Neo Ivy Capital Management Acquires 34,289 Shares of Select Medical Holdings Co. (NYSE:SEM)

Neo Ivy Capital Management lifted its position in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 342,890.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,299 shares of the health services provider's stock after purchasing an additional 34,289 shares during the period. Neo Ivy Capital Management's holdings in Select Medical were worth $646,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of Select Medical by 179.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,296 shares of the health services provider's stock valued at $43,000 after purchasing an additional 1,473 shares during the period. Covestor Ltd grew its position in shares of Select Medical by 33.5% in the fourth quarter. Covestor Ltd now owns 4,955 shares of the health services provider's stock valued at $93,000 after purchasing an additional 1,244 shares in the last quarter. Lazard Asset Management LLC grew its position in Select Medical by 47.8% during the fourth quarter. Lazard Asset Management LLC now owns 6,974 shares of the health services provider's stock worth $130,000 after buying an additional 2,255 shares in the last quarter. Quarry LP boosted its holdings in shares of Select Medical by 963.0% in the 4th quarter. Quarry LP now owns 9,078 shares of the health services provider's stock worth $171,000 after purchasing an additional 8,224 shares in the last quarter. Finally, HBK Investments L P bought a new position in Select Medical during the 4th quarter valued at approximately $188,000. Institutional investors own 89.48% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Benchmark upgraded Select Medical from a "hold" rating to a "buy" rating and set a $23.00 target price on the stock in a research note on Monday, February 24th. Wall Street Zen upgraded Select Medical from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. Royal Bank of Canada reduced their price objective on shares of Select Medical from $23.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Mizuho started coverage on Select Medical in a research report on Wednesday, April 16th. They set an "outperform" rating and a $25.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Select Medical has an average rating of "Moderate Buy" and an average target price of $26.00.

Select Medical Stock Up 1.3%

NYSE:SEM traded up $0.19 during midday trading on Thursday, hitting $14.85. 726,525 shares of the company were exchanged, compared to its average volume of 917,797. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $1.91 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 0.64 and a beta of 1.40. Select Medical Holdings Co. has a fifty-two week low of $14.03 and a fifty-two week high of $40.98. The company has a fifty day simple moving average of $15.98 and a 200 day simple moving average of $19.39.

Select Medical (NYSE:SEM - Get Free Report) last announced its quarterly earnings results 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). Select Medical had a net margin of 3.23% and a return on equity of 14.04%. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the company earned $0.75 EPS. The firm's revenue for the quarter was down 24.4% on a year-over-year basis. As a group, equities analysts anticipate that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.

Select Medical Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.25 dividend on an annualized basis and a yield of 1.68%. Select Medical's dividend payout ratio is currently 18.66%.

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

Insider Activity

In related news, Director Parvinderjit S. Khanuja purchased 21,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were bought at an average price of $15.02 per share, with a total value of $315,420.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David S. Chernow sold 225,000 shares of the business's stock in a transaction on 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 sale, the chief executive officer now directly owns 714,516 shares in the company, valued at approximately $12,861,288. This trade represents a 23.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.60% of the company's stock.

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.