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Surgery Partners Jumps as Amended Buyout Offer Raises Cash Consideration

Investivoq PriceTracker

Surgery Partners (SGRY) is up 12.8% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is an amended merger agreement that raised the cash buyout price to $25.00 per share from the prior $23.50 offer. Investors also appear to be reacting to disclosure that the amendment followed an unsolicited competing proposal, which may have reinforced expectations that strategic interest in the company remains strong.

Details:

  • The company disclosed on November 9 that it amended its merger agreement with HealthSpan Partners, increasing the per-share cash consideration to $25.00 from the earlier $23.50 deal price.
  • The amended terms also include possible additional monthly ticking-fee payments if closing occurs after March 1, 2027, lifting potential total value to as much as $26.61 per share for eligible holders.
  • The amendment came after Surgery Partners received an unsolicited non-binding proposal from a third party that was updated to $28.00 per share in cash.
  • The board said it still favors the revised HealthSpan transaction because it viewed that path as offering better closing certainty and lower regulatory complexity, with closing still expected in the first quarter of 2027.

    • Sources:

    SEC, SEC, SEC ([sec.gov](https://www.sec.gov/Archives/edgar/data/1638833/000110465926124236/tm2629312d1_ex99-1.htm))

    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 Insider Trades

    $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 Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

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    $SGRY Hedge Fund Activity

    We have seen 97 institutional investors add shares of $SGRY stock to their portfolio, and 89 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 Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

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