State of Tennessee Department of Treasury Purchases 18,218 Shares of Select Medical Holdings Co. (NYSE:SEM)

State of Tennessee Department of Treasury grew its stake in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 33.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 approximately 0.06% of Select Medical worth $1,379,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its position in shares of Select Medical by 179.0% in the fourth 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Select Medical in the 3rd quarter worth approximately $81,000. Covestor Ltd lifted its holdings in shares of Select Medical by 33.5% during the fourth quarter. Covestor Ltd now owns 4,955 shares of the health services provider's stock worth $93,000 after buying an additional 1,244 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Select Medical in the third quarter worth $210,000. Finally, Tidal Investments LLC bought a new position in Select Medical during the third quarter worth $286,000. Institutional investors own 89.48% of the company's stock.

Analysts Set New Price Targets

SEM has been the topic of several research reports. Royal Bank of Canada dropped their price objective on shares of Select Medical from $47.00 to $23.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Mizuho initiated coverage on Select Medical in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 target price for the company. StockNews.com raised shares of Select Medical from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Benchmark raised shares of Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a report on Monday, February 24th. Finally, UBS Group dropped their price target on shares of Select Medical from $40.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $26.80.

Insider Buying and Selling

In other news, CEO David S. Chernow sold 225,000 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were 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 $12,861,288. This represents a 23.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.60% of the stock is owned by corporate insiders.

Select Medical Price Performance

Shares of Select Medical stock traded down $4.02 during mid-day trading on Friday, reaching $14.22. 4,343,374 shares of the stock were exchanged, compared to its average volume of 848,976. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth 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 company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37. The firm has a 50-day simple moving average of $16.91 and a 200 day simple moving average of $21.83.

Select Medical (NYSE:SEM - Get Free Report) last posted its earnings results 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). 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 during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm posted $0.75 EPS. The business's revenue was down 24.4% on a year-over-year basis. On average, sell-side analysts predict that Select Medical Holdings Co. will post 1.17 EPS for the current fiscal year.

Select Medical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.76%. Select Medical's dividend payout ratio is 15.15%.

Select Medical declared that its Board of Directors has approved 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 purchase 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 shares are undervalued.

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.