Moran Wealth Management LLC Increases Stake in Select Medical Holdings Corporation (NYSE:SEM)

Moran Wealth Management LLC increased its stake in shares of Select Medical Holdings Corporation (NYSE:SEM - Free Report) by 99.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 232,908 shares of the health services provider's stock after acquiring an additional 115,840 shares during the quarter. Moran Wealth Management LLC owned about 0.18% of Select Medical worth $3,890,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Select Medical by 151.0% during the first quarter. SG Americas Securities LLC now owns 37,684 shares of the health services provider's stock worth $629,000 after acquiring an additional 22,671 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Select Medical during the first quarter worth $460,000. American Century Companies Inc. boosted its position in shares of Select Medical by 1,309.5% during the fourth quarter. American Century Companies Inc. now owns 137,169 shares of the health services provider's stock worth $2,586,000 after acquiring an additional 127,437 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Select Medical by 122.8% during the fourth quarter. Sanctuary Advisors LLC now owns 52,175 shares of the health services provider's stock worth $1,035,000 after acquiring an additional 28,759 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Select Medical by 9.5% during the fourth quarter. Sterling Capital Management LLC now owns 11,304 shares of the health services provider's stock worth $213,000 after acquiring an additional 978 shares during the last quarter. Institutional investors own 89.48% of the company's stock.

Insider Transactions at Select Medical

In other Select Medical news, CEO David S. Chernow sold 225,000 shares of the stock in a transaction dated Monday, April 28th. The shares were 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 in the company, valued at $12,861,288. This represents a 23.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Parvinderjit S. Khanuja bought 21,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $15.02 per share, for a total transaction of $315,420.00. Following the completion of the acquisition, the director now owns 65,089 shares in the company, valued at $977,636.78. This represents a 47.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 11.60% of the company's stock.

Wall Street Analysts Forecast Growth

SEM has been the topic of a number of recent research reports. 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 on the stock. Royal Bank Of Canada decreased 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $26.00.

Select Medical Trading Up 1.7%

Shares of SEM traded up $0.26 during midday trading on Friday, hitting $15.27. The stock had a trading volume of 3,252,857 shares, compared to its average volume of 980,140. Select Medical Holdings Corporation has a 1 year low of $14.03 and a 1 year high of $40.98. The firm has a market cap of $1.96 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.81 and a beta of 1.34. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.16 and a quick ratio of 1.16. The stock's 50 day moving average is $15.39 and its 200 day moving average is $17.19.

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

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

Select Medical Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, May 15th. Select Medical's payout ratio is presently 18.66%.

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.