Shell Asset Management Co. Decreases Stock Holdings in Select Medical Holdings Co. (NYSE:SEM)

Posted by Defense World Staff on Mar 2nd, 2023

Shell Asset Management Co. cut its position in Select Medical Holdings Co. (NYSE:SEM – Get Rating) by 11.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,055 shares of the health services provider’s stock after selling 669 shares during the quarter. Shell Asset Management Co.’s holdings in Select Medical were worth $112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SEM. Wipfli Financial Advisors LLC acquired a new stake in shares of Select Medical during the third quarter worth $44,000. UBS Group AG grew its position in Select Medical by 252.4% in the 1st quarter. UBS Group AG now owns 2,844 shares of the health services provider’s stock valued at $69,000 after buying an additional 2,037 shares in the last quarter. Lazard Asset Management LLC grew its position in Select Medical by 58.0% in the 2nd quarter. Lazard Asset Management LLC now owns 3,332 shares of the health services provider’s stock valued at $78,000 after buying an additional 1,223 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Select Medical in the 1st quarter valued at about $132,000. Finally, Nisa Investment Advisors LLC grew its position in Select Medical by 23.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,630 shares of the health services provider’s stock valued at $133,000 after buying an additional 1,080 shares in the last quarter. 78.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SEM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Select Medical from $44.00 to $35.00 in a report on Monday, November 7th. TheStreet cut shares of Select Medical from a “b” rating to a “c+” rating in a report on Wednesday, November 16th. Royal Bank of Canada decreased their target price on shares of Select Medical from $36.00 to $32.00 and set an “outperform” rating for the company in a report on Monday, November 7th. Benchmark reissued a “buy” rating and issued a $39.00 price target on shares of Select Medical in a research report on Monday. Finally, Credit Suisse Group increased their price target on shares of Select Medical from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.75.

Insiders Place Their Bets

In related news, CEO David S. Chernow sold 139,550 shares of Select Medical stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $27.30, for a total value of $3,809,715.00. Following the completion of the transaction, the chief executive officer now directly owns 839,550 shares of the company’s stock, valued at $22,919,715. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.96% of the company’s stock.

Select Medical Price Performance

Shares of SEM opened at $27.03 on Thursday. The firm has a market cap of $3.44 billion, a PE ratio of 21.98, a PEG ratio of 0.88 and a beta of 1.38. The firm’s 50 day moving average price is $27.76 and its 200 day moving average price is $25.67. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.10 and a current ratio of 1.10. Select Medical Holdings Co. has a twelve month low of $18.86 and a twelve month high of $30.78.

Select Medical (NYSE:SEM – Get Rating) last announced its quarterly earnings data on Friday, February 24th. The health services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.11). The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Select Medical had a return on equity of 11.86% and a net margin of 2.51%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, research analysts expect that Select Medical Holdings Co. will post 2.07 EPS for the current fiscal year.

Select Medical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, March 3rd will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, March 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 1.85%. Select Medical’s dividend payout ratio is currently 40.65%.

Select Medical Profile

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Select Medical Holdings Corp. engages in the provision of medical rehabilitation services. It operates through the following segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation and Concentra. The Critical Illness Recovery Hospital segment serves patients with debilitating injuries and rehabilitation needs that cannot be adequately cared in a medically intensive environment, such as a skilled nursing facility.