Jennison Associates LLC boosted its position in shares of Surgical Care Affiliates Inc. (NASDAQ:SCAI) by 156.3% during the third quarter, Holdings Channel reports. The institutional investor owned 19,466 shares of the company’s stock after buying an additional 11,872 shares during the period. Jennison Associates LLC’s holdings in Surgical Care Affiliates were worth $949,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of 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 in the last quarter. Wells Fargo & Company MN raised its stake in Surgical Care Affiliates by 79.0% in the third quarter. Wells Fargo & Company MN now owns 2,250,676 shares of the company’s stock worth $109,743,000 after buying an additional 993,464 shares in the last quarter. BlackRock Fund Advisors raised its stake in 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 stake in 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. Finally, Dimensional Fund Advisors LP raised its stake in 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.
Shares of Surgical Care Affiliates Inc. (NASDAQ:SCAI) opened at 44.62 on Friday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 80.98 and a beta of 0.54. Surgical Care Affiliates Inc. has a 52 week low of $35.15 and a 52 week high of $52.79. The company has a 50 day moving average of $43.97 and a 200-day moving average of $45.41.
Surgical Care Affiliates (NASDAQ:SCAI) last issued its earnings results on Tuesday, November 1st. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by $0.06. The business earned $322.80 million during the quarter, compared to analyst estimates of $309.11 million. Surgical Care Affiliates had a net margin of 1.88% and a return on equity of 7.00%. Surgical Care Affiliates’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. On average, equities research analysts expect that Surgical Care Affiliates Inc. will post $1.87 earnings per share for the current fiscal year.
SCAI has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Surgical Care Affiliates from a “sell” rating to a “hold” rating in a research note on Saturday, September 17th. Jefferies Group lifted their price objective on shares of Surgical Care Affiliates from $45.00 to $49.00 and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Finally, SunTrust Banks Inc. reiterated a “buy” rating on shares of Surgical Care Affiliates in a research note on Thursday, September 22nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.60.
In related news, COO Michael A. Rucker sold 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $42.56, for a total value of $744,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew P. Hayek sold 7,292 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $40.71, for a total value of $296,857.32. The disclosure for this sale can be found here. 3.30% of the stock is owned by insiders.
Surgical Care Affiliates Company Profile
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.