Bank of New York Mellon Corp Acquires 676,592 Shares of Select Medical Holdings Co. (NYSE:SEM)

Bank of New York Mellon Corp increased its holdings in Select Medical Holdings Co. (NYSE:SEM – Get Rating) by 46.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,131,042 shares of the health services provider’s stock after buying an additional 676,592 shares during the quarter. Bank of New York Mellon Corp’s holdings in Select Medical were worth $47,097,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. AlphaCrest Capital Management LLC bought a new stake in Select Medical in the 3rd quarter worth about $1,648,000. Ergoteles LLC boosted its position in Select Medical by 110.2% in the third quarter. Ergoteles LLC now owns 19,831 shares of the health services provider’s stock worth $438,000 after purchasing an additional 10,398 shares during the last quarter. Cipher Capital LP purchased a new position in Select Medical in the third quarter worth about $1,115,000. Envestnet Asset Management Inc. boosted its position in Select Medical by 1.4% in the third quarter. Envestnet Asset Management Inc. now owns 124,845 shares of the health services provider’s stock worth $2,759,000 after purchasing an additional 1,719 shares during the last quarter. Finally, Citizens Financial Group Inc RI purchased a new position in Select Medical in the third quarter worth about $206,000. 78.75% of the stock is currently owned by institutional investors.

Select Medical Stock Down 1.8 %

SEM stock opened at $25.01 on Friday. Select Medical Holdings Co. has a twelve month low of $18.86 and a twelve month high of $30.78. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.83. The stock has a market cap of $3.18 billion, a P/E ratio of 20.33, a PEG ratio of 0.81 and a beta of 1.40. The business’s 50-day moving average price is $27.98 and its 200-day moving average price is $25.62.

Select Medical (NYSE:SEM – Get Rating) last posted its quarterly earnings data on Friday, February 24th. The health services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.11). Select Medical had a net margin of 2.51% and a return on equity of 11.86%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities research analysts forecast that Select Medical Holdings Co. will post 2.07 EPS for the current year.

Select Medical Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, March 3rd will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, March 2nd. Select Medical’s dividend payout ratio (DPR) is presently 40.65%.

Insider Activity at Select Medical

In related news, CEO David S. Chernow sold 139,550 shares of Select Medical stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $27.30, for a total transaction of $3,809,715.00. Following the sale, the chief executive officer now owns 839,550 shares of the company’s stock, valued at approximately $22,919,715. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.96% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Credit Suisse Group raised their target price on Select Medical from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, February 27th. Benchmark reissued a “buy” rating and issued a $39.00 target price on shares of Select Medical in a research report on Monday, February 27th. Finally, TheStreet cut Select Medical from a “b” rating to a “c+” rating in a research report on Wednesday, November 16th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.75.

About Select Medical

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Select Medical Holdings Corp. engages in the provision of medical rehabilitation services. It operates through the following business segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation and Concentra. The Critical Illness Recovery Hospital segment serves patients with debilitating injuries and rehabilitation needs that cannot be adequately cared in a medically intensive environment, such as a skilled nursing facility.