Baird Financial Group Inc. Has $5.67 Million Holdings in Select Medical Holdings Co. (NYSE:SEM)

Baird Financial Group Inc. raised its stake in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 300,643 shares of the health services provider's stock after buying an additional 31,207 shares during the period. Baird Financial Group Inc. owned about 0.23% of Select Medical worth $5,667,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Select Medical in the 4th quarter worth about $29,556,000. The Manufacturers Life Insurance Company grew its stake in shares of Select Medical by 2,552.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,596,414 shares of the health services provider's stock worth $30,092,000 after acquiring an additional 1,536,234 shares during the period. Hood River Capital Management LLC grew its stake in shares of Select Medical by 404.8% in the fourth quarter. Hood River Capital Management LLC now owns 1,755,733 shares of the health services provider's stock worth $33,096,000 after acquiring an additional 1,407,902 shares during the period. Invesco Ltd. boosted its holdings in shares of Select Medical by 48.6% in the fourth quarter. Invesco Ltd. now owns 2,643,943 shares of the health services provider's stock worth $49,838,000 after buying an additional 864,852 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Select Medical by 1,965.5% in the fourth quarter. BNP Paribas Financial Markets now owns 551,912 shares of the health services provider's stock worth $10,404,000 after buying an additional 525,192 shares during the last quarter. Institutional investors own 89.48% of the company's stock.

Select Medical Stock Performance

SEM traded up $0.32 on Thursday, hitting $15.13. 337,842 shares of the company traded hands, compared to its average volume of 883,245. The company has a 50 day moving average of $16.46 and a 200-day moving average of $20.86. Select Medical Holdings Co. has a 12-month low of $14.03 and a 12-month high of $40.98. 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 capitalization of $1.95 billion, a PE ratio of 9.16, a PEG ratio of 0.64 and a beta of 1.40.

Select Medical (NYSE:SEM - Get Free Report) last announced its quarterly earnings data 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). Select Medical had a return on equity of 14.04% and a net margin of 3.23%. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The company's revenue was down 24.4% on a year-over-year basis. Sell-side analysts anticipate that Select Medical Holdings Co. will post 1.17 earnings per share for the current year.

Select Medical declared that its board has initiated a share repurchase plan on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the health services provider to repurchase up to 42.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Select Medical Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, May 15th. Select Medical's dividend payout ratio (DPR) is 18.66%.

Insider Activity

In other news, CEO David S. Chernow sold 225,000 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $18.00, for a total value of $4,050,000.00. Following the sale, the chief executive officer now owns 714,516 shares in the company, valued at approximately $12,861,288. The trade was a 23.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Parvinderjit S. Khanuja bought 21,000 shares of Select Medical stock in a transaction dated Monday, May 5th. The stock was purchased at an average price of $15.02 per share, for a total transaction of $315,420.00. Following the purchase, the director now directly owns 65,089 shares in the company, valued at $977,636.78. This represents a 47.63% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 11.60% of the company's stock.

Wall Street Analyst Weigh In

SEM has been the topic of several analyst reports. StockNews.com raised 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 target price on shares of Select Medical from $23.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Mizuho assumed coverage on shares of Select Medical in a report on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price target on the stock. Finally, Benchmark upgraded shares of Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.00.

Select Medical 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.