Royal Bank of Canada Boosts Select Medical (NYSE:SEM) Price Target to $40.00

Select Medical (NYSE:SEM) had its target price boosted by Royal Bank of Canada from $36.00 to $40.00 in a research report released on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the health services provider’s stock.

SEM has been the topic of several other research reports. StockNews.com raised shares of Select Medical from a hold rating to a buy rating in a research note on Friday, March 22nd. Benchmark restated a buy rating and set a $39.00 target price on shares of Select Medical in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Select Medical has a consensus rating of Moderate Buy and a consensus price target of $34.25.

Select Medical Stock Up 0.3 %

Shares of NYSE SEM opened at $32.84 on Monday. The firm has a market capitalization of $4.27 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.24 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.30. Select Medical has a 1 year low of $21.28 and a 1 year high of $33.51. The firm’s 50-day moving average is $28.71 and its 200-day moving average is $26.12.

Select Medical (NYSE:SEM) last issued its earnings results on Friday, February 23rd. The health services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. Select Medical had a net margin of 3.97% and a return on equity of 18.11%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts expect that Select Medical will post 2.03 EPS for the current year.

Select Medical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.52%. Select Medical’s dividend payout ratio (DPR) is presently 23.81%.

Insider Activity

In other news, Chairman Robert A. Ortenzio sold 50,000 shares of Select Medical stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $29.90, for a total value of $1,495,000.00. Following the sale, the chairman now directly owns 6,689,668 shares in the company, valued at $200,021,073.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.50% of the stock is owned by corporate insiders.

Institutional Trading of Select Medical

Large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Select Medical in the 3rd quarter valued at about $29,000. GAMMA Investing LLC bought a new position in shares of Select Medical during the 4th quarter worth approximately $33,000. Fidelis Capital Partners LLC acquired a new position in shares of Select Medical during the 1st quarter worth approximately $47,000. Covestor Ltd lifted its holdings in Select Medical by 74.9% during the 3rd quarter. Covestor Ltd now owns 4,292 shares of the health services provider’s stock valued at $108,000 after purchasing an additional 1,838 shares during the last quarter. Finally, CI Investments Inc. bought a new position in Select Medical during the third quarter worth $147,000. Institutional investors and hedge funds own 89.48% of the company’s stock.

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.