Norges Bank Makes New $29.56 Million Investment in Select Medical Holdings Co. (NYSE:SEM)

Norges Bank bought a new stake in Select Medical Holdings Co. (NYSE:SEM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,567,964 shares of the health services provider’s stock, valued at approximately $29,556,000.

A number of other large investors have also recently made changes to their positions in SEM. Quarry LP acquired a new stake in shares of Select Medical in the third quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised its holdings in shares of Select Medical by 179.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,296 shares of the health services provider’s stock valued at $43,000 after buying an additional 1,473 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Select Medical during the third quarter worth about $81,000. Virtu Financial LLC acquired a new position in Select Medical in the 3rd quarter valued at about $210,000. Finally, Tidal Investments LLC purchased a new stake in Select Medical during the 3rd quarter valued at approximately $286,000. 89.48% of the stock is owned by institutional investors and hedge funds.

Select Medical Stock Performance

NYSE:SEM opened at $15.83 on Monday. The firm’s fifty day simple moving average is $18.09 and its 200-day simple moving average is $24.30. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.37. The stock has a market cap of $2.04 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 0.64 and a beta of 1.38. Select Medical Holdings Co. has a fifty-two week low of $15.40 and a fifty-two week high of $40.98.

Select Medical (NYSE:SEM) last issued its earnings results on Thursday, February 20th. The health services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.11). The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.50 billion. Select Medical had a return on equity of 14.04% and a net margin of 3.23%. Analysts expect that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.

Select Medical Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, March 3rd were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.58%. The ex-dividend date was Monday, March 3rd. Select Medical’s dividend payout ratio (DPR) is 15.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SEM shares. StockNews.com raised Select Medical from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Benchmark raised shares of Select Medical from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Monday, February 24th. UBS Group reduced their target price on shares of Select Medical from $40.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Royal Bank of Canada dropped their price target on shares of Select Medical from $47.00 to $23.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Select Medical has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

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.