State of Tennessee Department of Treasury Boosts Position in Select Medical Holdings Co. (NYSE:SEM)

State of Tennessee Department of Treasury increased its position in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 33.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,139 shares of the health services provider's stock after buying an additional 18,218 shares during the period. State of Tennessee Department of Treasury owned 0.06% of Select Medical worth $1,379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Select Medical by 1.0% in 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 acquiring an additional 131,228 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Select Medical by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,431,469 shares of the health services provider's stock valued at $83,533,000 after purchasing an additional 62,585 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Select Medical by 48.6% during the fourth quarter. Invesco Ltd. now owns 2,643,943 shares of the health services provider's stock valued at $49,838,000 after purchasing an additional 864,852 shares during the period. Principal Financial Group Inc. boosted its position in shares of Select Medical by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 2,403,508 shares of the health services provider's stock worth $45,310,000 after purchasing an additional 45,685 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Select Medical by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,656,320 shares of the health services provider's stock valued at $31,222,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 89.48% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on SEM shares. StockNews.com upgraded Select Medical from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Mizuho began coverage on shares of Select Medical in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price target for the company. Benchmark upgraded shares of Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a report on Monday, February 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Select Medical from $47.00 to $23.00 and set an "outperform" rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Select Medical presently has an average rating of "Moderate Buy" and an average target price of $26.80.

Insider Activity

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 of the company's stock, valued at approximately $12,861,288. This represents a 23.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.60% of the company's stock.

Select Medical Stock Performance

Shares of Select Medical stock traded up $0.02 during mid-day trading on Tuesday, hitting $14.78. 127,138 shares of the stock were exchanged, compared to its average volume of 856,670. The company has a market capitalization of $1.91 billion, a P/E ratio of 8.97, a P/E/G ratio of 0.64 and a beta of 1.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.13 and a current ratio of 1.13. The company has a 50-day simple moving average of $16.84 and a 200 day simple moving average of $21.52. 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 posted 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 return on equity of 14.04% and a net margin of 3.23%. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the prior year, the firm posted $0.75 EPS. The firm's revenue for the quarter was down 24.4% on a year-over-year basis. Sell-side analysts anticipate that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.

Select Medical Dividend Announcement

The business also recently announced 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. This represents a $0.25 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Thursday, May 15th. Select Medical's payout ratio is 18.66%.

Select Medical announced that its Board of Directors has initiated a share buyback plan 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 repurchase up to 42.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

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.