T. Rowe Price Investment Management Inc. Sells 1,856,271 Shares of Select Medical Holdings Co. (NYSE:SEM)

T. Rowe Price Investment Management Inc. lessened its stake in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 29.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,419,139 shares of the health services provider's stock after selling 1,856,271 shares during the period. T. Rowe Price Investment Management Inc. owned about 3.41% of Select Medical worth $83,301,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in shares of Select Medical by 179.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,296 shares of the health services provider's stock worth $43,000 after purchasing an additional 1,473 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Select Medical during the third quarter worth about $81,000. Covestor Ltd increased its stake in shares of Select Medical by 33.5% in the fourth quarter. Covestor Ltd now owns 4,955 shares of the health services provider's stock valued at $93,000 after buying an additional 1,244 shares during the period. Cibc World Markets Corp bought a new stake in Select Medical in the fourth quarter valued at approximately $191,000. Finally, Vista Finance LLC bought a new stake in Select Medical in the fourth quarter valued at approximately $193,000. Institutional investors own 89.48% of the company's stock.

Select Medical Stock Down 0.9 %

Shares of SEM stock traded down $0.16 during midday trading on Thursday, reaching $18.08. 405,053 shares of the stock were exchanged, compared to its average volume of 833,775. 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 market cap of $2.33 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 0.64 and a beta of 1.38. The company's 50 day moving average is $17.02 and its two-hundred day moving average is $22.07. Select Medical Holdings Co. has a 1 year low of $14.99 and a 1 year high of $40.98.

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

Select Medical Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, March 3rd were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, March 3rd. Select Medical's payout ratio is currently 15.15%.

Insider Activity

In related news, CEO David S. Chernow sold 225,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 714,516 shares in the company, valued at approximately $12,861,288. This trade represents a 23.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 11.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.