Surgical Care Affiliates Inc. (NASDAQ:SCAI) Receives Consensus Rating of “Hold” from Brokerages
Shares of Surgical Care Affiliates Inc. (NASDAQ:SCAI) have received an average rating of “Hold” from the seven analysts that are presently covering the company. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $48.50.
SCAI has been the topic of a number of recent research reports. Zacks Investment Research cut Surgical Care Affiliates from a “hold” rating to a “sell” rating in a research report on Friday, September 9th. Goldman Sachs Group Inc. cut Surgical Care Affiliates from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research report on Wednesday, June 22nd. They noted that the move was a valuation call. Jefferies Group upped their price target on Surgical Care Affiliates from $45.00 to $49.00 and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Finally, Barclays PLC reaffirmed a “buy” rating on shares of Surgical Care Affiliates in a research report on Saturday, July 9th.
Shares of Surgical Care Affiliates (NASDAQ:SCAI) traded down 2.57% during mid-day trading on Tuesday, hitting $40.51. The stock had a trading volume of 141,477 shares. Surgical Care Affiliates has a 12 month low of $27.88 and a 12 month high of $52.79. The firm has a 50 day moving average price of $43.98 and a 200-day moving average price of $45.79. The stock has a market cap of $1.63 billion, a P/E ratio of 13.16 and a beta of 0.48.
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Surgical Care Affiliates (NASDAQ:SCAI) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Surgical Care Affiliates had a return on equity of 8.18% and a net margin of 11.20%. The firm had revenue of $299.90 million for the quarter, compared to analysts’ expectations of $289.67 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities research analysts forecast that Surgical Care Affiliates will post $1.97 EPS for the current year.
In related news, COO Michael A. Rucker sold 17,500 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $47.35, for a total transaction of $828,625.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew P. Hayek sold 12,240 shares of the business’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $49.52, for a total value of $606,124.80. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SCAI. Vanguard Group Inc. raised its stake in Surgical Care Affiliates by 4.5% in the second quarter. Vanguard Group Inc. now owns 2,277,166 shares of the company’s stock worth $108,553,000 after buying an additional 98,094 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Surgical Care Affiliates by 9.9% in the second quarter. BlackRock Fund Advisors now owns 1,830,084 shares of the company’s stock worth $87,240,000 after buying an additional 165,012 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Surgical Care Affiliates by 10.7% in the second quarter. Neuberger Berman Group LLC now owns 1,000,175 shares of the company’s stock worth $47,678,000 after buying an additional 96,600 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Surgical Care Affiliates by 16.4% in the second quarter. Dimensional Fund Advisors LP now owns 881,142 shares of the company’s stock worth $42,004,000 after buying an additional 124,467 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Surgical Care Affiliates by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 677,153 shares of the company’s stock worth $32,280,000 after buying an additional 5,021 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.
About Surgical Care Affiliates
Surgical Care Affiliates, Inc (Surgical Care Affiliates) is a provider of solutions to physicians and health systems. The Company operates a network of outpatient surgery facilities in the United States, which consists of over 190 ambulatory surgery centers (ASCs) and approximately seven surgical hospitals.
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