Select Medical (NYSE:SEM) Shares Down 6.2%

Select Medical Holdings Co. (NYSE:SEM)’s stock price fell 6.2% on Friday . The company traded as low as $21.56 and last traded at $21.57. 202,588 shares were traded during mid-day trading, a decline of 62% from the average session volume of 531,739 shares. The stock had previously closed at $23.00.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SEM. StockNews.com began coverage on shares of Select Medical in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $38.00 price target on shares of Select Medical in a research report on Thursday, July 20th. Finally, Credit Suisse Group raised their target price on shares of Select Medical from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.50.

Select Medical Stock Down 3.0 %

The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 0.50 and a beta of 1.44. The stock’s fifty day moving average price is $25.23 and its 200-day moving average price is $27.92. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.46.

Select Medical (NYSE:SEM) last issued its earnings results on Thursday, August 3rd. The health services provider reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. Select Medical had a net margin of 3.14% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share. On average, sell-side analysts predict that Select Medical Holdings Co. will post 1.95 earnings per share for the current fiscal year.

Select Medical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 15th will be issued a $0.125 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.50 annualized dividend and a dividend yield of 2.24%. Select Medical’s dividend payout ratio is currently 28.25%.

Insider Buying and Selling at Select Medical

In other Select Medical news, Chairman Robert A. Ortenzio sold 50,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $26.82, for a total value of $1,341,000.00. Following the transaction, the chairman now directly owns 7,039,668 shares in the company, valued at $188,803,895.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 19.14% of the company’s stock.

Hedge Funds Weigh In On Select Medical

Several institutional investors and hedge funds have recently modified their holdings of SEM. Price T Rowe Associates Inc. MD increased its holdings in shares of Select Medical by 6.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,617,462 shares of the health services provider’s stock valued at $511,932,000 after purchasing an additional 1,170,674 shares during the last quarter. Norges Bank bought a new stake in shares of Select Medical in the fourth quarter valued at about $24,027,000. BlackRock Inc. boosted its position in shares of Select Medical by 4.3% in the first quarter. BlackRock Inc. now owns 18,575,139 shares of the health services provider’s stock valued at $445,617,000 after acquiring an additional 762,219 shares during the period. Hood River Capital Management LLC boosted its position in shares of Select Medical by 17.3% in the first quarter. Hood River Capital Management LLC now owns 2,693,137 shares of the health services provider’s stock valued at $69,618,000 after acquiring an additional 396,394 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Select Medical by 30.9% in the first quarter. Victory Capital Management Inc. now owns 1,408,413 shares of the health services provider’s stock valued at $36,407,000 after acquiring an additional 332,813 shares during the period. 76.95% of the stock is currently owned by institutional investors and hedge funds.

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 through four segments: The Critical Illness Recovery Hospital, The Rehabilitation Hospital, The Outpatient Rehabilitation, and The Concentra.