Millennium Management LLC Has $5.55 Million Stock Position in Select Medical Holdings Co. (NYSE:SEM)

Millennium Management LLC grew its stake in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 540.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 294,642 shares of the health services provider's stock after buying an additional 248,631 shares during the quarter. Millennium Management LLC owned 0.23% of Select Medical worth $5,554,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Select Medical by 1.0% during 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Select Medical by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,431,469 shares of the health services provider's stock worth $83,533,000 after buying an additional 62,585 shares in the last quarter. Invesco Ltd. raised 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 buying an additional 864,852 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Select Medical by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 2,403,508 shares of the health services provider's stock valued at $45,310,000 after acquiring an additional 45,685 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its position in Select Medical by 404.8% during the 4th 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 last quarter. Institutional investors own 89.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SEM. Mizuho began coverage on shares of Select Medical in a report on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price objective on the stock. Benchmark upgraded shares of Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a research note on Monday, February 24th. Wall Street Zen upgraded Select Medical from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Finally, Royal Bank of Canada dropped their target price on Select Medical from $23.00 to $19.00 and set an "outperform" rating on the stock in a report 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $26.00.

Select Medical Stock Performance

Shares of SEM stock traded up $0.15 on Friday, reaching $15.32. The stock had a trading volume of 1,458,596 shares, compared to its average volume of 926,459. 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 firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 0.64 and a beta of 1.40. The firm's 50-day moving average is $15.95 and its two-hundred day moving average is $19.21.

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 analysts' consensus estimates of $0.45 by ($0.01). The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.40 billion. Select Medical had a net margin of 3.23% and a return on equity of 14.04%. The business's quarterly revenue was down 24.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. On average, research analysts expect that Select Medical Holdings Co. will post 1.17 EPS for the current fiscal year.

Select Medical Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, May 15th. Select Medical's payout ratio is 18.66%.

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

Insider Transactions at Select Medical

In related news, CEO David S. Chernow sold 225,000 shares of the business's 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 sale, the chief executive officer now directly owns 714,516 shares in the company, valued at approximately $12,861,288. The trade was a 23.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Parvinderjit S. Khanuja acquired 21,000 shares of the company's stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $15.02 per share, with a total value of $315,420.00. Following the completion of the acquisition, the director now directly owns 65,089 shares in the company, valued at approximately $977,636.78. This represents a 47.63% increase in their ownership of the stock. 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.