Arizona State Retirement System Sells 912 Shares of Select Medical Holdings Co. (NYSE:SEM)

Posted by on Nov 1st, 2023

Arizona State Retirement System decreased its position in Select Medical Holdings Co. (NYSE:SEM – Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,363 shares of the health services provider’s stock after selling 912 shares during the quarter. Arizona State Retirement System’s holdings in Select Medical were worth $967,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SEM. Credit Suisse AG boosted its holdings in shares of Select Medical by 2.4% in the 1st quarter. Credit Suisse AG now owns 127,276 shares of the health services provider’s stock worth $3,290,000 after buying an additional 2,959 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Select Medical by 7.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,517,998 shares of the health services provider’s stock worth $48,363,000 after buying an additional 109,585 shares during the last quarter. Paralel Advisors LLC boosted its holdings in shares of Select Medical by 2.7% in the 1st quarter. Paralel Advisors LLC now owns 75,776 shares of the health services provider’s stock worth $1,959,000 after buying an additional 1,992 shares during the last quarter. Ziegler Capital Management LLC purchased a new position in shares of Select Medical in the 2nd quarter worth about $746,000. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of Select Medical by 33.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 93,381 shares of the health services provider’s stock worth $2,414,000 after buying an additional 23,473 shares during the last quarter. Institutional investors own 76.95% of the company’s stock.

Select Medical Trading Up 2.2 %

Shares of SEM opened at $22.74 on Wednesday. The business’s 50-day moving average price is $25.56 and its 200-day moving average price is $28.03. Select Medical Holdings Co. has a twelve month low of $18.86 and a twelve month high of $33.51. The stock has a market cap of $2.89 billion, a PE ratio of 14.21, a P/E/G ratio of 0.50 and a beta of 1.42. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.46.

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

Select Medical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, August 14th. Select Medical’s dividend payout ratio (DPR) is 31.25%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SEM. StockNews.com assumed coverage on shares of Select Medical in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Select Medical in a report on Thursday, July 20th. Finally, Credit Suisse Group upped their price objective on shares of Select Medical from $29.00 to $32.00 and gave the company a “neutral” rating in a 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’s stock. According to data from MarketBeat.com, Select Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

View Our Latest Research Report on SEM

Insider Buying and Selling

In related news, Chairman Robert A. Ortenzio sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $26.82, for a total value of $1,341,000.00. Following the transaction, the chairman now directly owns 7,039,668 shares in the company, valued at $188,803,895.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.14% of the stock is owned by company 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.

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Institutional Ownership by Quarter for Select Medical (NYSE:SEM)

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