Squarepoint Ops LLC Increases Stock Position in Select Medical Holdings Co. (NYSE:SEM)

Squarepoint Ops LLC raised its position in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 460.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,756 shares of the health services provider's stock after acquiring an additional 199,429 shares during the quarter. Squarepoint Ops LLC owned approximately 0.19% of Select Medical worth $4,576,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. American Century Companies Inc. grew its position in shares of Select Medical by 1,309.5% in the fourth quarter. American Century Companies Inc. now owns 137,169 shares of the health services provider's stock valued at $2,586,000 after purchasing an additional 127,437 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Select Medical by 122.8% in the fourth quarter. Sanctuary Advisors LLC now owns 52,175 shares of the health services provider's stock valued at $1,035,000 after purchasing an additional 28,759 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Select Medical by 9.5% in the fourth quarter. Sterling Capital Management LLC now owns 11,304 shares of the health services provider's stock valued at $213,000 after purchasing an additional 978 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Select Medical by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 12,712,990 shares of the health services provider's stock valued at $239,640,000 after purchasing an additional 131,228 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Select Medical by 14.0% in the fourth quarter. KBC Group NV now owns 14,883 shares of the health services provider's stock valued at $281,000 after purchasing an additional 1,833 shares in the last quarter. Institutional investors and hedge funds own 89.48% of the company's stock.

Select Medical Trading Up 0.7%

Shares of SEM traded up $0.11 during midday trading on Friday, hitting $15.28. 240,358 shares of the stock were exchanged, compared to its average volume of 1,114,180. Select Medical Holdings Co. has a 52-week low of $14.03 and a 52-week high of $40.98. The stock has a fifty day simple moving average of $15.98 and a 200 day simple moving average of $19.39. The firm has a market cap of $1.96 billion, a P/E ratio of 9.26, a P/E/G ratio of 0.64 and a beta of 1.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.13 and a current ratio of 1.13.

Select Medical (NYSE:SEM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The health services provider reported $0.44 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 firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. The company's quarterly revenue was down 24.4% on a year-over-year basis. On average, research analysts anticipate that Select Medical Holdings Co. will post 1.17 EPS for the current fiscal year.

Select Medical declared that its board has initiated a share buyback program 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 buy up to 42.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Select Medical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Thursday, May 15th. Select Medical's dividend payout ratio is presently 18.66%.

Insider Buying and Selling at Select Medical

In related news, CEO David S. Chernow sold 225,000 shares of the firm's stock in a transaction dated 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Parvinderjit S. Khanuja purchased 21,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average cost of $15.02 per share, for a total transaction of $315,420.00. Following the acquisition, the director now owns 65,089 shares of the company's stock, valued at approximately $977,636.78. The trade was a 47.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SEM. Benchmark upgraded Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price target for the company in a research report on Monday, February 24th. Royal Bank of Canada lowered their price objective 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 upgraded 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 research report 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 issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $26.00.

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.