SURGERY PARTNERS INC (SGRY)
Health Care · Outpatient surgical services and ambulatory surgery centers · NASDAQ
Surgery Partners owns and operates a national network of over 200 ambulatory surgery centers, surgical hospitals, and physician practices focused on delivering cost-effective outpatient surgical care.
What SURGERY PARTNERS INC does
Surgery Partners is a healthcare services company that owns and operates a national network of surgical facilities and ancillary services across the United States. The company operates through its Surgical Facilities segment, which includes 176 surgical facilities (157 ambulatory surgery centers and 19 surgical hospitals) and multi-specialty physician practices in 30 states. The company provides a full range of financial, marketing, and operating services to its facilities, performing non-emergency surgical procedures across specialties including orthopedics, pain management, ophthalmology, gastroenterology, and general surgery.
Themes: Outpatient surgical care delivery, Ambulatory surgery centers, Physician partnership model, Healthcare cost efficiency, Multi-specialty surgical services
Fundamentals
- Price$14.52 as of 2026-08-21 close
- Market cap$1.9B as of 2026-08-21
- 1-year return-36.5% 2025-08-21 close $22.86 → 2026-08-21 close $14.52
- P/En/a negative earnings
- Net margin-2.7% as of 2026-08-24
- Gross margin+24.9% as of 2026-08-24
- ROE-5.3% as of 2026-08-24
- Debt / equity2.25 as of 2026-08-24
- Revenue growth (YoY)-21.4% as of 2026-08-24
- Revenue CAGR (3y)+59.1% SEC XBRL
- Beta1.93 as of 2026-08-24
- Last reported earnings2026-08-10 SEC EDGAR Form 8-K (Item 2.02)
How SGRY compares in its sector
- net profit marginmiddle range 504 covered Health Care peers, as of 2026-08-24
- operating margintop 25% 504 covered Health Care peers, as of 2026-08-24
- gross marginbottom 25% 384 covered Health Care peers, as of 2026-08-24
- return on equitymiddle range 576 covered Health Care peers, as of 2026-08-24
- 3-year revenue CAGRtop 25% 402 covered Health Care peers
- free cash flow (absolute dollars, latest fiscal year)top 25% 493 covered Health Care peers, as of FY2025
Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
How SURGERY PARTNERS INC looks technically
SURGERY PARTNERS INC (SGRY) is trading 3.4% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed above its 200-day average about 9 trading days ago — a "golden cross", a bullish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 13, below the 25 that marks a real trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 45, neither overbought (above 70) nor oversold (below 30). It made a new 20-day low about 3 trading days ago. It is 39.8% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 3.4% below its 200-day average, the long-term trend line — a long-term downtrend | -3.4% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $15.54 | $15.54 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $15.03 | $15.03 |
| Swing structure | each recent peak has been higher than the one before it and each dip has been shallower — the pattern chart-watchers call an uptrend, which describes where price has already been and not where it goes next | higher highs and higher lows |
| Last swing turn | its last significant turn was a swing high 11 calendar days ago — the swings before that are what the structure reading is measured on | 11 sessions |
| Wave structure | its recent swings can be read as a completed three-part upward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes above 16.46. It is the only labelling that fits, and it describes the swings already printed, not what comes next. | possible three-wave upward correction, complete |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 9 trading days ago — a "golden cross", a bullish long-term signal | 9 sessions |
| Trend strength (14-day ADX) | there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 13, below the 25 that marks a real trend) | 13.2 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 45, neither overbought (above 70) nor oversold (below 30) | 45.2 |
|---|---|---|
| Position in its 14-day range | it is trading in the lower half of its 14-day range ($13.52 to $16.46) — its "stochastic" reading is 34 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 34.0 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in negative territory (momentum leaning bearish) | 30 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $24.10 | $24.10 |
|---|---|---|
| From the 52-week high | it is 39.8% below its 52-week high (its highest price of the past year) | -39.8% |
| Above the 52-week low | it is 27.3% above its 52-week low (its lowest price of the past year) | +27.3% |
| Below the 52-week high | it is 39.8% below its highest point of the past year | 39.8% |
| Since a 20-day breakout | it made a new 20-day low about 3 trading days ago | 3 sessions |
| Since a 55-day breakout | it made a new 55-day high about 36 trading days ago | 36 sessions |
| All-time high | its highest closing price on record is $69.58 (set on 2021-06-25) | $69.58 |
| Given back of the 52-week move | over the past year its closes ranged ($11.49 to $23.84), and it has recovered roughly a quarter of its fall from last year’s high — 25% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $19.12 to $19.52. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 24.5% |
| From the all-time high | it is 79.1% below its all-time high | -79.1% |
| Nearest price level | it is trading 0.9% below a resistance level at $14.64 — a price it turned at twice since 2026-05-15, most recently on 2026-07-14. Since 2024-08-21 it has 2 such levels below the current price and 12 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +0.9% |
| All-time low | its lowest closing price on record is $4.00 (set on 2020-03-18) | $4.00 |
| Above the all-time low | it is 263.0% above its all-time low | +263.0% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are about average versus its own recent 6-month history | 49th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.8186 between its high and its low — about 5.6% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.8186 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $13.73 and $16.58 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $13.73 – $15.15 – $16.58 |
| Typical daily range (% of price) | its price moves about 5.6% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 5.6% |
| Stretch from the 200-day average | it is trading 0.6 daily ranges below its 200-day average price (3.4% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 0.6 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 2.00× |
|---|
Analyst
2
| Change in the average price target | analysts have raised their average price target by 0.5% since the prior reading | +0.5% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
2
| Since a doji | 1 session ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 1 session ago |
|---|---|---|
| Since a hammer | 9 sessions ago, after a stretch of decline, it sold off hard during the session and then closed back near its high — a "hammer", the long lower wick showing the drop was bought back before the close | 9 sessions ago |
Price gaps
2
| Gap at the open | it opened on 2026-08-21 1.2% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | +1.1% |
|---|---|---|
| Gap filled | a 2.9% gap up opened on 2026-08-20 has been "filled" 1 session ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 1 session ago |
Price streaks
1
| Closing streak | it has closed higher 2 sessions in a row, a +6.76% move over the run — an unbroken run of up days, which describes what has already happened and says nothing about the next session | 2 sessions up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 13.3 percentage points (the stock lost 10.9% while the market gained 2.3%) | -13.3% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 6.2 percentage points (the stock gained 9.3% while the market gained 3.1%) | +6.2% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 17.6 percentage points (the stock lost 6.6% while the market gained 11.1%) | -17.6% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 57.0 percentage points (the stock lost 36.5% while the market gained 20.5%) | -57.0% |
Signal agreement
2
| Bullish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day — these describe past price behaviour, not a forecast | 1 of 9 |
|---|---|---|
| Bearish technical signals | 5 of the 9 technical signals we can compute for it are currently in a bearish state: trading below its 200-day average, a fresh 20-day low, MACD momentum is negative, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 5 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 4.9% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-16 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is moderate, spanning 3.5% of the share price. | -4.9% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 1% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $14.61 — a volume-weighted average of daily closes over 158 sessions, not a true tick-by-tick VWAP. | -0.6% |
|---|---|---|
| Vs the average paid since it last reported | the price is 1% below the average price paid since it last reported on 2026-08-10 (its 10-Q), so the typical buyer over that stretch is under water. That average is $14.70 — a volume-weighted average of daily closes over 10 sessions, not a true tick-by-tick VWAP. | -1.3% |
Price levels it has turned at before
SGRY last closed at $14.52 on 2026-08-21. Since 2024-08-21 it has turned at 2 prices below its last close and 12 above; the 2 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $14.64 | Resistance | 0.9% above the last close | turned there twice · 2026-05-15 to 2026-07-14 |
| $15.11 | Resistance | 4.1% above the last close | turned there 8 times · 2025-11-18 to 2026-07-23 |
| $13.46 | Support | 7.3% below the last close | turned there twice · 2026-04-30 to 2026-05-12 |
| $13.11 | Support | 9.7% below the last close | turned there twice · 2026-02-09 to 2026-05-28 |
| $16.00 | Resistance | 10.2% above the last close | turned there twice · 2026-02-13 to 2026-03-02 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a three-part upward correction — the A-B-C shape chartists use for a pullback — now complete.
This labelling fails — stops being a possible reading at all — if it closes above $16.46.
It is the only labelling that fits these swings, though its proportions are not the textbook ones.
This reading has stood for 4 trading days, since 2026-08-18.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Recent golden cross (50-day crossed above 200-day) · Pulled back from the 12-month high · Broke down to a new 20-day low · trendless / choppy (low ADX) · lagging the market | Learn: moving average · golden cross · adx · rsi · breakout · fifty two week high low
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingBuy (1.58 mean, 1=Strong Buy…5=Strong Sell) — 11 analysts
- Mean price target$18.73 range $14.00 – $24.00; median $19.00
Analyst estimates, as of 2026-08-24. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for SGRY
- Consensus EPS estimate$0.1295 next reporting period, as of 2026-08-24
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Significant revenue decline of -20.51% year-over-year with persistent unprofitability (net margin -2.21%), indicating operational and market challenges","High debt burden with $3.6 billion in long-term debt and substantial interest expense ($69.1 million in Q1 2026) limiting financial flexibility","Dependence on payor contracts and reimbursement rates; regulatory changes to Medicare and commercial insurance reimbursement could materially impact margins"]
What changed in the latest 10-Q
AI-assisted comparison of SGRY's 10-Q filed 2026-05-05 against the prior one filed 2025-11-10.
Management's Discussion & Analysis (MD&A)
- Added:
- Reference to '2025 Annual Report on Form 10-K' in the introductory section (newer filing, filed 2026-05-05)
- Removed:
- Reference to '2024 Annual Report on Form 10-K' in the introductory section (older filing, filed 2025-11-10)
- Risk factor regarding 'federal government shutdowns and uncertainty regarding the federal government's debt limit or changes in fiscal, trade, monetary or regulatory policy' (older filing, filed 2025-11-10)
- Entire 'Recent Legislation' subsection discussing the One Big Beautiful Bill Act (OBBBA) passed July 4, 2025, and its effects on Medicaid, Medicare, ACA, and tax provisions (older filing, filed 2025-11-10)
- Reworded:
- Portfolio size changed from '165 surgical facilities comprised of 146 ASCs and 19 surgical hospitals' (as of September 30, 2025) to '180 surgical facilities comprised of 161 ASCs and 19 surgical hospitals' (as of March 31, 2026)
- Majority interest ownership changed from '81 of the surgical facilities' to '89 of the surgical facilities'
- Consolidated facilities changed from '114 of these facilities' to '122 of these facilities'
- Total revenues comparison changed from third quarter 2025 ($821.5 million) vs. third quarter 2024 ($770.4 million) to first quarter 2026 ($810.9 million) vs. first quarter 2025 ($776.0 million)
- Revenue growth rate changed from '6.6%' to '4.5%'
- Days adjusted same-facility revenue growth changed from '6.3%' to '4.4%'
- Revenue per case growth changed from '2.8%' to '3.8%'
- Same-facility cases growth changed from '3.4%' to '0.6%'
- Net loss changed from '$22.7 million' (Q3 2025) vs. '$31.7 million' (Q3 2024) to '$35.9 million' (Q1 2026) vs. '$37.7 million' (Q1 2025)
- Adjusted EBITDA changed from 'increased 6.1% to $136.4 million compared to $128.6 million' (Q3 2025 vs. Q3 2024) to 'decreased 1.5% to $102.3 million compared to $103.9 million' (Q1 2026 vs. Q1 2025)
- Acquisition activity changed from 'four surgical facilities and five physician practice for aggregate cash consideration of $52.6 million' to 'one surgical facility for aggregate cash consideration of $4.2 million'
- Cash and cash equivalents changed from '$203.4 million' to '$182.3 million'
- Borrowing capacity under Revolver changed from '$405.9 million' to '$666.1 million'
- Notes:
- The two filings cover different fiscal periods (Q3 2025 vs. Q1 2026) and different comparison years, making some numerical changes attributable to period differences rather than operational changes
- The newer filing text appears truncated at the end of the Surgical Case Mix section, limiting full comparison of that section
Risk Factors
- Reworded:
- Risk Factors section page number changed from 28 (filed 2025-11-10) to 23 (filed 2026-05-05)
- Unregistered Sales of Equity Securities and Use of Proceeds page number changed from 28 (filed 2025-11-10) to 23 (filed 2026-05-05)
- Defaults Upon Senior Securities page number changed from 28 (filed 2025-11-10) to 23 (filed 2026-05-05)
- Mine Safety Disclosures page number changed from 28 (filed 2025-11-10) to 23 (filed 2026-05-05)
- Other Information page number changed from 28 (filed 2025-11-10) to 23 (filed 2026-05-05)
- Exhibits page number changed from 29 (filed 2025-11-10) to 23 (filed 2026-05-05)
- Signatures page number changed from 30 (filed 2025-11-10) to 24 (filed 2026-05-05)
- Notes:
- Comparison covers table of contents and financial statements only; actual Risk Factors content text not provided in either filing excerpt
- Financial data presented is from different periods: March 31, 2026 vs. December 31, 2025 (newer filing) and September 30, 2025 vs. December 31, 2024 (older filing), so financial figures are not directly comparable between filings
- Page number changes likely reflect different lengths of Risk Factors sections or different document formatting between the two filings
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales recorded in the last 90 days.
- Last 180 days0 buys · 4 sells ($455592) — 4 selling insiders
Most recent open-market transaction: 2026-03-16. As of 2026-08-24.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about SGRY's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
4 institutional 13F filers reported holding SGRY as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 4
- Reported shares held 12,056,982
- Reported value $143,719,226
reported quarterly holdings change (2025-12-31 → 2026-03-31): 0 new, 2 increased, 2 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
SGRY had 13,536,368 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
SGRY had 10.3% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 8.88 days to cover at the same settlement.
- Reported short interest (shares) 13,536,368
- Short interest (% of shares outstanding) 10.3%
- Prior settlement (shares) 14,803,675
- Reported change -8.56%
- Days to cover (reported) 8.88
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Envision Healthcare (EVHC)
- Encompass Health (EHC)
- National Surgical Hospital Association members
- AmSurg (now part of Envision)
- Regent Surgical Health
- United Surgical Partners International (USPI)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare SGRY vs…
Frequently asked questions
What does SURGERY PARTNERS INC (SGRY) do?
Surgery Partners is a healthcare services company that owns and operates a national network of surgical facilities and ancillary services across the United States. The company operates through its Surgical Facilities segment, which includes 176 surgical facilities (157 ambulatory surgery centers and 19 surgical hospitals) and multi-specialty physician practices in 30 states.
What sector is SURGERY PARTNERS INC (SGRY) in?
SURGERY PARTNERS INC (SGRY) is classified in the Health Care sector. Its industry is Outpatient surgical services and ambulatory surgery centers. It trades on NASDAQ.
Who are SURGERY PARTNERS INC's (SGRY) competitors?
Notable peers of SURGERY PARTNERS INC (SGRY) include Envision Healthcare, Encompass Health, National Surgical Hospital Association members, AmSurg (now part of Envision) and Regent Surgical Health. This peer set is informational only — not financial advice.
Is SURGERY PARTNERS INC (SGRY) overbought or oversold right now?
SURGERY PARTNERS INC (SGRY) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 45, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on SGRY come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.