Wealthquest Corp Acquires Shares of 8,563 Select Medical Holdings Corporation (NYSE:SEM)

Wealthquest Corp acquired a new position in Select Medical Holdings Corporation (NYSE:SEM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,563 shares of the health services provider’s stock, valued at approximately $143,000.

Several other institutional investors have also recently made changes to their positions in SEM. Covestor Ltd lifted its stake 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 valued at $93,000 after purchasing an additional 1,244 shares during the period. GAMMA Investing LLC increased its holdings in Select Medical by 217.4% in the first quarter. GAMMA Investing LLC now owns 6,501 shares of the health services provider’s stock valued at $109,000 after buying an additional 4,453 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of 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 acquiring an additional 2,255 shares during the period. Quarry LP boosted its stake in shares of Select Medical by 963.0% during the 4th quarter. Quarry LP now owns 9,078 shares of the health services provider’s stock worth $171,000 after acquiring an additional 8,224 shares in the last quarter. Finally, HBK Investments L P acquired a new stake in shares of Select Medical during the 4th quarter valued at about $188,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.

Analyst Ratings Changes

SEM has been the topic of a number of recent analyst reports. Royal Bank Of Canada lowered their price target on Select Medical from $23.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Mizuho began coverage on Select Medical in a research note on Wednesday, April 16th. They set an “outperform” rating and a $25.00 target price for the company. One equities 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Select Medical Trading Down 15.0%

Shares of Select Medical stock opened at $12.57 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.87. Select Medical Holdings Corporation has a twelve month low of $12.34 and a twelve month high of $40.98. The firm has a market capitalization of $1.62 billion, a PE ratio of 11.86, a P/E/G ratio of 0.79 and a beta of 1.25. The firm’s 50-day moving average price is $14.84 and its 200 day moving average price is $16.48.

Select Medical (NYSE:SEM) last announced its earnings results on Thursday, July 31st. The health services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Select Medical had a return on equity of 8.76% and a net margin of 2.37%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. On average, sell-side analysts predict that Select Medical Holdings Corporation will post 1.17 EPS for the current fiscal year.

Select Medical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 2.0%. Select Medical’s dividend payout ratio is presently 23.58%.

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

Insider Activity

In other Select Medical news, Director Parvinderjit S. Khanuja purchased 21,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were purchased at an average cost of $15.02 per share, with a total value of $315,420.00. Following the completion of the purchase, the director owned 65,089 shares in the company, valued at approximately $977,636.78. This represents a 47.63% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 11.60% of the stock is 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.