Bank of New York Mellon Corp Reduces Stock Position in Select Medical Holdings Corporation (NYSE:SEM)

Bank of New York Mellon Corp decreased its holdings in Select Medical Holdings Corporation (NYSE:SEM - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,343,768 shares of the health services provider's stock after selling 40,792 shares during the period. Bank of New York Mellon Corp owned about 1.04% of Select Medical worth $22,441,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SEM. LPL Financial LLC raised its holdings in shares of Select Medical by 2.0% in the fourth quarter. LPL Financial LLC now owns 31,441 shares of the health services provider's stock valued at $593,000 after buying an additional 619 shares during the last quarter. Vista Finance LLC lifted its position in Select Medical by 7.0% in the first quarter. Vista Finance LLC now owns 10,969 shares of the health services provider's stock valued at $183,000 after purchasing an additional 716 shares during the period. Net Worth Advisory Group lifted its position in Select Medical by 6.4% in the first quarter. Net Worth Advisory Group now owns 14,045 shares of the health services provider's stock valued at $235,000 after purchasing an additional 846 shares during the period. Bank of Montreal Can lifted its position in Select Medical by 4.5% in the fourth quarter. Bank of Montreal Can now owns 20,030 shares of the health services provider's stock valued at $378,000 after purchasing an additional 867 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Select Medical by 9.5% in the fourth quarter. Sterling Capital Management LLC now owns 11,304 shares of the health services provider's stock valued at $213,000 after buying an additional 978 shares in the last quarter. Institutional investors and hedge funds own 89.48% of the company's stock.

Insider Activity at Select Medical

In related news, CEO David S. Chernow sold 225,000 shares of Select Medical 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 completion of the sale, the chief executive officer owned 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Parvinderjit S. Khanuja acquired 21,000 shares of the business's stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $15.02 per share, for a total transaction of $315,420.00. Following the completion of the acquisition, the director directly owned 65,089 shares in the company, valued at approximately $977,636.78. The trade was a 47.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 11.60% of the company's stock.

Select Medical Trading Down 2.6%

Select Medical stock traded down $0.39 during midday trading on Friday, hitting $14.38. 828,252 shares of the stock were exchanged, compared to its average volume of 995,011. The company has a fifty day simple moving average of $14.99 and a two-hundred day simple moving average of $16.78. Select Medical Holdings Corporation has a 52 week low of $14.03 and a 52 week high of $40.98. The stock has a market capitalization of $1.85 billion, a PE ratio of 10.73, a P/E/G ratio of 0.78 and a beta of 1.32. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.87.

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 for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). Select Medical had a return on equity of 11.04% and a net margin of 2.81%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Select Medical's quarterly revenue was down 24.4% on a year-over-year basis. Equities research analysts anticipate that Select Medical Holdings Corporation will post 1.17 EPS for the current fiscal year.

Select Medical declared that its Board of Directors has approved a stock buyback program on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the health services provider to reacquire up to 42.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

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 paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Thursday, May 15th. Select Medical's dividend payout ratio is currently 18.66%.

Analyst Ratings Changes

SEM has been the topic of a number of research analyst reports. Mizuho started 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. 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 report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.00.

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.