Surgery Partners (NASDAQ:SGRY) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

05 May 2026, 11:30 by Doug Wharley · The Cerbat Gem

Surgery Partners (NASDAQ:SGRY – Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.12, FiscalAI reports. Surgery Partners had a positive return on equity of 1.28% and a negative net margin of 2.35%.The firm’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.04 EPS.

Here are the key takeaways from Surgery Partners’ conference call:

First-quarter results were broadly in line or modestly ahead of expectations with ~$811 million of net revenue, 4.4% same‑facility revenue growth and ~$102 million of adjusted EBITDA, and the company reiterated full‑year revenue and adjusted EBITDA guidance.
Organic growth drivers showed strength—total joints in ASCs grew 14.6% year‑over‑year, the platform has 73 surgical robots supporting higher‑acuity work, ~140 physicians were recruited in Q1, and de novo development remains an active, MSK‑focused growth channel.
Margins faced identifiable headwinds from reinstated incentive compensation, new provider taxes and tariff pressures (management estimates ~$8 million of combined FY pressure), plus higher interest expense (~$7 million) due to an expired interest rate swap, weighing on near‑term EBITDA.
Capital deployment was modest in Q1 (~$4 million), but the company expects ~$200 million of annual deployment when active, is pursuing portfolio optimization (in advanced talks on a larger surgical hospital market with a possible mid‑2026 announcement) and remains focused on gradual deleveraging (net leverage ~4.3x under the credit agreement).

Surgery Partners Trading Up 2.1%

Shares of Surgery Partners stock traded up $0.30 during midday trading on Tuesday, reaching $14.50. The company had a trading volume of 635,752 shares, compared to its average volume of 1,514,941. The stock has a fifty day moving average price of $13.39 and a 200 day moving average price of $15.65. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.87 and a quick ratio of 1.71. The firm has a market cap of $1.90 billion, a PE ratio of -23.36 and a beta of 1.99. Surgery Partners has a fifty-two week low of $11.41 and a fifty-two week high of $24.18.

Surgery Partners declared that its board has approved a share buyback program on Thursday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Jennifer Baldock sold 10,082 shares of Surgery Partners stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $13.70, for a total value of $138,123.40. Following the transaction, the insider directly owned 332,272 shares of the company’s stock, valued at $4,552,126.40. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David T. Doherty sold 14,574 shares of Surgery Partners stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $13.84, for a total value of $201,704.16. Following the completion of the transaction, the chief financial officer directly owned 88,803 shares in the company, valued at approximately $1,229,033.52. This represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 96,896 shares of company stock valued at $1,284,058 over the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its stake in shares of Surgery Partners by 3.8% in the fourth quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company’s stock worth $209,162,000 after acquiring an additional 501,401 shares during the period. Pentwater Capital Management LP lifted its stake in shares of Surgery Partners by 66.9% in the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock worth $252,777,000 after acquiring an additional 4,681,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Surgery Partners by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,906,580 shares of the company’s stock worth $75,808,000 after acquiring an additional 46,365 shares during the period. UBS Group AG lifted its stake in shares of Surgery Partners by 50.6% in the third quarter. UBS Group AG now owns 3,690,922 shares of the company’s stock worth $79,872,000 after acquiring an additional 1,239,549 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Surgery Partners by 528.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,959,686 shares of the company’s stock worth $30,277,000 after acquiring an additional 1,647,714 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SGRY. TD Cowen reduced their price objective on Surgery Partners from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Mizuho reduced their price objective on Surgery Partners from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Royal Bank Of Canada reduced their price objective on Surgery Partners from $31.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Zacks Research lowered Surgery Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Finally, Jefferies Financial Group set a $15.00 price objective on Surgery Partners in a research note on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Check Out Our Latest Research Report on SGRY

Surgery Partners Company Profile

(Get Free Report)

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.