Maryland State Retirement & Pension System Reduces Holdings in Select Medical Holdings Co. (NYSE:SEM)

Posted by Defense World Staff on Sep 23rd, 2023

Maryland State Retirement & Pension System lowered its position in shares of Select Medical Holdings Co. (NYSE:SEM – Free Report) by 3.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,613 shares of the health services provider’s stock after selling 1,319 shares during the period. Maryland State Retirement & Pension System’s holdings in Select Medical were worth $1,294,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Belpointe Asset Management LLC bought a new stake in shares of Select Medical in the fourth quarter worth $25,000. West Branch Capital LLC bought a new stake in Select Medical during the first quarter valued at $39,000. Tower Research Capital LLC TRC increased its stake in Select Medical by 288.3% during the first quarter. Tower Research Capital LLC TRC now owns 2,516 shares of the health services provider’s stock valued at $65,000 after purchasing an additional 1,868 shares during the last quarter. Strs Ohio increased its stake in Select Medical by 80.0% during the first quarter. Strs Ohio now owns 2,700 shares of the health services provider’s stock valued at $69,000 after purchasing an additional 1,200 shares during the last quarter. Finally, UBS Group AG increased its stake in Select Medical by 252.4% during the first quarter. UBS Group AG now owns 2,844 shares of the health services provider’s stock valued at $69,000 after purchasing an additional 2,037 shares during the last quarter. Hedge funds and other institutional investors own 76.95% of the company’s stock.

Select Medical Stock Performance

NYSE:SEM opened at $25.99 on Friday. Select Medical Holdings Co. has a twelve month low of $18.86 and a twelve month high of $33.51. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.46. The company has a 50-day moving average of $28.68 and a 200-day moving average of $28.36. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 0.57 and a beta of 1.40.

Select Medical (NYSE:SEM – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The health services provider reported $0.61 EPS for the quarter, meeting analysts’ consensus estimates of $0.61. Select Medical had a net margin of 3.14% and a return on equity of 14.52%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts forecast that Select Medical Holdings Co. will post 1.95 earnings per share for the current fiscal year.

Select Medical Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Monday, August 14th. Select Medical’s dividend payout ratio is presently 31.25%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $38.00 price target on shares of Select Medical in a report on Thursday, July 20th. StockNews.com assumed coverage on shares of Select Medical in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Credit Suisse Group increased their target price on shares of Select Medical from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Check Out Our Latest Analysis on SEM

Insider Buying and Selling at Select Medical

In other Select Medical news, Chairman Robert A. Ortenzio sold 100,000 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $32.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the chairman now directly owns 1,279,000 shares of the company’s stock, valued at $40,928,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Robert A. Ortenzio sold 50,000 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $30.36, for a total value of $1,518,000.00. Following the completion of the sale, the chairman now directly owns 6,889,668 shares of the company’s stock, valued at $209,170,320.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert A. Ortenzio sold 100,000 shares of the stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $32.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the chairman now directly owns 1,279,000 shares of the company’s stock, valued at $40,928,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,000 shares of company stock valued at $7,535,000. 19.14% of the stock is currently owned by corporate insiders.

About Select Medical

(Free Report)

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 through four segments: The Critical Illness Recovery Hospital, The Rehabilitation Hospital, The Outpatient Rehabilitation, and The Concentra.