Nuveen Asset Management LLC Has $15.58 Million Position in Select Medical Holdings Co. (NYSE:SEM)

Nuveen Asset Management LLC lessened its holdings in Select Medical Holdings Co. (NYSE:SEM) by 24.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 826,387 shares of the health services provider’s stock after selling 273,762 shares during the period. Nuveen Asset Management LLC owned approximately 0.64% of Select Medical worth $15,577,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SEM. Smartleaf Asset Management LLC raised its position in 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 worth $43,000 after purchasing an additional 1,473 shares in the last quarter. Covestor Ltd raised its position in Select Medical by 33.5% in the fourth quarter. Covestor Ltd now owns 4,955 shares of the health services provider’s stock worth $93,000 after purchasing an additional 1,244 shares in the last quarter. Lazard Asset Management LLC raised its position in Select Medical by 47.8% in the fourth quarter. Lazard Asset Management LLC now owns 6,974 shares of the health services provider’s stock worth $130,000 after purchasing an additional 2,255 shares in the last quarter. Quarry LP raised its position in Select Medical by 963.0% in the fourth quarter. Quarry LP now owns 9,078 shares of the health services provider’s stock worth $171,000 after purchasing an additional 8,224 shares in the last quarter. Finally, HBK Investments L P acquired a new position in Select Medical in the fourth quarter worth about $188,000. Institutional investors and hedge funds own 89.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SEM shares. Royal Bank of Canada dropped their price target on shares of Select Medical from $23.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Mizuho initiated coverage on shares of Select Medical in a report on Wednesday, April 16th. They set an “outperform” rating and a $25.00 price objective for the company. Wall Street Zen raised shares of Select Medical from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Finally, 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Select Medical Trading Down 0.8%

SEM opened at $14.38 on Monday. The company has a current ratio of 1.13, a quick 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. The firm’s fifty day simple moving average is $16.11 and its 200 day simple moving average is $19.62. The stock has a market capitalization of $1.85 billion, a P/E ratio of 8.72, a P/E/G ratio of 0.64 and a beta of 1.40.

Select Medical (NYSE:SEM) last released 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 firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was down 24.4% on a year-over-year basis. As a group, research analysts anticipate that Select Medical Holdings Co. will post 1.17 EPS for the current fiscal year.

Select Medical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, May 15th. Select Medical’s dividend payout ratio (DPR) is presently 18.66%.

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

Insider Transactions at Select Medical

In related news, Director Parvinderjit S. Khanuja acquired 21,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average price of $15.02 per share, with a total value of $315,420.00. Following the purchase, the director now directly owns 65,089 shares in the company, valued at approximately $977,636.78. This trade represents a 47.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 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. The trade was a 23.95% decrease in their position. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by insiders.

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.