Select Medical (NYSE:SEM) Shares Gap Up to $27.98

Posted by Defense World Staff on Apr 23rd, 2023

Select Medical Holdings Co. (NYSE:SEM – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $27.98, but opened at $28.59. Select Medical shares last traded at $28.75, with a volume of 69,325 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com assumed coverage on Select Medical in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Credit Suisse Group boosted their price objective on Select Medical from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, February 27th. Finally, Benchmark reissued a “buy” rating and set a $39.00 price objective on shares of Select Medical in a research note on Monday, February 27th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Select Medical has a consensus rating of “Moderate Buy” and a consensus price target of $33.75.

Select Medical Trading Up 3.6 %

The company has a 50 day moving average price of $27.03 and a 200 day moving average price of $25.89. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 0.96 and a beta of 1.38. 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 (NYSE:SEM – Get Rating) last posted 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 firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Select Medical had a net margin of 2.51% and a return on equity of 11.86%. Select Medical’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. On average, research analysts expect that Select Medical Holdings Co. will post 1.93 earnings per share for the current year.

Select Medical Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Friday, March 3rd were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.50 annualized dividend and a yield of 1.72%. Select Medical’s dividend payout ratio (DPR) is 40.65%.

Insiders Place Their Bets

In other Select Medical news, CEO David S. Chernow sold 139,550 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $27.30, for a total transaction of $3,809,715.00. Following the sale, the chief executive officer now owns 839,550 shares in the company, valued at approximately $22,919,715. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 19.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Select Medical by 6.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,617,462 shares of the health services provider’s stock valued at $511,932,000 after acquiring an additional 1,170,674 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Select Medical by 4.3% in the 1st quarter. BlackRock Inc. now owns 18,575,139 shares of the health services provider’s stock valued at $445,617,000 after acquiring an additional 762,219 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Select Medical by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 12,859,730 shares of the health services provider’s stock valued at $308,505,000 after acquiring an additional 72,327 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Select Medical by 3.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,609,861 shares of the health services provider’s stock valued at $164,123,000 after acquiring an additional 230,889 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Select Medical by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,708,986 shares of the health services provider’s stock valued at $116,924,000 after acquiring an additional 70,058 shares during the last quarter. Hedge funds and other institutional investors own 78.75% of the company’s stock.

Select Medical Company Profile

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Select Medical Holdings Corp. engages in the provision of medical rehabilitation services. It operates through the following business 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.