Surgery Partners (NASDAQ:SGRY) Downgraded by TD Cowen to Hold

Posted by Brenda Bartman on Nov 3rd, 2026

Surgery Partners (NASDAQ:SGRY – Get Free Report) was downgraded by analysts at TD Cowen from a “strong-buy” rating to a “hold” rating in a research report issued on Saturday, Zacks reports.

Several other equities analysts have also recently issued reports on SGRY. Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their target price on Surgery Partners from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Zacks Research lowered Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Weiss Ratings upgraded Surgery Partners from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. Finally, Stonex Financia cut Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.14.

Get Our Latest Stock Analysis on SGRY

Surgery Partners Price Performance

SGRY stock opened at $23.12 on Friday. The firm has a 50 day moving average of $15.30 and a 200-day moving average of $14.68. Surgery Partners has a 12-month low of $11.41 and a 12-month high of $23.37. The company has a current ratio of 1.95, a quick ratio of 1.78 and a debt-to-equity ratio of 1.18. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -33.03, a PEG ratio of 7.19 and a beta of 1.90.

Surgery Partners (NASDAQ:SGRY – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $848.90 million for the quarter, compared to analyst estimates of $830.03 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 EPS. As a group, equities analysts expect that Surgery Partners will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, Director Teresa DeLuca bought 10,000 shares of Surgery Partners stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average price of $14.35 per share, with a total value of $143,500.00. Following the purchase, the director owned 66,843 shares in the company, valued at $959,197.05. This represents a 17.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Surgery Partners

Hedge funds have recently bought and sold shares of the stock. Jupiter Topco LLC acquired a new position in shares of Surgery Partners in the second quarter worth $233,220,000. Pentwater Capital Management LP acquired a new stake in shares of Surgery Partners during the second quarter valued at $195,384,000. BlackRock Inc. acquired a new stake in shares of Surgery Partners during the second quarter valued at $104,857,000. Hsbc Holdings PLC acquired a new stake in shares of Surgery Partners during the second quarter valued at $48,912,000. Finally, Bank of America Corp DE acquired a new stake in shares of Surgery Partners during the second quarter valued at $20,374,000.

Key Stories Impacting Surgery Partners

Here are the key news stories impacting Surgery Partners this week:

Positive Sentiment: Bon Secours Mercy Health’s proposed $23.50-per-share acquisition provides a clear valuation reference and supports the share price. Bain Capital, Surgery Partners’ largest shareholder, plans to roll its equity into the combined company, signaling substantial shareholder participation. Surgery Partners stock enters take-private focus after HealthSpan deal
Neutral Sentiment: The consensus price target was raised 15.45% to $22.61, reflecting improved valuation expectations, but the target is below the merger offer and therefore provides limited incremental support while the transaction remains pending. Surgery Partners consensus price target increased by 15.45% to $22.61
Negative Sentiment: KeyCorp reduced its FY2026 EPS forecast to $0.07 from $0.16 and cut its FY2027 forecast to a $0.21-per-share loss from expected earnings of $0.13. It also lowered its Q3 2026 estimate to a $0.13 loss, while forecasting a $0.08 loss for Q4. These revisions point to weaker near-term profitability than previously expected.
Negative Sentiment: Multiple law firms are investigating the $23.50 merger, including whether Surgery Partners’ directors breached fiduciary duties and whether the transaction adequately serves shareholders. Such investigations may increase deal uncertainty, although these notices do not by themselves indicate that wrongdoing occurred. SGRY shareholder merger investigation Scott+Scott Surgery Partners investor alert

Surgery Partners Company Profile

(Get Free Report)

Surgery Partners, Inc is a U.S.-based healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals. The company works with physicians, health systems and other healthcare providers to deliver outpatient surgical care in facilities designed for same-day procedures.

Its facilities provide surgical services across specialties such as orthopedics, pain management, ophthalmology, gastroenterology, urology, gynecology and general surgery. Surgery Partners also supports its operations with clinical, administrative and revenue-cycle services intended to help physicians and facility partners manage patient care and practice operations.

Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners has expanded its platform through acquisitions, joint ventures and other partnerships.