Cerity Partners LLC Sells 10,395 Shares of Select Medical Holdings Corporation (NYSE:SEM)

Cerity Partners LLC trimmed its position in shares of Select Medical Holdings Corporation (NYSE:SEM) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,886 shares of the health services provider’s stock after selling 10,395 shares during the period. Cerity Partners LLC owned approximately 0.07% of Select Medical worth $1,568,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC lifted its stake in shares of Select Medical by 16.8% in the first quarter. Linden Thomas Advisory Services LLC now owns 29,867 shares of the health services provider’s stock valued at $499,000 after buying an additional 4,291 shares during the period. M&T Bank Corp lifted its stake in shares of Select Medical by 5.8% in the first quarter. M&T Bank Corp now owns 36,629 shares of the health services provider’s stock valued at $612,000 after buying an additional 1,996 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Select Medical by 4.0% in the first quarter. Envestnet Asset Management Inc. now owns 380,809 shares of the health services provider’s stock valued at $6,360,000 after buying an additional 14,776 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Select Medical by 3.1% in the first quarter. Principal Financial Group Inc. now owns 2,476,816 shares of the health services provider’s stock valued at $41,363,000 after buying an additional 73,308 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Select Medical in the first quarter valued at about $269,000. 89.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SEM. Mizuho started coverage on Select Medical in a report on Wednesday, April 16th. They set an “outperform” rating and a $25.00 price objective on the stock. Royal Bank Of Canada cut their price target on Select Medical from $23.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Insider Transactions at Select Medical

In other news, Director Parvinderjit S. Khanuja acquired 21,000 shares of Select Medical stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average cost of $15.02 per share, with a total value of $315,420.00. Following the transaction, the director directly owned 65,089 shares of the company’s stock, valued at $977,636.78. This trade represents a 47.63% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, 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 directly owned 714,516 shares in the company, valued at $12,861,288. This trade represents a 23.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by company insiders.

Select Medical Price Performance

Shares of NYSE SEM opened at $14.51 on Tuesday. Select Medical Holdings Corporation has a 1 year low of $14.03 and a 1 year high of $40.98. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.16 and a quick ratio of 1.16. The company’s 50-day moving average is $14.98 and its 200 day moving average is $16.73. The stock has a market capitalization of $1.86 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.76 and a beta of 1.32.

Select Medical (NYSE:SEM) last issued its quarterly earnings data 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). The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.40 billion. Select Medical had a net margin of 2.81% and a return on equity of 11.04%. The company’s revenue was down 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. On average, sell-side analysts expect that Select Medical Holdings Corporation will post 1.17 earnings per share for the current year.

Select Medical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Thursday, May 15th. Select Medical’s payout ratio is 18.66%.

Select Medical declared that its board has initiated a share buyback plan on Thursday, May 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the health services provider to purchase up to 42.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.