Phocas Financial Corp. Purchases New Holdings in Select Medical Holdings Co. (NYSE:SEM)

Phocas Financial Corp. acquired a new stake in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 99,570 shares of the health services provider's stock, valued at approximately $1,877,000. Phocas Financial Corp. owned 0.08% of Select Medical at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. boosted its stake in Select Medical by 1,309.5% in the 4th quarter. American Century Companies Inc. now owns 137,169 shares of the health services provider's stock valued at $2,586,000 after buying an additional 127,437 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Select Medical by 122.8% in the 4th quarter. Sanctuary Advisors LLC now owns 52,175 shares of the health services provider's stock valued at $1,035,000 after buying an additional 28,759 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Select Medical by 9.5% in the 4th 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 in the last quarter. Vanguard Group Inc. boosted its stake in Select Medical by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 12,712,990 shares of the health services provider's stock valued at $239,640,000 after buying an additional 131,228 shares in the last quarter. Finally, KBC Group NV boosted its stake in Select Medical by 14.0% in the 4th quarter. KBC Group NV now owns 14,883 shares of the health services provider's stock valued at $281,000 after buying an additional 1,833 shares in the last quarter. 89.48% of the stock is currently owned by institutional investors.

Insider Activity at Select Medical

In other Select Medical news, Director Parvinderjit S. Khanuja purchased 21,000 shares of the stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $15.02 per share, for a total transaction of $315,420.00. Following the completion of the acquisition, the director now directly owns 65,089 shares of the company's stock, valued at $977,636.78. The trade was a 47.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Chernow sold 225,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 714,516 shares of the company's stock, valued at $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. 11.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on SEM shares. Wall Street Zen raised Select Medical from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Benchmark raised Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a research note on Monday, February 24th. Mizuho assumed coverage on Select Medical in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on 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 issued a buy rating to the company. According to MarketBeat.com, Select Medical presently has an average rating of "Moderate Buy" and a consensus price target of $26.00.

Select Medical Trading Up 1.0%

Shares of SEM traded up $0.15 during trading hours on Friday, hitting $15.32. 1,458,596 shares of the stock traded hands, compared to its average volume of 928,122. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37. Select Medical Holdings Co. has a 1-year low of $14.03 and a 1-year high of $40.98. The firm has a market capitalization of $1.97 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.64 and a beta of 1.40. The business has a fifty day moving average of $15.95 and a 200-day moving average of $19.21.

Select Medical (NYSE:SEM - Get Free Report) last issued 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). The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.40 billion. Select Medical had a net margin of 3.23% and a return on equity of 14.04%. The company's revenue was down 24.4% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. Analysts expect that Select Medical Holdings Co. will post 1.17 EPS for the current year.

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

Select Medical Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.0625 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.25 dividend on an annualized basis and a yield of 1.63%. Select Medical's dividend 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.