Hsbc Holdings PLC Acquires 67,362 Shares of Select Medical Holdings Co. (NYSE:SEM)

Hsbc Holdings PLC lifted its position in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 270.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,305 shares of the health services provider's stock after acquiring an additional 67,362 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of Select Medical worth $1,751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Select Medical by 179.0% in the 4th 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Select Medical in the third quarter valued at about $81,000. Covestor Ltd grew its position in 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 acquiring an additional 1,244 shares during the last quarter. Virtu Financial LLC acquired a new position in Select Medical during the third quarter worth about $210,000. Finally, Tidal Investments LLC bought a new position in shares of Select Medical in the third quarter worth about $286,000. 89.48% of the stock is owned by institutional investors.

Select Medical Trading Down 22.0 %

NYSE SEM traded down $4.02 on Friday, reaching $14.22. The company had a trading volume of 4,343,374 shares, compared to its average volume of 848,976. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 0.64 and a beta of 1.38. Select Medical Holdings Co. has a fifty-two week low of $14.03 and a fifty-two week high of $40.98. The business has a 50 day moving average of $16.91 and a two-hundred day moving average of $21.74. 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 (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 analysts' consensus estimates of $0.45 by ($0.01). The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.40 billion. Select Medical had a return on equity of 14.04% and a net margin of 3.23%. Select Medical's revenue was down 24.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 earnings per share. Analysts forecast that Select Medical Holdings Co. will post 1.17 EPS for the current year.

Select Medical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.0625 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.25 dividend on an annualized basis and a yield of 1.76%. Select Medical's dividend payout ratio (DPR) is currently 15.15%.

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 reacquire up to 42.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

SEM has been the subject of several research reports. StockNews.com raised shares of Select Medical from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. 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 note on Monday, February 24th. Royal Bank of Canada reduced their price objective on Select Medical from $47.00 to $23.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Finally, Mizuho initiated coverage on Select Medical in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Select Medical currently has an average rating of "Moderate Buy" and a consensus target price of $26.80.

Insiders Place Their Bets

In other news, CEO David S. Chernow sold 225,000 shares of Select Medical stock in a transaction on Monday, April 28th. The shares were sold at an average price of $18.00, for a total value of $4,050,000.00. Following the completion of the sale, the chief executive officer now owns 714,516 shares in the company, valued at $12,861,288. The trade was a 23.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 11.60% of the company's stock.

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.