Surgical Care Affiliates Inc. (NASDAQ:SCAI)’s share price dropped 2.4% during trading on Monday . The company traded as low as $46.68 and last traded at $46.84, with a volume of 137,669 shares. The stock had previously closed at $48.00.

SCAI has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Surgical Care Affiliates from a “hold” rating to a “strong sell” rating in a research report on Friday, May 6th. Goldman Sachs Group Inc. lowered shares of 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 raised their price target on shares of Surgical Care Affiliates from $45.00 to $49.00 and gave the stock 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $47.00.

The company’s 50-day moving average is $48.99 and its 200-day moving average is $45.45. The stock has a market cap of $1.88 billion and a PE ratio of 15.22.

Surgical Care Affiliates (NASDAQ:SCAI) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.47 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.47. During the same period last year, the firm posted $0.49 earnings per share. The company earned $299.90 million during the quarter, compared to analysts’ expectations of $289.67 million. Surgical Care Affiliates’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts predict that Surgical Care Affiliates Inc. will post $1.99 earnings per share for the current year.

In related news, COO Michael A. Rucker sold 17,500 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $47.35, for a total value of $828,625.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew P. Hayek sold 13,468 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $45.04, for a total transaction of $606,598.72. The disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of the company. Foresters Investment Management Company Inc. increased its position in shares of Surgical Care Affiliates by 74.7% in the fourth quarter. Foresters Investment Management Company Inc. now owns 231,600 shares of the company’s stock worth $9,220,000 after buying an additional 99,000 shares during the period. Schroder Investment Management Group increased its position in shares of Surgical Care Affiliates by 80.3% in the fourth quarter. Schroder Investment Management Group now owns 673,900 shares of the company’s stock worth $26,828,000 after buying an additional 300,200 shares during the period. Bank of Montreal Can increased its position in shares of Surgical Care Affiliates by 564.7% in the fourth quarter. Bank of Montreal Can now owns 57,221 shares of the company’s stock worth $2,278,000 after buying an additional 48,613 shares during the period. New York State Common Retirement Fund increased its position in shares of Surgical Care Affiliates by 20.5% in the fourth quarter. New York State Common Retirement Fund now owns 115,953 shares of the company’s stock worth $4,616,000 after buying an additional 19,734 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Surgical Care Affiliates by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 39,845 shares of the company’s stock worth $1,586,000 after buying an additional 642 shares during the period.

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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