Principal Financial Group Inc. Trims Position in Select Medical Holdings Corporation $SEM

Principal Financial Group Inc. lowered its holdings in Select Medical Holdings Corporation (NYSE:SEM) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,434,986 shares of the health services provider’s stock after selling 489,817 shares during the period. Principal Financial Group Inc. owned 1.96% of Select Medical worth $31,265,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SEM. 8 Knots Management LLC purchased a new stake in Select Medical in the 2nd quarter valued at about $26,568,000. Jane Street Group LLC purchased a new stake in Select Medical in the first quarter valued at approximately $4,635,000. CSM Advisors LLC acquired a new position in Select Medical during the second quarter worth approximately $3,439,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Select Medical during the second quarter worth approximately $3,330,000. Finally, Bank of America Corp DE boosted its holdings in shares of Select Medical by 10.9% in the 2nd quarter. Bank of America Corp DE now owns 1,618,662 shares of the health services provider’s stock valued at $24,571,000 after purchasing an additional 158,768 shares during the last quarter. 89.48% of the stock is currently owned by hedge funds and other institutional investors.

Select Medical Stock Up 1.5%

NYSE SEM opened at $15.70 on Friday. The stock has a market cap of $1.94 billion, a PE ratio of 18.26, a P/E/G ratio of 0.54 and a beta of 1.25. The business has a 50 day moving average price of $15.12 and a two-hundred day moving average price of $13.92. Select Medical Holdings Corporation has a fifty-two week low of $11.65 and a fifty-two week high of $19.90. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.87.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SEM shares. Benchmark reaffirmed a “buy” rating on shares of Select Medical in a research report on Monday, October 27th. Wall Street Zen upgraded Select Medical from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Mizuho set a $17.00 target price on Select Medical in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Select Medical in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

Select Medical Profile

Select Medical is a leading provider of specialized healthcare services in the United States, operating through two primary business segments: Hospital Division and Outpatient Rehabilitation Division. The Hospital Division offers long-term acute care (LTAC) hospitals and inpatient rehabilitation facilities (IRFs) that serve patients recovering from complex illnesses, trauma or surgery. The Outpatient Rehabilitation Division delivers physical, occupational and speech therapy services through a network of clinic locations and home-based care programs.

Headquartered in Mechanicsburg, Pennsylvania, Select Medical was founded in 1996 and has grown through strategic partnerships, joint ventures and acquisitions.