Existing positions closed: 36

75% more funds holding in top 10

Funds holding in top 10: 4 [Q4 2024] → 7 (+3) [Q1 2025]

13% more funds holding

Funds holding: 182 [Q4 2024] → 205 (+23) [Q1 2025]

11% more capital invested

Capital invested by funds: $3B [Q4 2024] → $3.32B (+$320M) [Q1 2025]

2.02% less ownership

Funds ownership: 111.39% [Q4 2024] → 109.37% (-2.02%) [Q1 2025]

17% less repeat investments, than reductions

Existing positions increased: 52 | Existing positions reduced: 63

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $24 9% upside
• Avg. target: $30 34% upside
• High target: $35 59% upside

2 analyst ratings

• positive: 1 50%
• neutral: 1 50%
• negative: 0 0%

Barclays Andrew Mok	9% upside $24	Equal-Weight Maintained	27 May 2025
Benchmark Bill Sutherland	59% upside $35	Buy Reiterated	21 Apr 2025