Surgery Partners surges after agreeing to $23.50-a-share cash buyout

Surgery Partners (SGRY) is up 46.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The sharp move appears tied to Surgery Partners’ announcement that it agreed to be acquired by HealthSpan Partners in an all-cash deal. A takeover with a fixed cash price often pushes the stock quickly toward the offer value, especially when the premium is large versus the prior closing price.

Details:

Surgery Partners announced a definitive agreement under which HealthSpan Partners will acquire the company in a transaction valued at about $5.7 billion including debt.

Shareholders other than Bain Capital affiliates are set to receive $23.50 in cash per share, giving investors a clear valuation anchor for the stock.

Bain Capital affiliates are expected to roll over their shares into the acquiring entity rather than cashing out fully, signaling continued backing for the business after closing.

Market speculation had already been building after reports that a Bon Secours-linked buyer was nearing a takeover, and the formal announcement appears to have confirmed that thesis.

Sources:

Business Wire, SEC, Yahoo Finance

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$SGRY Insider Trading Activity

$SGRY insiders have traded $SGRY stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $SGRY stock by insiders over the last 6 months:

TERESA DELUCA purchased 10,000 shares for an estimated $143,500

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$SGRY Hedge Fund Activity

We have seen 102 institutional investors add shares of $SGRY stock to their portfolio, and 78 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

T. ROWE PRICE INVESTMENT MANAGEMENT, INC. added 5,900,860 shares (+38474.7%) to their portfolio in Q2 2026, for an estimated $99,134,448
KING STREET CAPITAL MANAGEMENT, L.P. removed 4,171,589 shares (-40.8%) from their portfolio in Q2 2026, for an estimated $70,082,695
GLENVIEW CAPITAL MANAGEMENT, LLC removed 1,800,000 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $30,240,000
PENTWATER CAPITAL MANAGEMENT LP added 1,630,000 shares (+16.3%) to their portfolio in Q2 2026, for an estimated $27,384,000
UBS GROUP AG removed 1,618,368 shares (-15.9%) from their portfolio in Q2 2026, for an estimated $27,188,582
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 1,081,600 shares (+inf%) to their portfolio in Q2 2026, for an estimated $18,170,880
HEIN PARK CAPITAL MANAGEMENT LP added 1,068,621 shares (+inf%) to their portfolio in Q2 2026, for an estimated $17,952,832

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.