Select Medical (NYSE:SEM) Upgraded to “Neutral” by Bank of America

Select Medical (NYSE:SEM) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “neutral” rating in a note issued to investors on Thursday, January 4th, Marketbeat Ratings reports. The brokerage presently has a $19.00 price objective on the health services provider’s stock. Bank of America’s target price points to a potential upside of 7.04% from the stock’s previous close.

SEM has been the topic of a number of other research reports. Zacks Investment Research cut shares of Select Medical from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Robert W. Baird set a $25.00 target price on shares of Select Medical and gave the stock a “buy” rating in a report on Monday, October 23rd. Royal Bank of Canada restated a “buy” rating and issued a $19.00 target price on shares of Select Medical in a report on Friday, October 13th. ValuEngine upgraded shares of Select Medical from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Deutsche Bank restated a “buy” rating and issued a $22.00 target price on shares of Select Medical in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Select Medical currently has a consensus rating of “Hold” and an average price target of $19.43.

Shares of Select Medical (NYSE:SEM) traded up $0.50 on Thursday, reaching $17.75. 345,400 shares of the company’s stock were exchanged, compared to its average volume of 839,862. The company has a market capitalization of $2,380.00, a PE ratio of 24.65, a P/E/G ratio of 1.18 and a beta of 1.34. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 3.36. Select Medical has a twelve month low of $12.00 and a twelve month high of $19.77.

Select Medical (NYSE:SEM) last released its quarterly earnings data on Thursday, November 2nd. The health services provider reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Select Medical had a return on equity of 11.44% and a net margin of 2.21%. Select Medical’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS. research analysts forecast that Select Medical will post 0.86 EPS for the current fiscal year.

In other news, insider Martin F. Jackson sold 156,603 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $17.06, for a total transaction of $2,671,647.18. Following the completion of the sale, the insider now owns 1,790,601 shares in the company, valued at approximately $30,547,653.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the insider now owns 1,717,944 shares of the company’s stock, valued at approximately $29,290,945.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 314,455 shares of company stock valued at $5,403,144. Company insiders own 19.93% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEM. Russell Investments Group Ltd. boosted its holdings in Select Medical by 121.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 85,912 shares of the health services provider’s stock worth $1,319,000 after buying an additional 47,131 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Select Medical by 9.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 966,984 shares of the health services provider’s stock worth $14,844,000 after buying an additional 85,839 shares during the period. Legal & General Group Plc boosted its holdings in Select Medical by 7.7% in the 2nd quarter. Legal & General Group Plc now owns 297,460 shares of the health services provider’s stock worth $4,568,000 after buying an additional 21,200 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Select Medical by 60.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 44,836 shares of the health services provider’s stock worth $688,000 after buying an additional 16,973 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Select Medical by 2.2% in the 2nd quarter. Principal Financial Group Inc. now owns 883,056 shares of the health services provider’s stock worth $13,555,000 after buying an additional 19,312 shares during the period. 77.89% of the stock is owned by institutional investors.

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About Select Medical

Select Medical Holdings Corporation is an operator of specialty hospitals, outpatient rehabilitation clinics and occupational medicine centers in the United States. The Company’s segments include specialty hospitals, outpatient rehabilitation, Concentra and Other. The specialty hospitals segment consists of hospitals designed to serve the needs of long term acute patients and hospitals designed to serve patients that require intensive medical rehabilitation care.

Analyst Recommendations for Select Medical (NYSE:SEM)

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