Select Medical Holdings Co. (NYSE:SEM) Stake Reduced by LMR Partners LLP

LMR Partners LLP trimmed its position in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 40.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 104,464 shares of the health services provider's stock after selling 71,597 shares during the quarter. LMR Partners LLP owned approximately 0.08% of Select Medical worth $1,969,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SEM. Norges Bank acquired a new stake in Select Medical in the 4th quarter worth about $29,556,000. The Manufacturers Life Insurance Company boosted its position in shares of Select Medical by 2,552.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,596,414 shares of the health services provider's stock worth $30,092,000 after acquiring an additional 1,536,234 shares during the last quarter. Hood River Capital Management LLC grew its holdings in Select Medical by 404.8% in the fourth 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 purchasing an additional 1,407,902 shares during the period. Invesco Ltd. raised its stake in Select Medical by 48.6% during the fourth quarter. Invesco Ltd. now owns 2,643,943 shares of the health services provider's stock worth $49,838,000 after purchasing an additional 864,852 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Select Medical in the 4th quarter valued at $14,074,000. Hedge funds and other institutional investors own 89.48% of the company's stock.

Select Medical Stock Down 0.9%

Shares of SEM traded down $0.13 during mid-day trading on Monday, reaching $15.22. 123,984 shares of the stock traded hands, compared to its average volume of 887,279. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 0.64 and a beta of 1.40. The stock has a fifty day simple moving average of $16.32 and a 200 day simple moving average of $20.49. 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 $14.03 and a 12-month high of $40.98.

Select Medical (NYSE:SEM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The health services provider reported $0.44 EPS 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 quarter in the prior year, the firm earned $0.75 EPS. The business's quarterly revenue was down 24.4% compared to the same quarter last year. Sell-side analysts expect that Select Medical Holdings Co. will post 1.17 EPS for the current fiscal year.

Select Medical declared that its board has approved a stock buyback plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the health services provider to repurchase up to 42.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Select Medical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, May 15th. Select Medical's payout ratio is currently 18.66%.

Insider Activity at Select Medical

In related news, CEO David S. Chernow sold 225,000 shares of the company'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 approximately $12,861,288. This represents a 23.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Parvinderjit S. Khanuja acquired 21,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was acquired at an average cost of $15.02 per share, with a total value of $315,420.00. Following the acquisition, the director now owns 65,089 shares of the company's stock, valued at $977,636.78. This trade represents 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 currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SEM shares. Royal Bank of Canada reduced their target price on Select Medical from $23.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. StockNews.com raised Select Medical from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Benchmark raised shares of Select Medical from a "hold" rating to a "buy" rating and set a $23.00 target price for the company in a research report on Monday, February 24th. Finally, Mizuho started coverage on shares of Select Medical in a research note on Wednesday, April 16th. They set an "outperform" rating and a $25.00 price objective for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.