Select Medical Holdings Corporation (NYSE:SEM) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its stake in Select Medical Holdings Corporation (NYSE:SEM) by 10.0% in the first quarter, according to the company in its most recent 13F filing 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 quarter. Cerity Partners LLC owned about 0.07% of Select Medical worth $1,568,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake in Select Medical by 151.0% in the 1st quarter. SG Americas Securities LLC now owns 37,684 shares of the health services provider’s stock worth $629,000 after purchasing an additional 22,671 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Select Medical by 47.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,450 shares of the health services provider’s stock worth $403,000 after purchasing an additional 7,871 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Select Medical in the 1st quarter worth about $416,000. GAMMA Investing LLC grew its stake in Select Medical by 217.4% during the 1st quarter. GAMMA Investing LLC now owns 6,501 shares of the health services provider’s stock valued at $109,000 after acquiring an additional 4,453 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in Select Medical during the 1st quarter valued at about $460,000. 89.48% of the stock is owned by institutional investors and hedge funds.

Select Medical Trading Up 0.9%

NYSE:SEM opened at $14.51 on Tuesday. Select Medical Holdings Corporation has a 12 month low of $14.03 and a 12 month high of $40.98. The firm has a fifty day simple moving average of $14.98 and a 200-day simple moving average of $16.73. 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 company has a market capitalization of $1.86 billion, a P/E ratio of 10.82, a PEG ratio of 0.76 and a beta of 1.32.

Select Medical (NYSE:SEM) last posted its earnings results 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 net margin of 2.81% and a return on equity of 11.04%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was down 24.4% compared to the same quarter last year. On average, equities research analysts anticipate that Select Medical Holdings Corporation will post 1.17 earnings per share for the current year.

Select Medical Announces Dividend

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

Select Medical announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the health services provider to purchase up to 42.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Mizuho initiated coverage on Select Medical in a report on Wednesday, April 16th. They set an “outperform” rating and a $25.00 target price 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 research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Insider Buying and Selling

In other news, CEO David S. Chernow sold 225,000 shares of the firm’s stock in a transaction dated 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 owned 714,516 shares in the company, valued at approximately $12,861,288. This trade represents a 23.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was purchased at an average price of $15.02 per share, with a total value of $315,420.00. Following the completion of the acquisition, the director owned 65,089 shares of the company’s stock, valued at approximately $977,636.78. This trade represents a 47.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.60% of the stock is currently owned by insiders.

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.