Point72 Asset Management L.P. Sells 316,706 Shares of Select Medical Holdings Co. (NYSE:SEM)

Point72 Asset Management L.P. decreased its holdings in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 15.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,743,085 shares of the health services provider's stock after selling 316,706 shares during the period. Point72 Asset Management L.P. owned about 1.35% of Select Medical worth $32,857,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LPL Financial LLC increased its stake in shares of Select Medical by 2.0% during the fourth quarter. LPL Financial LLC now owns 31,441 shares of the health services provider's stock worth $593,000 after purchasing an additional 619 shares during the period. Bank of Montreal Can increased its stake in shares of Select Medical by 4.5% during the fourth quarter. Bank of Montreal Can now owns 20,030 shares of the health services provider's stock worth $378,000 after purchasing an additional 867 shares during the period. Sippican Capital Advisors increased its stake in shares of Select Medical by 7.3% during the fourth quarter. Sippican Capital Advisors now owns 13,354 shares of the health services provider's stock worth $252,000 after purchasing an additional 912 shares during the period. Sterling Capital Management LLC grew its position in Select Medical by 9.5% during the fourth quarter. Sterling Capital Management LLC now owns 11,304 shares of the health services provider's stock worth $213,000 after buying an additional 978 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Select Medical by 2.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 56,719 shares of the health services provider's stock worth $1,069,000 after buying an additional 1,234 shares in the last quarter. Institutional investors own 89.48% of the company's stock.

Insider Buying and Selling

In related news, CEO David S. Chernow sold 225,000 shares of the firm'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 of the company's stock, valued at $12,861,288. This trade represents a 23.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Parvinderjit S. Khanuja bought 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, with a total value of $315,420.00. Following the completion of the transaction, the director now owns 65,089 shares in the company, valued at $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 corporate insiders.

Select Medical Price Performance

Shares of SEM stock traded down $0.09 during trading hours on Tuesday, reaching $15.11. The company's stock had a trading volume of 810,406 shares, compared to its average volume of 892,035. The firm's 50 day simple moving average is $16.28 and its 200-day simple moving average is $20.27. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 0.64 and a beta of 1.40. Select Medical Holdings Co. has a fifty-two week low of $14.03 and a fifty-two 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.

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 the consensus estimate of $0.45 by ($0.01). Select Medical had a net margin of 3.23% and a return on equity of 14.04%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $0.75 EPS. The company's revenue was down 24.4% compared to the same quarter last year. Sell-side 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 authorized a stock buyback program on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the health services provider to purchase up to 42.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Select Medical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, May 15th. Select Medical's dividend payout ratio (DPR) is 18.66%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SEM. StockNews.com raised Select Medical from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. Mizuho began coverage on Select Medical in a research report on Wednesday, April 16th. They set an "outperform" rating and a $25.00 price target on the stock. Benchmark raised 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, Royal Bank of Canada reduced their price target on Select Medical from $23.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

About Select Medical

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.