State of Alaska Department of Revenue Lowers Stock Holdings in Select Medical Holdings Corporation (NYSE:SEM)

State of Alaska Department of Revenue trimmed its holdings in shares of Select Medical Holdings Corporation (NYSE:SEM) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 57,894 shares of the health services provider’s stock after selling 1,487 shares during the period. State of Alaska Department of Revenue’s holdings in Select Medical were worth $966,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. LPL Financial LLC lifted its holdings in shares of Select Medical by 2.0% during the fourth quarter. LPL Financial LLC now owns 31,441 shares of the health services provider’s stock valued at $593,000 after purchasing an additional 619 shares during the last quarter. Vista Finance LLC lifted its holdings in shares of Select Medical by 7.0% during the first quarter. Vista Finance LLC now owns 10,969 shares of the health services provider’s stock valued at $183,000 after purchasing an additional 716 shares during the last quarter. Net Worth Advisory Group lifted its holdings in shares of Select Medical by 6.4% during the first quarter. Net Worth Advisory Group now owns 14,045 shares of the health services provider’s stock valued at $235,000 after purchasing an additional 846 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Select Medical by 4.5% during the fourth quarter. Bank of Montreal Can now owns 20,030 shares of the health services provider’s stock valued at $378,000 after purchasing an additional 867 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Select Medical by 9.5% during the fourth quarter. Sterling Capital Management LLC now owns 11,304 shares of the health services provider’s stock valued at $213,000 after purchasing an additional 978 shares during the last quarter. 89.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho assumed coverage on shares of Select Medical in a report on Wednesday, April 16th. They issued an “outperform” rating and a $25.00 price objective for the company. Royal Bank Of Canada decreased their price objective on shares of Select Medical from $23.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Select Medical Price Performance

Shares of SEM opened at $15.01 on Friday. The firm has a market cap of $1.93 billion, a PE ratio of 11.20, a P/E/G ratio of 0.79 and a beta of 1.34. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.87. The firm has a fifty day simple moving average of $15.44 and a two-hundred day simple moving average of $17.29. Select Medical Holdings Corporation has a 1-year low of $14.03 and a 1-year high of $40.98.

Select Medical (NYSE:SEM) last announced its earnings results on Thursday, May 1st. The health services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Select Medical had a net margin of 2.81% and a return on equity of 11.04%. Select Medical’s quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, equities analysts anticipate that Select Medical Holdings Corporation will post 1.17 EPS for the current year.

Select Medical Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.0625 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.25 dividend on an annualized basis and a yield of 1.67%. Select Medical’s dividend payout ratio is presently 18.66%.

Select Medical declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the health services provider to buy up to 42.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Select Medical

In other Select Medical news, Director Parvinderjit S. Khanuja acquired 21,000 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was purchased at an average price of $15.02 per share, with a total value of $315,420.00. Following the transaction, the director now directly owns 65,089 shares in the company, valued at approximately $977,636.78. The trade was a 47.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Chernow sold 225,000 shares of the business’s stock in a transaction 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 approximately $12,861,288. The trade was a 23.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.60% of the company’s stock.

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.