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

Wedge Capital Management L L P NC raised its stake in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 16.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,110 shares of the health services provider's stock after acquiring an additional 19,061 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.11% of Select Medical worth $2,290,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SEM. Norges Bank bought a new position in Select Medical during the 4th quarter valued at $29,556,000. The Manufacturers Life Insurance Company boosted its stake in Select Medical by 2,552.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,596,414 shares of the health services provider's stock valued at $30,092,000 after acquiring an additional 1,536,234 shares during the last quarter. Hood River Capital Management LLC boosted its stake in Select Medical by 404.8% during the 4th 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 during the last quarter. Invesco Ltd. lifted its position in shares of Select Medical by 48.6% in the 4th quarter. Invesco Ltd. now owns 2,643,943 shares of the health services provider's stock worth $49,838,000 after buying an additional 864,852 shares during the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in shares of Select Medical in the 4th quarter worth about $14,074,000. 89.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Select Medical

In related news, Director Parvinderjit S. Khanuja bought 21,000 shares of the stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $15.02 per share, with a total value of $315,420.00. Following the purchase, the director now owns 65,089 shares in the company, valued at approximately $977,636.78. This represents a 47.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Chernow sold 225,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 714,516 shares in the company, valued at approximately $12,861,288. The trade was a 23.95% decrease in their position. The disclosure for this sale can be found here. 11.60% of the stock is owned by corporate insiders.

Select Medical Stock Performance

Shares of SEM stock traded down $0.15 during trading hours on Friday, reaching $15.05. The stock had a trading volume of 1,417,293 shares, compared to its average volume of 952,091. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.13 and a quick ratio of 1.13. Select Medical Holdings Co. has a twelve month low of $14.03 and a twelve month high of $40.98. The firm has a 50-day simple moving average of $15.70 and a 200-day simple moving average of $17.64. The firm has a market capitalization of $1.93 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.64 and a beta of 1.34.

Select Medical (NYSE:SEM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The health services provider reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $0.75 EPS. The firm's revenue was down 24.4% on a year-over-year basis. As a group, equities analysts forecast that Select Medical Holdings Co. will post 1.17 earnings per share for the current year.

Select Medical declared that its board has approved a stock buyback 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 reacquire up to 42.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Select Medical Announces Dividend

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 dividend of $0.0625 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.25 annualized dividend and a yield of 1.66%. Select Medical's payout ratio is 18.66%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SEM shares. Mizuho started coverage on shares of Select Medical in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price target on the stock. Royal Bank of Canada reduced 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 report on Wednesday, May 7th. 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 report on Monday, February 24th. Finally, Wall Street Zen upgraded shares of Select Medical from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.