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Nuveen Asset Management LLC cut its position in shares of Select Medical Holdings Co. (NYSE:SEM – Free Report) by 24.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 826,387 shares of the health services provider’s stock after selling 273,762 shares during the quarter. Nuveen Asset Management LLC’s holdings in Select Medical were worth $15,577,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. LPL Financial LLC increased its position in shares of Select Medical by 2.0% during the fourth quarter. LPL Financial LLC now owns 31,441 shares of the health services provider’s stock worth $593,000 after buying an additional 619 shares during the period. Bank of Montreal Can increased its position in shares of Select Medical by 4.5% during the fourth quarter. Bank of Montreal Can now owns 20,030 shares of the health services provider’s stock worth $378,000 after buying an additional 867 shares during the period. Sippican Capital Advisors increased its position in shares of Select Medical by 7.3% during the fourth quarter. Sippican Capital Advisors now owns 13,354 shares of the health services provider’s stock worth $252,000 after buying an additional 912 shares during the period. Sterling Capital Management LLC grew its holdings in Select Medical by 9.5% in the fourth quarter. Sterling Capital Management LLC now owns 11,304 shares of the health services provider’s stock worth $213,000 after purchasing an additional 978 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its holdings in Select Medical by 2.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 56,719 shares of the health services provider’s stock worth $1,069,000 after purchasing an additional 1,234 shares during the period. 89.48% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SEM. Wall Street Zen upgraded shares of Select Medical from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Royal Bank of Canada reduced their price target on shares of Select Medical from $23.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Benchmark upgraded shares of Select Medical from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Monday, February 24th. Finally, Mizuho began coverage on shares of Select Medical in a report on Wednesday, April 16th. They issued an “outperform” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Select Medical presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.
Get Our Latest Analysis on SEM
Select Medical Stock Down 0.8%
Select Medical stock opened at $14.38 on Monday. Select Medical Holdings Co. has a 1-year low of $14.03 and a 1-year high of $40.98. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 0.64 and a beta of 1.40. The firm’s fifty day moving average price is $16.11 and its two-hundred day moving average price is $19.62. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37.
Select Medical (NYSE:SEM – Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The health services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Select Medical had a net margin of 3.23% and a return on equity of 14.04%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was down 24.4% on a year-over-year basis. On average, equities research analysts predict that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.
Select Medical Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, May 15th. Select Medical’s payout ratio is currently 18.66%.
Select Medical announced that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the health services provider to reacquire up to 42.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
Insider Activity at Select Medical
In other news, Director Parvinderjit S. Khanuja purchased 21,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average cost of $15.02 per share, with a total value of $315,420.00. Following the completion of the transaction, the director now directly owns 65,089 shares of the company’s stock, valued at approximately $977,636.78. This trade represents a 47.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David S. Chernow sold 225,000 shares of the firm’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $18.00, for a total transaction of $4,050,000.00. Following the transaction, the chief executive officer now directly owns 714,516 shares in the company, valued at $12,861,288. The trade was a 23.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.60% of the stock is owned by insiders.
About Select Medical
Select Medical Holdings Corporation, through its subsidiaries, operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. It operates in four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.
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