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

Cerity Partners LLC lowered its holdings in Select Medical Holdings Corporation (NYSE:SEM) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in shares of Select Medical by 33.5% in the 4th quarter. Covestor Ltd now owns 4,955 shares of the health services provider’s stock worth $93,000 after acquiring an additional 1,244 shares during the last quarter. GAMMA Investing LLC raised its holdings in Select Medical by 217.4% in the 1st quarter. GAMMA Investing LLC now owns 6,501 shares of the health services provider’s stock worth $109,000 after purchasing an additional 4,453 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Select Medical by 47.8% in the 4th 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. Wealthquest Corp purchased a new stake in shares of Select Medical in the 1st quarter worth about $143,000. Finally, Quarry LP grew its position in shares of Select Medical by 963.0% in the 4th quarter. Quarry LP now owns 9,078 shares of the health services provider’s stock worth $171,000 after buying an additional 8,224 shares during the period. Hedge funds and other institutional investors own 89.48% of the company’s stock.

Insider Activity at Select Medical

In related news, CEO David S. Chernow sold 225,000 shares of Select Medical stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $18.00, for a total value of $4,050,000.00. Following the sale, the chief executive officer directly owned 714,516 shares in the company, valued at $12,861,288. The trade was a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Parvinderjit S. Khanuja bought 21,000 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $15.02 per share, for a total transaction of $315,420.00. Following the completion of the transaction, the director owned 65,089 shares of the company’s stock, valued at $977,636.78. This represents a 47.63% increase in their position. The disclosure for this purchase can be found here. Company insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Select Medical Stock Up 0.9%

NYSE SEM opened at $14.51 on Tuesday. Select Medical Holdings Corporation has a one year low of $14.03 and a one year high of $40.98. The company has a market cap 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. The business has a fifty day moving average price of $14.98 and a 200 day moving average price of $16.73. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.16 and a current ratio of 1.16.

Select Medical (NYSE:SEM) last released its quarterly 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). Select Medical had a return on equity of 11.04% and a net margin of 2.81%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was down 24.4% compared to the same quarter last year. Research analysts anticipate that Select Medical Holdings Corporation will post 1.17 EPS for the current fiscal year.

Select Medical declared that its board has authorized a stock buyback program 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 programs are usually a sign that the company’s management believes its stock is undervalued.

Select Medical Announces Dividend

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 $0.0625 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.25 annualized dividend and a dividend yield of 1.72%. Select Medical’s dividend payout ratio (DPR) is currently 18.66%.

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