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

Neo Ivy Capital Management boosted its holdings in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 342,890.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,299 shares of the health services provider's stock after acquiring an additional 34,289 shares during the quarter. Neo Ivy Capital Management's holdings in Select Medical were worth $646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LPL Financial LLC increased its stake in Select Medical by 2.0% in the 4th quarter. LPL Financial LLC now owns 31,441 shares of the health services provider's stock worth $593,000 after buying an additional 619 shares in the last quarter. Bank of Montreal Can increased its stake in Select Medical by 4.5% during the fourth quarter. Bank of Montreal Can now owns 20,030 shares of the health services provider's stock worth $378,000 after acquiring an additional 867 shares during the last quarter. Sippican Capital Advisors increased its stake in Select Medical by 7.3% during the fourth quarter. Sippican Capital Advisors now owns 13,354 shares of the health services provider's stock worth $252,000 after acquiring an additional 912 shares during the last quarter. Sterling Capital Management LLC grew its stake 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 valued at $213,000 after buying an additional 978 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Select Medical by 2.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 56,719 shares of the health services provider's stock valued at $1,069,000 after buying an additional 1,234 shares during the last quarter. 89.48% of the stock is owned by institutional investors.

Select Medical Trading Up 3.3%

SEM stock traded up $0.48 during midday trading on Tuesday, hitting $14.87. The stock had a trading volume of 3,797,434 shares, compared to its average volume of 914,308. The firm has a market cap of $1.91 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 0.64 and a beta of 1.40. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.13 and a quick ratio of 1.13. Select Medical Holdings Co. has a 12-month low of $14.03 and a 12-month high of $40.98. The company's 50-day moving average price is $16.02 and its 200 day moving average price is $19.42.

Select Medical (NYSE:SEM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The health services provider reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). Select Medical had a return on equity of 14.04% and a net margin of 3.23%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The business's quarterly revenue was down 24.4% compared to the same quarter last year. On average, equities research analysts predict that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.

Select Medical declared that its board has approved a share repurchase program on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the health services provider to repurchase up to 42.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Select Medical Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a $0.0625 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.25 annualized dividend and a yield of 1.68%. Select Medical's dividend payout ratio (DPR) is presently 18.66%.

Insider Buying and Selling

In other news, Director Parvinderjit S. Khanuja purchased 21,000 shares of Select Medical 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 transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $4,050,000.00. Following the sale, the chief executive officer now directly owns 714,516 shares of the company's stock, 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. Insiders own 11.60% of the company's stock.

Wall Street Analyst Weigh In

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

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.