Surgery Partners, Inc. (SGRY)

In the past six months, Surgery Partners' stock has experienced several notable events. The stock price decreased by 33.24% over the last 12 months, with a year-to-date return of -7.18% as of April 25, 2026, but increased by 21.01% in the month leading up to April 25, 2026. On May 5, 2026, Surgery Partners announced its first-quarter 2026 results, reporting revenue of $810.9 million, a 4.5% increase from the prior year, and reaffirming its full-year 2026 guidance. Earlier, on March 2, 2026, the company announced its fourth-quarter and full-year 2025 results and set its 2026 guidance, along with a share repurchase program. In January 2025, Bain Capital Private Equity, LP, made a non-binding proposal to acquire all outstanding shares not already owned by them for $25.75 per share.

Surgery Partners experiences demand seasonality for its products and services. The company has noted "typical first-quarter seasonality" and a "seasonal lift in commercial volumes during Q4," indicating lower activity in the first quarter and increased commercial patient volumes in the fourth quarter.

Surgery Partners, Inc. is a healthcare services company operating a national network of surgical facilities and ancillary services. The company focuses on providing high-quality, cost-effective solutions for surgical and related ancillary care. It operates primarily within the Healthcare Facilities & Services sector and the Medical Care Facilities industry, with its main segment being Surgical Facility Services, which includes ambulatory surgery centers (ASCs) and surgical hospitals, as well as anesthesia services. The company's surgical facilities primarily perform non-emergency surgical procedures across various specialties. The Ancillary Services segment includes multi-specialty physician practices and a diagnostic laboratory.

Surgery Partners operates a national network with over 200 locations across 30 states in the United States. As of December 31, 2025, this network included 176 surgical facilities, comprising 157 ASCs and 19 licensed surgical hospitals. The company also has a strong presence in growing markets like Florida and Texas.

In the past year, Surgery Partners' brand reputation has faced some scrutiny related to its financial performance. Law firms investigated the company due to adjusted EBITDA falling short of management's guided projections and concerns that the company guided for margin expansion while headwinds mounted. Despite these investigations, the company continues to highlight its commitment to providing quality, compassionate, and personalized care, and its mission to enhance patient quality of life through partnership.

Surgery Partners, Inc. has a mixed ownership structure, with significant institutional and insider holdings. As of May 6, 2026, there were 186 institutional owners holding a total of 157,129,865 shares. Bain Capital Investors LLC is also listed as a major institutional owner with a substantial number of shares. Individual ownership is also notable, with insiders owning approximately 40.28% of the company's stock. Blair E. Hendrix is identified as the largest individual shareholder.