Select Medical Holdings Co. (NYSE:SEM) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Select Medical Holdings Co. (NYSE:SEM) by 1.3% during the first quarter, HoldingsChannel.com reports. The firm owned 312,366 shares of the health services provider’s stock after selling 4,136 shares during the period. Rhumbline Advisers’ holdings in Select Medical were worth $5,216,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in Select Medical by 179.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,296 shares of the health services provider’s stock worth $43,000 after buying an additional 1,473 shares in the last quarter. Covestor Ltd boosted its stake in shares of Select Medical by 33.5% during the 4th quarter. Covestor Ltd now owns 4,955 shares of the health services provider’s stock worth $93,000 after acquiring an additional 1,244 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Select Medical by 47.8% in the 4th quarter. Lazard Asset Management LLC now owns 6,974 shares of the health services provider’s stock worth $130,000 after acquiring an additional 2,255 shares during the period. Quarry LP increased its stake in Select Medical by 963.0% in the 4th quarter. Quarry LP now owns 9,078 shares of the health services provider’s stock valued at $171,000 after purchasing an additional 8,224 shares in the last quarter. Finally, HBK Investments L P acquired a new position in Select Medical during the fourth quarter worth $188,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.

Select Medical Stock Performance

NYSE SEM opened at $15.22 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.37. Select Medical Holdings Co. has a fifty-two week low of $14.03 and a fifty-two week high of $40.98. The business has a fifty day moving average of $15.71 and a 200-day moving average of $17.80. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.34.

Select Medical (NYSE:SEM) last announced its earnings results on Thursday, May 1st. The health services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.40 billion. Select Medical had a net margin of 3.23% and a return on equity of 14.04%. The company’s revenue for the quarter was down 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, May 15th. Select Medical’s dividend payout ratio is presently 18.66%.

Select Medical declared that its board has authorized a share buyback program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the health services provider to buy up to 42.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SEM has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their target price on Select Medical from $23.00 to $19.00 and set an “outperform” rating on the stock in a research 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 objective on the stock in a research report on Monday, February 24th. Mizuho assumed coverage on shares of Select Medical in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $25.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Select Medical from a “hold” rating to a “buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Insider Activity at Select Medical

In related news, Director Parvinderjit S. Khanuja acquired 21,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $15.02 per share, with a total value of $315,420.00. Following the purchase, the director now directly owns 65,089 shares in the company, valued at $977,636.78. The trade was a 47.63% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David S. Chernow sold 225,000 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $18.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 714,516 shares in the company, valued at $12,861,288. This represents a 23.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.60% of the company’s stock.

Select Medical Company Profile

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.