Select Medical Holdings Co. (NYSE:SEM) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 24.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 826,387 shares of the health services provider's stock after selling 273,762 shares during the period. Nuveen Asset Management LLC owned about 0.64% of Select Medical worth $15,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Millennium Management LLC increased its stake in Select Medical by 540.4% during the fourth quarter. Millennium Management LLC now owns 294,642 shares of the health services provider's stock worth $5,554,000 after purchasing an additional 248,631 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Select Medical by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,591 shares of the health services provider's stock worth $1,161,000 after buying an additional 2,694 shares during the period. Lazard Asset Management LLC increased its stake in shares of 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 during the period. Graham Capital Management L.P. purchased a new stake in shares of Select Medical during the fourth quarter worth approximately $1,125,000. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of 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 buying an additional 2,469 shares during the period. 89.48% of the stock is currently owned by hedge funds and other institutional investors.

Select Medical Stock Down 1.5%

Select Medical stock traded down $0.23 during mid-day trading on Wednesday, hitting $14.68. The company had a trading volume of 1,415,821 shares, compared to its average volume of 916,306. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 0.64 and a beta of 1.40. Select Medical Holdings Co. has a 1 year low of $14.03 and a 1 year 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 business has a fifty day moving average of $15.98 and a 200 day moving average of $19.39.

Select Medical (NYSE:SEM - Get Free Report) last posted its quarterly earnings data 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 3.23% and a return on equity of 14.04%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $0.75 earnings per share. Select Medical's revenue was down 24.4% compared to the same quarter last year. On average, sell-side analysts expect that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.

Select Medical announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the health services provider to repurchase up to 42.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

Select Medical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a $0.0625 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.25 annualized dividend and a yield of 1.70%. Select Medical's dividend payout ratio (DPR) is 18.66%.

Insider Activity at Select Medical

In related news, Director Parvinderjit S. Khanuja purchased 21,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was purchased 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 $977,636.78. This trade represents a 47.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David S. Chernow sold 225,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 714,516 shares of the company's stock, valued at approximately $12,861,288. This represents 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 insiders.

Analyst Ratings Changes

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 target price on the stock. Wall Street Zen upgraded shares of Select Medical from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Benchmark upgraded shares of 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. Finally, Royal Bank of Canada dropped 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 analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Select Medical currently 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.