Nuveen Asset Management LLC Sells 273,762 Shares of Select Medical Holdings Co. (NYSE:SEM)

Nuveen Asset Management LLC lessened its holdings in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 24.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 826,387 shares of the health services provider's stock after selling 273,762 shares during the quarter. Nuveen Asset Management LLC owned 0.64% of Select Medical worth $15,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Select Medical by 540.4% in the 4th quarter. Millennium Management LLC now owns 294,642 shares of the health services provider's stock worth $5,554,000 after acquiring an additional 248,631 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Select Medical by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,591 shares of the health services provider's stock valued at $1,161,000 after buying an additional 2,694 shares in the last quarter. Lazard Asset Management LLC grew its stake in Select Medical by 47.8% in the 4th quarter. Lazard Asset Management LLC now owns 6,974 shares of the health services provider's stock valued at $130,000 after acquiring an additional 2,255 shares during the last quarter. Graham Capital Management L.P. purchased a new position in Select Medical during the 4th quarter valued at about $1,125,000. Finally, D. E. Shaw & Co. Inc. raised its position in Select Medical by 5.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 49,330 shares of the health services provider's stock worth $930,000 after acquiring an additional 2,469 shares during the last quarter. 89.48% of the stock is owned by hedge funds and other institutional investors.

Select Medical Stock Up 0.2%

Select Medical stock traded up $0.04 during midday trading on Friday, hitting $15.21. The stock had a trading volume of 179,586 shares, compared to its average volume of 1,113,029. 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 business has a fifty day moving average price of $15.98 and a 200 day moving average price of $19.39. Select Medical Holdings Co. has a 12 month low of $14.03 and a 12 month high of $40.98. The stock has a market cap of $1.95 billion, a P/E ratio of 9.22, a P/E/G ratio of 0.64 and a beta of 1.40.

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 return on equity of 14.04% and a net margin of 3.23%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $0.75 EPS. The company's revenue for the quarter was down 24.4% on a year-over-year basis. Research analysts predict that Select Medical Holdings Co. will post 1.17 EPS for the current year.

Select Medical declared that its board has approved a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the health services provider to purchase up to 42.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

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 1.64%. The ex-dividend date was Thursday, May 15th. Select Medical's dividend payout ratio (DPR) is currently 18.66%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SEM shares. Royal Bank of Canada cut their price target on Select Medical from $23.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Benchmark raised Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a research note on Monday, February 24th. Wall Street Zen raised shares of Select Medical from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Finally, Mizuho initiated coverage on Select Medical in a research report on Wednesday, April 16th. They set an "outperform" rating and a $25.00 price target 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, Select Medical presently has an average rating of "Moderate Buy" and an average target price 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.