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Should You Invest in Surgery Partners (SGRY)?

Soumya Eswaran
·2-min read

Baron Funds, an investment management company, released its “Baron Health Care Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. The fund advanced 8.92% (Institutional Shares) in the quarter compared to an 8.52% gain for the Russell 3000 Health Care Index (benchmark) and a 10.56% increase for the S&P 500 Index. The fund rose 13.61% on an annualized basis since its inception on April 30, 2018, compared to an 11.45% gain for the benchmark and a 14.24% gain for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Baron Health Care Fund featured stocks like Surgery Partners, Inc. (NASDAQ:SGRY) in the first quarter 2024 investor letter. Headquartered in Brentwood, Tennessee, Surgery Partners, Inc. (NASDAQ:SGRY) owns and operates a network of surgical facilities and ancillary services. On April 23, 2024, Surgery Partners, Inc. (NASDAQ:SGRY) stock closed at $25.38 per share. One-month return of Surgery Partners, Inc. (NASDAQ:SGRY) was -15.23%, and its shares lost 35.80% of their value over the last 52 weeks. Surgery Partners, Inc. (NASDAQ:SGRY) has a market capitalization of $3.213 billion.

Baron Health Care Fund stated the following regarding Surgery Partners, Inc. (NASDAQ:SGRY) in its first quarter 2024 investor letter:

"We also added to Surgery Partners, Inc. (NASDAQ:SGRY), a leading operator of ambulatory surgery centers, and Stryker Corporation, a large diversified medical device company. We think Surgery Partners should benefit from a multi-year trend of surgical procedures migrating from inpatient hospitals to outpatient centers. Stryker reported strong fourth quarter financial results, highlighted by 11.5% organic revenue growth, and management provided solid guidance for 2024, calling for 7.5% to 9.0% organic revenue growth and double-digit EPS growth."

A surgeon wearing gloves and a mask, performing a procedure in a well-equipped surgical facility.

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Surgery Partners, Inc. (NASDAQ:SGRY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Surgery Partners, Inc. (NASDAQ:SGRY) was held by 22 hedge fund portfolios, compared to 15 in the previous quarter, according to our database.

We discussed Surgery Partners, Inc. (NASDAQ:SGRY) in another article where we shared the list of stocks Jim Cramer says do not buy. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.