Raymond James Financial Inc. Buys Shares of 310,793 Select Medical Holdings Co. (NYSE:SEM)

Raymond James Financial Inc. bought a new position in Select Medical Holdings Co. (NYSE:SEM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 310,793 shares of the health services provider's stock, valued at approximately $5,858,000. Raymond James Financial Inc. owned 0.24% of Select Medical at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Select Medical by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 416,299 shares of the health services provider's stock valued at $14,516,000 after acquiring an additional 36,905 shares in the last quarter. Argent Capital Management LLC raised its position in shares of Select Medical by 79.8% during the 4th quarter. Argent Capital Management LLC now owns 55,144 shares of the health services provider's stock worth $1,039,000 after purchasing an additional 24,471 shares during the period. American Century Companies Inc. grew its position in shares of Select Medical by 1,309.5% during the fourth quarter. American Century Companies Inc. now owns 137,169 shares of the health services provider's stock worth $2,586,000 after acquiring an additional 127,437 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Select Medical by 122.8% during the fourth quarter. Sanctuary Advisors LLC now owns 52,175 shares of the health services provider's stock valued at $1,035,000 after buying an additional 28,759 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in 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 worth $239,640,000 after acquiring an additional 131,228 shares during the period. Institutional investors and hedge funds own 89.48% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SEM. Mizuho began coverage on shares of Select Medical in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price target for the company. Benchmark raised Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a research note on Monday, February 24th. UBS Group lowered their price objective on shares of Select Medical from $40.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, January 3rd. Royal Bank of Canada decreased their target price on Select Medical from $47.00 to $23.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Finally, StockNews.com raised shares of Select Medical from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Select Medical presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.80.

Select Medical Stock Down 0.8 %

Shares of Select Medical stock traded down $0.15 on Wednesday, hitting $18.26. 1,082,779 shares of the company traded hands, compared to its average volume of 835,155. 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 Holdings Co. has a 12-month low of $14.99 and a 12-month high of $40.98. The company has a 50-day moving average price of $17.00 and a 200 day moving average price of $22.10. The company has a market cap of $2.35 billion, a PE ratio of 11.07, a PEG ratio of 0.64 and a beta of 1.38.

Select Medical (NYSE:SEM - Get Free Report) last posted its earnings results on Thursday, February 20th. The health services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.11). The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.50 billion. Select Medical had a net margin of 3.23% and a return on equity of 14.04%. Sell-side analysts predict that Select Medical Holdings Co. will post 1.17 earnings per share for the current year.

Select Medical Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, March 3rd were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Monday, March 3rd. Select Medical's payout ratio is presently 15.15%.

Insider Transactions at Select Medical

In other Select Medical news, CEO David S. Chernow sold 225,000 shares of the 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.60% of the stock is owned by insiders.

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.