Analysis of Surgery Partners Options Trading
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 03 2026
0mins
Should l Buy SGRY?
Source: NASDAQ.COM
- Options Selling Risks: Selling puts on Surgery Partners does not provide the same upside potential as owning shares, as the seller only acquires shares if the contract is exercised, and if the stock does not fall to $7.50, the only benefit is a 48.7% annualized return from the premium.
- Cost Basis Analysis: If Surgery Partners' shares decline by 41.4% and the contract is exercised, the seller's cost basis would be $7.05 per share after commissions, indicating that actual returns are influenced by market prices, highlighting the complexity of options trading.
- Historical Volatility Reference: With a trailing twelve-month volatility of 52% calculated from the last 251 trading days, this metric provides crucial insight for investors assessing the risk-reward profile of selling puts at the $7.50 strike price.
- Market Sentiment Indicator: During mid-afternoon trading on Tuesday, the put volume among S&P 500 components reached 1.01 million contracts, matching call volume, indicating a higher demand for puts than the long-term median ratio of 0.65, reflecting investor concerns about downside risks in the market.
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Analyst Views on SGRY
Wall Street analysts forecast SGRY stock price to rise
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 13.300
Low
18.00
Averages
26.30
High
36.00
Current: 13.300
Low
18.00
Averages
26.30
High
36.00
About SGRY
Surgery Partners, Inc. is a healthcare services company. The Company, through its subsidiaries, owns and operates a national network of surgical facilities and ancillary services. The Company operates through the Surgical Facility Services segment, which includes the operation of ambulatory surgery centers (ASCs), surgical hospitals, anesthesia services, urgent care facilities and multi-specialty physician practices. Its surgical facilities primarily provide non-emergency surgical procedures across many specialties, including, among others, orthopedics and pain management, ophthalmology, gastroenterology (GI) and general surgery. The Company operates a portfolio of 162 surgical facilities comprised of 143 ASCs and 19 surgical hospitals. The Company is focused on surgical services businesses in the United States, with over 250 locations in 30 states, including short-stay surgical hospitals.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Activist Investor Calls for Surgery Partners to Sell Hospitals
- Asset Sale Proposal: Activist investor Ortelius Advisors is urging Surgery Partners to divest all of its surgical hospitals, which is expected to generate billions in asset sales, thereby providing the capital necessary for stock buybacks, debt reduction, and improved creditworthiness.
- Management Overhaul: Ortelius is also calling for a refresh of Surgery Partners' board and the installation of a new management team, aiming to enhance corporate governance and strengthen market competitiveness through a strategic review.
- Financial Outlook Improvement: Ortelius highlighted that after the sale of hospitals, the remaining entity would focus on ambulatory surgery centers, which are projected to exhibit stronger revenue growth, higher EBITDA margins, and larger free cash flow yields, thus warranting an expanded enterprise value to EBITDA multiple.
- Market Reaction: Although Surgery Partners has not yet responded to these proposals, the company is set to present at the Barclays 28th Annual Global Healthcare Conference, which may draw investor attention to its future strategic direction.
See More
Surgery Partners Faces Value Destruction and Accountability Demands
- Shareholder Value Loss: Over the past five years, Surgery Partners' stock price has plummeted by 67%, lagging benchmarks by 108 percentage points, indicating severe underperformance and a significant decline in shareholder confidence.
- Peer Comparison Deficit: Compared to HCA Healthcare and Tenet Healthcare, Surgery Partners has underperformed by 276 and 413 percentage points in total shareholder returns, highlighting a critical need for strategic measures to regain competitive standing in the industry.
- Asset Divestiture Potential: Ortelius suggests that divesting all surgical hospitals could generate billions in asset sales, providing the necessary capital for stock repurchases and debt reduction, thereby improving the company's financial health and creditworthiness.
- Need for Management Change: Ortelius calls for substantial changes in the board and management team to address serious governance and execution failures, aiming to restore shareholder trust in the company's leadership.
See More
Surgery Partners to Present at Barclays Healthcare Conference
- Investor Meeting Schedule: Surgery Partners is set to present at the Barclays 28th Annual Global Healthcare Conference on March 10, 2026, at 2:30 p.m. Eastern Time, which is expected to attract significant investor interest.
- Webcast Availability: The event will be available via a simultaneous webcast through the company's investor relations section, allowing investors to access the replay for a limited time post-event, ensuring broad dissemination and transparency of information.
- Company Background: Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners is one of the largest surgical services companies in the U.S., operating over 200 locations across 30 states, focusing on high-quality, cost-effective surgical and ancillary care solutions.
- Business Model Advantage: The company employs a differentiated outpatient delivery model aimed at meeting the needs of both patients and physicians, significantly enhancing its market position and growth potential amid rising demand for healthcare services.
See More
SURGERY PARTNERS INC: UBS LOWERS TARGET PRICE FROM $29 TO $21
Surgery Partners Inc. Update: The company has announced a significant reduction in its target price.
New Target Price: The target price has been lowered from $29 to $21.
See More
Royal Caribbean Group Sees Surge in Options Trading Volume
- Surge in Options Volume: Royal Caribbean Group (RCL) recorded an options trading volume of 31,614 contracts today, equivalent to approximately 3.2 million shares, which is 134.7% of its average daily trading volume over the past month, indicating strong market interest in the stock.
- High Demand Options: Notably, the $350 strike call option expiring on April 17, 2026, saw 8,036 contracts traded today, representing about 803,600 underlying shares of RCL, suggesting investor expectations for future price increases.
- Surgery Partners Options Activity: Concurrently, Surgery Partners Inc (SGRY) experienced an options trading volume of 20,059 contracts today, equivalent to approximately 2.0 million shares, which is 97.5% of its average daily trading volume over the past month, highlighting the stock's market activity.
- Put Option Demand: Specifically, the $15 strike put option expiring on June 18, 2026, recorded a trading volume of 10,000 contracts today, representing around 1.0 million underlying shares of SGRY, reflecting investor concerns about potential declines in the stock's future performance.
See More
Surgery Partners Under Investigation for Potential Investor Claims
- Disappointing Financial Results: Surgery Partners reported approximately $3.3 billion in revenue and $526.2 million in Adjusted EBITDA for 2025, failing to meet expectations, which led to a sharp decline in stock price and investor confidence.
- Legal Investigation Initiated: Johnson Fistel, PLLP is investigating whether Surgery Partners' executives violated federal securities laws, potentially leading to claims for investor losses, highlighting concerns over corporate governance and transparency.
- Investor Loss Alert: Investors who suffered losses from Surgery Partners stock are encouraged by Johnson Fistel to join the investigation, indicating the law firm's commitment to protecting investor rights and pursuing compensation.
- Law Firm Background: Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm, ranked among the Top 10 Plaintiff Law Firms in 2024, having recovered approximately $90.725 million for clients, showcasing its strength in securities litigation.
See More
Activist Investor Calls for Surgery Partners to Sell Hospitals
- Asset Sale Proposal: Activist investor Ortelius Advisors is urging Surgery Partners to divest all of its surgical hospitals, which is expected to generate billions in asset sales, thereby providing the capital necessary for stock buybacks, debt reduction, and improved creditworthiness.
- Management Overhaul: Ortelius is also calling for a refresh of Surgery Partners' board and the installation of a new management team, aiming to enhance corporate governance and strengthen market competitiveness through a strategic review.
- Financial Outlook Improvement: Ortelius highlighted that after the sale of hospitals, the remaining entity would focus on ambulatory surgery centers, which are projected to exhibit stronger revenue growth, higher EBITDA margins, and larger free cash flow yields, thus warranting an expanded enterprise value to EBITDA multiple.
- Market Reaction: Although Surgery Partners has not yet responded to these proposals, the company is set to present at the Barclays 28th Annual Global Healthcare Conference, which may draw investor attention to its future strategic direction.
See More
Surgery Partners Faces Value Destruction and Accountability Demands
- Shareholder Value Loss: Over the past five years, Surgery Partners' stock price has plummeted by 67%, lagging benchmarks by 108 percentage points, indicating severe underperformance and a significant decline in shareholder confidence.
- Peer Comparison Deficit: Compared to HCA Healthcare and Tenet Healthcare, Surgery Partners has underperformed by 276 and 413 percentage points in total shareholder returns, highlighting a critical need for strategic measures to regain competitive standing in the industry.
- Asset Divestiture Potential: Ortelius suggests that divesting all surgical hospitals could generate billions in asset sales, providing the necessary capital for stock repurchases and debt reduction, thereby improving the company's financial health and creditworthiness.
- Need for Management Change: Ortelius calls for substantial changes in the board and management team to address serious governance and execution failures, aiming to restore shareholder trust in the company's leadership.
See More
Surgery Partners to Present at Barclays Healthcare Conference
- Investor Meeting Schedule: Surgery Partners is set to present at the Barclays 28th Annual Global Healthcare Conference on March 10, 2026, at 2:30 p.m. Eastern Time, which is expected to attract significant investor interest.
- Webcast Availability: The event will be available via a simultaneous webcast through the company's investor relations section, allowing investors to access the replay for a limited time post-event, ensuring broad dissemination and transparency of information.
- Company Background: Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners is one of the largest surgical services companies in the U.S., operating over 200 locations across 30 states, focusing on high-quality, cost-effective surgical and ancillary care solutions.
- Business Model Advantage: The company employs a differentiated outpatient delivery model aimed at meeting the needs of both patients and physicians, significantly enhancing its market position and growth potential amid rising demand for healthcare services.
See More
SURGERY PARTNERS INC: UBS LOWERS TARGET PRICE FROM $29 TO $21
Surgery Partners Inc. Update: The company has announced a significant reduction in its target price.
New Target Price: The target price has been lowered from $29 to $21.
See More
Royal Caribbean Group Sees Surge in Options Trading Volume
- Surge in Options Volume: Royal Caribbean Group (RCL) recorded an options trading volume of 31,614 contracts today, equivalent to approximately 3.2 million shares, which is 134.7% of its average daily trading volume over the past month, indicating strong market interest in the stock.
- High Demand Options: Notably, the $350 strike call option expiring on April 17, 2026, saw 8,036 contracts traded today, representing about 803,600 underlying shares of RCL, suggesting investor expectations for future price increases.
- Surgery Partners Options Activity: Concurrently, Surgery Partners Inc (SGRY) experienced an options trading volume of 20,059 contracts today, equivalent to approximately 2.0 million shares, which is 97.5% of its average daily trading volume over the past month, highlighting the stock's market activity.
- Put Option Demand: Specifically, the $15 strike put option expiring on June 18, 2026, recorded a trading volume of 10,000 contracts today, representing around 1.0 million underlying shares of SGRY, reflecting investor concerns about potential declines in the stock's future performance.
See More
Surgery Partners Under Investigation for Potential Investor Claims
- Disappointing Financial Results: Surgery Partners reported approximately $3.3 billion in revenue and $526.2 million in Adjusted EBITDA for 2025, failing to meet expectations, which led to a sharp decline in stock price and investor confidence.
- Legal Investigation Initiated: Johnson Fistel, PLLP is investigating whether Surgery Partners' executives violated federal securities laws, potentially leading to claims for investor losses, highlighting concerns over corporate governance and transparency.
- Investor Loss Alert: Investors who suffered losses from Surgery Partners stock are encouraged by Johnson Fistel to join the investigation, indicating the law firm's commitment to protecting investor rights and pursuing compensation.
- Law Firm Background: Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm, ranked among the Top 10 Plaintiff Law Firms in 2024, having recovered approximately $90.725 million for clients, showcasing its strength in securities litigation.
See More
