Sivik Global Healthcare LLC Increases Holdings in Select Medical Holdings Corporation (NYSE:SEM)

Sivik Global Healthcare LLC lifted its position in Select Medical Holdings Corporation (NYSE:SEM - Free Report) by 33.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 200,000 shares of the health services provider's stock after purchasing an additional 50,000 shares during the period. Select Medical accounts for about 1.8% of Sivik Global Healthcare LLC's investment portfolio, making the stock its 25th biggest position. Sivik Global Healthcare LLC owned approximately 0.16% of Select Medical worth $3,340,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in shares of Select Medical by 179.0% in the fourth 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 boosted its holdings 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 during the period. GAMMA Investing LLC boosted its holdings in shares of Select Medical by 217.4% in the first quarter. GAMMA Investing LLC now owns 6,501 shares of the health services provider's stock valued at $109,000 after purchasing an additional 4,453 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Select Medical by 47.8% in the fourth quarter. Lazard Asset Management LLC now owns 6,974 shares of the health services provider's stock valued at $130,000 after purchasing an additional 2,255 shares during the period. Finally, Quarry LP boosted its holdings in shares of Select Medical by 963.0% in the fourth quarter. Quarry LP now owns 9,078 shares of the health services provider's stock valued at $171,000 after purchasing an additional 8,224 shares during the period. Hedge funds and other institutional investors own 89.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SEM. Benchmark raised shares of Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company 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. 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 began coverage on shares of Select Medical in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Select Medical currently has an average rating of "Moderate Buy" and a consensus target price of $26.00.

Select Medical Stock Performance

Shares of SEM stock opened at $14.83 on Friday. The business's fifty day simple moving average is $15.56 and its 200-day simple moving average is $17.44. The company has a market cap of $1.91 billion, a PE ratio of 11.06, a PEG ratio of 0.79 and a beta of 1.34. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.87. Select Medical Holdings Corporation has a 12-month low of $14.03 and a 12-month high of $40.98.

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 analysts' consensus estimates of $0.45 by ($0.01). The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.40 billion. Select Medical had a return on equity of 11.04% and a net margin of 2.81%. The business's revenue for the quarter was down 24.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. Analysts expect that Select Medical Holdings Corporation will post 1.17 earnings per share for the current fiscal year.

Select Medical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Thursday, May 15th. Select Medical's payout ratio is presently 18.66%.

Select Medical announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the health services provider to purchase up to 42.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Parvinderjit S. Khanuja acquired 21,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were 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 of the company's stock, valued at $977,636.78. This represents a 47.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 $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.

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