Zacks Investment Research cut shares of Select Medical (NYSE:SEM) from a buy rating to a hold rating in a research note issued to investors on Wednesday, March 14th.
According to Zacks, “Select Medical Holdings Corporation, through its subsidiaries, operates specialty hospitals and outpatient rehabilitation clinics. The company’s Specialty Hospital segment offers long-term acute care hospital services and inpatient acute rehabilitative hospital care services. Its Outpatient Rehabilitation segment operates clinics and provides physical, occupational, and speech rehabilitation services. The company also provides medical rehabilitation services on a contract basis to nursing homes, hospitals, assisted living and senior care centers, schools, and work sites. The Mission of Select Medical Corporation is to ensure high-quality health care and cost-effective outcomes by providing specialty inpatient long-term acute care and rehabilitation, and outpatient rehabilitation services. The company is headquartered in Mechanicsburg, Pennsylvania. “
A number of other research analysts also recently commented on SEM. Wells Fargo initiated coverage on shares of Select Medical in a report on Tuesday, January 30th. They issued an outperform rating and a $26.00 price target for the company. Bank of America raised shares of Select Medical from an underperform rating to a neutral rating and set a $19.00 price target for the company in a report on Thursday, January 4th. ValuEngine raised shares of Select Medical from a hold rating to a buy rating in a research report on Friday, February 2nd. TheStreet raised shares of Select Medical from a c+ rating to a b- rating in a research report on Thursday, March 1st. Finally, JMP Securities raised shares of Select Medical from an underperform rating to a market perform rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $20.63.
Select Medical (NYSE:SEM) last released its quarterly earnings data on Wednesday, February 21st. The health services provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.19 by $0.12. Select Medical had a net margin of 3.99% and a return on equity of 14.27%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm earned $0.12 EPS. The business’s revenue was up 6.5% on a year-over-year basis. analysts anticipate that Select Medical will post 1.07 earnings per share for the current fiscal year.
In other news, insider Scott A. Romberger sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $18.46, for a total transaction of $92,300.00. Following the transaction, the insider now directly owns 167,811 shares of the company’s stock, valued at $3,097,791.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Martin F. Jackson sold 134,029 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $17.05, for a total transaction of $2,285,194.45. Following the transaction, the insider now directly owns 1,717,944 shares in the company, valued at $29,290,945.20. The disclosure for this sale can be found here. Company insiders own 19.86% of the company’s stock.
Several large investors have recently modified their holdings of the company. Elkfork Partners LLC bought a new position in shares of Select Medical during the fourth quarter valued at approximately $181,000. Xact Kapitalforvaltning AB bought a new position in shares of Select Medical during the fourth quarter valued at approximately $223,000. Macquarie Group Ltd. bought a new position in shares of Select Medical during the third quarter valued at approximately $265,000. Sawgrass Asset Management LLC bought a new position in shares of Select Medical during the fourth quarter valued at approximately $338,000. Finally, Invictus RG boosted its stake in Select Medical by 433.9% in the third quarter. Invictus RG now owns 18,301 shares of the health services provider’s stock valued at $351,000 after acquiring an additional 14,873 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
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About Select Medical
Select Medical Holdings Corporation, through its subsidiary, Select Medical Corporation, operates acute care hospitals (LTCHs), inpatient rehabilitation facilities (IRFs), outpatient rehabilitation clinics, and occupational medicine centers in the United States. The company operates through four segments: Long Term Acute Care, Inpatient Rehabilitation, Outpatient Rehabilitation, and Concentra.
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