Piermont Capital Management Inc. lessened its holdings in Select Medical Holdings Co. (NYSE:SEM) by 13.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,836 shares of the health services provider’s stock after selling 3,980 shares during the quarter. Piermont Capital Management Inc.’s holdings in Select Medical were worth $446,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Elkfork Partners LLC purchased a new stake in Select Medical in the fourth quarter worth about $181,000. Xact Kapitalforvaltning AB purchased a new stake in Select Medical in the fourth quarter worth about $223,000. SG Americas Securities LLC grew its holdings in Select Medical by 76.7% in the first quarter. SG Americas Securities LLC now owns 16,762 shares of the health services provider’s stock worth $289,000 after purchasing an additional 7,276 shares during the period. Stevens Capital Management LP purchased a new stake in Select Medical in the first quarter worth about $306,000. Finally, Sawgrass Asset Management LLC purchased a new stake in Select Medical in the fourth quarter worth about $338,000. Institutional investors and hedge funds own 75.72% of the company’s stock.
SEM has been the topic of a number of recent research reports. ValuEngine cut shares of Select Medical from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 7th. JMP Securities upgraded 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 report on Tuesday, February 27th. Zacks Investment Research cut shares of Select Medical from a “buy” rating to a “hold” rating in a report on Wednesday, March 14th. TheStreet upgraded shares of Select Medical from a “c+” rating to a “b-” rating in a research note on Thursday, March 1st. Finally, Robert W. Baird reiterated a “buy” rating and issued a $26.00 target price on shares of Select Medical in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $20.63.
In related news, Chairman Robert A. Ortenzio sold 100,276 shares of the stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $18.53, for a total transaction of $1,858,114.28. Following the transaction, the chairman now owns 7,225,885 shares in the company, valued at $133,895,649.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert G. Breighner, Jr. sold 3,428 shares of the stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $18.03, for a total transaction of $61,806.84. Following the transaction, the vice president now owns 31,589 shares in the company, valued at approximately $569,549.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 640,931 shares of company stock worth $11,901,380. 19.86% of the stock is owned by insiders.
Shares of NYSE SEM traded up $0.05 during midday trading on Thursday, hitting $18.50. The stock had a trading volume of 424,779 shares, compared to its average volume of 614,840. The company has a market cap of $2.51 billion, a PE ratio of 19.07, a P/E/G ratio of 1.27 and a beta of 1.31. Select Medical Holdings Co. has a 52 week low of $13.90 and a 52 week high of $19.77. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.66 and a current ratio of 1.66.
Select Medical (NYSE:SEM) last issued its earnings results on Thursday, May 3rd. The health services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Select Medical had a net margin of 4.23% and a return on equity of 15.19%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. analysts forecast that Select Medical Holdings Co. will post 1.05 earnings per share for the current fiscal year.
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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