Bank of America Corp DE Purchases 379,598 Shares of Select Medical Holdings Co. (NYSE:SEM)

Bank of America Corp DE raised its stake in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 46.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,192,578 shares of the health services provider's stock after acquiring an additional 379,598 shares during the period. Bank of America Corp DE owned approximately 0.92% of Select Medical worth $22,480,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in shares of Select Medical by 1,309.5% in the 4th quarter. American Century Companies Inc. now owns 137,169 shares of the health services provider's stock worth $2,586,000 after purchasing an additional 127,437 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Select Medical by 122.8% in the 4th quarter. Sanctuary Advisors LLC now owns 52,175 shares of the health services provider's stock worth $1,035,000 after purchasing an additional 28,759 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Select Medical by 9.5% in the 4th quarter. Sterling Capital Management LLC now owns 11,304 shares of the health services provider's stock worth $213,000 after purchasing an additional 978 shares during the period. Vanguard Group Inc. lifted its stake in shares of Select Medical by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 12,712,990 shares of the health services provider's stock worth $239,640,000 after purchasing an additional 131,228 shares during the period. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Select Medical by 66.0% in the 4th quarter. Wedge Capital Management L L P NC now owns 118,049 shares of the health services provider's stock worth $2,225,000 after purchasing an additional 46,925 shares during the period. Institutional investors own 89.48% of the company's stock.

Select Medical Price Performance

Shares of Select Medical stock traded down $0.11 on Friday, hitting $14.38. 1,298,322 shares of the company traded hands, compared to its average volume of 902,729. The stock has a market capitalization of $1.85 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 0.64 and a beta of 1.40. 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 Holdings Co. has a 52 week low of $14.03 and a 52 week high of $40.98. The business has a 50-day simple moving average of $16.11 and a 200 day simple moving average of $19.76.

Select Medical (NYSE:SEM - Get Free Report) last released its quarterly earnings data 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 company 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 company's quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. Research analysts expect that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.

Select Medical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, May 15th. Select Medical's dividend payout ratio is presently 18.66%.

Select Medical announced that its board has authorized a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the health services provider to repurchase up to 42.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SEM. Royal Bank of Canada lowered their price objective 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. Wall Street Zen raised shares of 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 target price for the company in a report on Monday, February 24th. Finally, Mizuho started coverage on shares of Select Medical in a report on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 target price for the company. One research 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, Select Medical presently has a consensus rating of "Moderate Buy" and an average target price of $26.00.

Insider Buying and Selling

In related news, Director Parvinderjit S. Khanuja bought 21,000 shares of the stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $15.02 per share, with a total value of $315,420.00. Following the completion of the purchase, the director now owns 65,089 shares of the company's stock, valued at $977,636.78. This trade represents a 47.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David S. Chernow sold 225,000 shares of Select Medical stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 714,516 shares of the company's stock, valued at $12,861,288. The trade was a 23.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by company insiders.

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.