Verition Fund Management LLC purchased a new position in Select Medical Holdings Co. (NYSE:SEM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,099 shares of the health services provider’s stock, valued at approximately $347,000.
Several other hedge funds also recently made changes to their positions in SEM. UBS Group AG grew its stake in shares of Select Medical by 2,189.3% in the first quarter. UBS Group AG now owns 7,738 shares of the health services provider’s stock worth $133,000 after acquiring an additional 7,400 shares during the period. Elkfork Partners LLC bought a new stake in Select Medical during the fourth quarter valued at approximately $181,000. Quantbot Technologies LP bought a new stake in Select Medical during the first quarter valued at approximately $215,000. Xact Kapitalforvaltning AB bought a new stake in Select Medical during the fourth quarter valued at approximately $223,000. Finally, Highland Capital Management LP bought a new stake in Select Medical during the first quarter valued at approximately $259,000. Hedge funds and other institutional investors own 75.69% of the company’s stock.
In other news, Chairman Robert A. Ortenzio sold 21,052 shares of the business’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $18.52, for a total value of $389,883.04. Following the transaction, the chairman now owns 6,789,748 shares of the company’s stock, valued at $125,746,132.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Robert A. Ortenzio sold 192,853 shares of the business’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $18.64, for a total transaction of $3,594,779.92. Following the completion of the transaction, the chairman now directly owns 6,986,249 shares in the company, valued at approximately $130,223,681.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 640,931 shares of company stock valued at $11,901,380. Company insiders own 19.86% of the company’s stock.
Shares of Select Medical opened at $17.80 on Thursday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market cap of $2.46 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.24 and a beta of 1.31. Select Medical Holdings Co. has a 12-month low of $14.80 and a 12-month high of $19.77.
Select Medical (NYSE:SEM) last posted its quarterly earnings results on Thursday, May 3rd. The health services provider reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Select Medical had a net margin of 4.23% and a return on equity of 15.19%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. equities research analysts anticipate that Select Medical Holdings Co. will post 1.05 EPS for the current year.
Several brokerages recently issued reports on SEM. ValuEngine lowered shares of Select Medical from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 7th. Zacks Investment Research upgraded shares of Select Medical from a “sell” rating to a “hold” rating in a research report on Friday, June 8th. Finally, TheStreet upgraded shares of Select Medical from a “c+” rating to a “b-” rating in a research report on Thursday, March 1st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $20.63.
Select Medical Company Profile
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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