Select Medical Holdings Co. (NYSE:SEM) Stock Holdings Increased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 16.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 137,110 shares of the health services provider's stock after buying an additional 19,061 shares during the period. Wedge Capital Management L L P NC owned 0.11% of Select Medical worth $2,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SEM. Vanguard Group Inc. grew its stake in Select Medical by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 12,712,990 shares of the health services provider's stock worth $239,640,000 after buying an additional 131,228 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Select Medical by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,431,469 shares of the health services provider's stock valued at $83,533,000 after buying an additional 62,585 shares in the last quarter. Invesco Ltd. lifted its position in Select Medical by 48.6% during the 4th quarter. Invesco Ltd. now owns 2,643,943 shares of the health services provider's stock worth $49,838,000 after acquiring an additional 864,852 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Select Medical by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 2,403,508 shares of the health services provider's stock worth $45,310,000 after acquiring an additional 45,685 shares during the period. Finally, Hood River Capital Management LLC grew its position in Select Medical by 404.8% in the fourth quarter. Hood River Capital Management LLC now owns 1,755,733 shares of the health services provider's stock valued at $33,096,000 after acquiring an additional 1,407,902 shares in the last quarter. 89.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO David S. Chernow sold 225,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 714,516 shares in the company, valued at $12,861,288. This represents a 23.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Parvinderjit S. Khanuja bought 21,000 shares of the business's stock in a transaction on Monday, May 5th. The stock was bought at an average price of $15.02 per share, for a total transaction of $315,420.00. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. Corporate insiders own 11.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SEM. Benchmark raised shares of Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price target for the company in a report on Monday, February 24th. Mizuho began coverage on Select Medical in a research report on Wednesday, April 16th. They set an "outperform" rating and a $25.00 target price on the stock. Royal Bank of Canada reduced 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. Finally, Wall Street Zen upgraded Select Medical from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.00.

Select Medical Stock Performance

NYSE:SEM traded down $0.11 during trading hours on Tuesday, reaching $15.38. 814,176 shares of the stock were exchanged, compared to its average volume of 935,899. Select Medical Holdings Co. has a 52 week low of $14.03 and a 52 week 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 stock has a market capitalization of $1.98 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.64 and a beta of 1.34. The firm has a 50 day simple moving average of $15.74 and a 200-day simple moving average of $17.84.

Select Medical (NYSE:SEM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The health services provider reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.40 billion. Select Medical had a return on equity of 14.04% and a net margin of 3.23%. The business's revenue for the quarter was down 24.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. As a group, sell-side analysts forecast that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.

Select Medical declared that its board has approved a stock repurchase program on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the health services provider to reacquire up to 42.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Select Medical Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.25 dividend on an annualized basis and a yield of 1.63%. Select Medical's payout ratio is currently 18.66%.

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.