Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Purchases 177,670 Shares of Select Medical Holdings Corporation (NYSE:SEM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Select Medical Holdings Corporation (NYSE:SEM - Free Report) by 180.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 276,031 shares of the health services provider's stock after purchasing an additional 177,670 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.21% of Select Medical worth $4,502,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Select Medical by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 12,712,990 shares of the health services provider's stock valued at $239,640,000 after buying an additional 131,228 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Select Medical by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,431,469 shares of the health services provider's stock valued at $83,533,000 after acquiring an additional 62,585 shares during the period. Invesco Ltd. grew its position in Select Medical by 48.6% in the 4th quarter. Invesco Ltd. now owns 2,643,943 shares of the health services provider's stock valued at $49,838,000 after acquiring an additional 864,852 shares during the last quarter. Hood River Capital Management LLC increased its stake in 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 purchasing an additional 1,407,902 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Select Medical by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,656,320 shares of the health services provider's stock worth $31,222,000 after purchasing an additional 10,000 shares during the last quarter. 89.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SEM. Royal Bank Of Canada reduced their price target 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 initiated coverage on shares of Select Medical in a research note on Wednesday, April 16th. They set an "outperform" rating and a $25.00 price target for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Select Medical presently has a consensus rating of "Moderate Buy" and an average target price of $26.00.

Select Medical Stock Performance

SEM stock opened at $15.01 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.16 and a quick ratio of 1.16. Select Medical Holdings Corporation has a 1-year low of $14.03 and a 1-year high of $40.98. The business has a 50-day moving average price of $15.44 and a 200 day moving average price of $17.29. The company has a market capitalization of $1.93 billion, a P/E ratio of 11.20, a PEG ratio of 0.79 and a beta of 1.34.

Select Medical (NYSE:SEM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The health services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.40 billion. Select Medical had a net margin of 2.81% and a return on equity of 11.04%. The company's revenue for the quarter was down 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. As a group, equities research analysts forecast that Select Medical Holdings Corporation will post 1.17 EPS for the current fiscal year.

Select Medical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Thursday, May 15th. Select Medical's dividend payout ratio (DPR) is currently 18.66%.

Select Medical declared that its board has initiated a stock buyback plan 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 reacquire up to 42.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Select Medical

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

About Select Medical

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.

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