Surgery Partners Inc Stock Price, News & Analysis

Surgery Partners, a leading surgical services provider, announced participation in the Jefferies Virtual Healthcare Conference. Executive Chairman Wayne DeVeydt and CFO Tom Cowhey will present on June 2, 2021, at 3:30 p.m. ET. Interested investors can access the live webcast through the Investor Relations section of their website, with replay available later. Surgery Partners operates over 180 locations across 30 states, providing high-quality outpatient surgical care. For more details, visit www.surgerypartners.com.

Surgery Partners, a leader in surgical services, will be featured at two major healthcare conferences. CEO Eric Evans and CFO Tom Cowhey will present at the Bank of America Merrill Lynch Healthcare Conference on May 11, 2021, at 9:30 a.m. ET, and at the RBC Capital Markets Global Healthcare Conference on May 18, 2021, at 9:45 a.m. ET. Interested investors can access a live webcast via the company’s Investor Relations website, with replays available afterward. With over 180 locations across 30 states, Surgery Partners continues to be a significant player in the healthcare sector.

Surgery Partners (NASDAQ:SGRY) reported a 16.2% increase in revenues to $512.4 million for Q1 2021, driven by a 17.1% rise in same-facility revenues and an 8.8% increase in case volume. Despite a net loss of $31.3 million, Adjusted EBITDA surged 57% to $72.9 million, with guidance raised to at least $320 million for 2021. The company refinanced $1.55 billion in term loans, extending maturity to 2026 and saving over $7 million annually in cash interest. Liquidity remains strong with $541.9 million in cash. The company expects revenue growth of 18% to 20% for 2021.

Surgery Partners (NASDAQ:SGRY) announced plans to refinance $119 million in incremental term loans and convert Series A preferred stock into approximately 22.609 million common shares on May 17, 2021. The company projects first quarter 2021 revenues to exceed $505 million with an adjusted EBITDA of at least $70 million, benefiting from CARES Act grants. Surgical case volumes are estimated at 125,000, with same-facility revenues expected to rise by 16-17%. The projected adjusted EBITDA for 2021 is at least $315 million.

Surgery Partners, Inc. (NASDAQ:SGRY) will release its Q1 2021 financial results on May 5, 2021, before market opening. A conference call will follow at 8:30 a.m. Eastern Time for investors to discuss the outcomes. Interested parties can join via dial-in numbers or through a webcast on the company's investor relations webpage. Surgery Partners, headquartered in Brentwood, Tennessee, operates over 180 surgical facilities across 30 states, focusing on high-quality, cost-effective outpatient care. More details are available on their website.

Surgery Partners (NASDAQ: SGRY) reported Q4 and full-year 2020 results with revenues of $548.3 million in Q4, up 6%, and a net loss of $4.8 million. Adjusted EBITDA rose 7.6% to $90.8 million. For the full year, revenues increased 1.6% to $1.9 billion, but net loss widened to $155.6 million. The company successfully recruited over 560 physicians in 2020 and closed an equity offering in February 2021, raising nearly $250 million. Looking ahead, Surgery Partners projects 2021 revenue growth of 18% to 20% and an Adjusted EBITDA of approximately $315 million.

Surgery Partners (NASDAQ:SGRY) announced the appointment of Dr. Patricia A. Maryland as an independent director, effective immediately. This addition expands the Board to nine members. Dr. Maryland brings 40 years of healthcare administration experience, most recently as executive vice president at Ascension, overseeing a vast network of hospitals and care facilities. She is recognized for her leadership in healthcare and has served on multiple boards. The company looks forward to leveraging her expertise to enhance patient care and drive growth.

Surgery Partners (NASDAQ:SGRY), a leader in outpatient surgical services, will announce its Q4 2020 results on March 10, 2021, before market opening. A conference call will follow at 8:30 a.m. ET, available for live access and replay. Interested parties can listen via the company's website, enhancing investor engagement. With over 180 locations nationwide, Surgery Partners continues to expand in the healthcare sector, emphasizing cost-effective surgical care and ancillary services.

Surgery Partners, Inc. (Nasdaq: SGRY) announced the pricing of a public offering of 7,500,000 shares of common stock at $30.25 per share, with expected gross proceeds of approximately $226.9 million. The offering includes a 30-day option for underwriters to purchase an additional 1,125,000 shares. Net proceeds will be used for general corporate purposes, including funding acquisitions and repaying debt. The offering is expected to close on February 1, 2021. J.P. Morgan Securities LLC and Jefferies LLC are the lead managers.