First Trust Advisors LP Acquires 62,592 Shares of Select Medical Holdings Co. (NYSE:SEM)

First Trust Advisors LP boosted its stake in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 106.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,647 shares of the health services provider's stock after purchasing an additional 62,592 shares during the period. First Trust Advisors LP owned about 0.09% of Select Medical worth $2,293,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Select Medical by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 416,299 shares of the health services provider's stock valued at $14,516,000 after buying an additional 36,905 shares in the last quarter. Argent Capital Management LLC lifted its holdings in Select Medical by 79.8% during the fourth quarter. Argent Capital Management LLC now owns 55,144 shares of the health services provider's stock valued at $1,039,000 after purchasing an additional 24,471 shares in the last quarter. American Century Companies Inc. boosted 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 worth $2,586,000 after purchasing an additional 127,437 shares during the period. Sanctuary Advisors LLC increased its stake 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 worth $1,035,000 after purchasing an additional 28,759 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Select Medical by 1.0% during 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 purchasing an additional 131,228 shares during the period. Institutional investors own 89.48% of the company's stock.

Select Medical Price Performance

Shares of NYSE:SEM traded up $0.22 during mid-day trading on Friday, reaching $14.91. The stock had a trading volume of 1,816,907 shares, compared to its average volume of 881,757. The business's 50 day moving average price is $16.57 and its 200 day moving average price is $21.09. Select Medical Holdings Co. has a 1 year low of $14.03 and a 1 year high of $40.98. The company has a market cap of $1.92 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 0.64 and a beta of 1.40. 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 (NYSE:SEM - Get Free Report) last issued its quarterly earnings data 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). 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 period last year, the company earned $0.75 earnings per share. The firm's revenue was down 24.4% on a year-over-year basis. Research analysts expect that Select Medical Holdings Co. will post 1.17 EPS for the current fiscal year.

Select Medical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.68%. Select Medical's payout ratio is currently 18.66%.

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

Analysts Set New Price Targets

SEM has been the subject of several recent analyst reports. StockNews.com raised shares of Select Medical from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Royal Bank of Canada dropped their price objective on Select Medical from $23.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday. Mizuho initiated coverage on Select Medical in a report on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price target on the stock. Finally, 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 report on Monday, February 24th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Select Medical presently has an average rating of "Moderate Buy" and an average price target of $26.00.

Insider Activity

In other Select Medical news, CEO David S. Chernow sold 225,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 714,516 shares of the company's stock, valued at $12,861,288. The trade was a 23.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Parvinderjit S. Khanuja bought 21,000 shares of the business's stock in a transaction dated 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 transaction, the director now owns 65,089 shares in the company, valued at approximately $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.

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.