Brevan Howard Capital Management LP Acquires 17,028 Shares of Select Medical Holdings Co. (NYSE:SEM)

Brevan Howard Capital Management LP lifted its holdings in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 100.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,986 shares of the health services provider's stock after buying an additional 17,028 shares during the period. Brevan Howard Capital Management LP's holdings in Select Medical were worth $641,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of 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 valued at $43,000 after buying an additional 1,473 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Select Medical in the third quarter valued at about $81,000. Covestor Ltd lifted its holdings in Select Medical by 33.5% in the fourth quarter. Covestor Ltd now owns 4,955 shares of the health services provider's stock valued at $93,000 after acquiring an additional 1,244 shares during the period. Tidal Investments LLC bought a new position in Select Medical in the third quarter valued at about $286,000. Finally, Quarry LP lifted its holdings in Select Medical by 963.0% in the fourth quarter. Quarry LP now owns 9,078 shares of the health services provider's stock valued at $171,000 after acquiring an additional 8,224 shares during the period. 89.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SEM has been the topic of a number of recent research reports. StockNews.com raised Select Medical from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Mizuho initiated coverage on Select Medical in a report on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 target price on the stock. Benchmark raised Select Medical from a "hold" rating to a "buy" rating and set a $23.00 target price on the stock in a report on Monday, February 24th. Finally, Royal Bank of Canada decreased their price objective on Select Medical from $23.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.00.

Select Medical Stock Performance

Shares of NYSE SEM traded down $0.15 during trading on Tuesday, hitting $15.09. The company had a trading volume of 841,260 shares, compared to its average volume of 881,717. The stock has a 50 day simple moving average of $16.52 and a 200 day simple moving average of $20.90. The firm has a market capitalization of $1.94 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.40. Select Medical Holdings Co. has a 12 month low of $14.03 and a 12 month high of $40.98. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.13 and a current ratio of 1.13.

Select Medical (NYSE:SEM - Get Free Report) last issued its earnings results on Thursday, May 1st. The health services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.40 billion. Select Medical had a net margin of 3.23% and a return on equity of 14.04%. The firm's revenue for the quarter was down 24.4% compared to the same quarter last year. During the same period last year, the business posted $0.75 EPS. As a group, analysts anticipate that Select Medical Holdings Co. will post 1.17 earnings per share for the current year.

Select Medical Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders 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 yield of 1.66%. The ex-dividend date is Thursday, May 15th. Select Medical's dividend payout ratio is presently 18.66%.

Select Medical declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the health services provider to reacquire up to 42.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Select Medical

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

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.