Royal Bank of Canada Cuts Select Medical (NYSE:SEM) Price Target to $23.00

Select Medical (NYSE:SEM) had its price target trimmed by Royal Bank of Canada from $47.00 to $23.00 in a report released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the health services provider’s stock.

A number of other equities analysts have also recently issued reports on the company. UBS Group cut their target price on Select Medical from $40.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Benchmark raised Select Medical from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Monday. Finally, StockNews.com raised Select Medical from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Select Medical Stock Performance

Select Medical stock opened at $18.50 on Monday. The business has a 50 day moving average of $19.07 and a 200-day moving average of $27.71. Select Medical has a 1 year low of $16.20 and a 1 year high of $40.98. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $2.39 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.64 and a beta of 1.45.

Select Medical (NYSE:SEM) last announced its earnings results on Thursday, February 20th. The health services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.11). Select Medical had a net margin of 3.23% and a return on equity of 14.04%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.50 billion. On average, equities research analysts predict that Select Medical will post 1.17 earnings per share for the current year.

Select Medical Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Monday, March 3rd will be issued a dividend of $0.0625 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.35%. Select Medical’s dividend payout ratio is 15.15%.

Insider Activity at Select Medical

In other Select Medical news, VP Robert G. Breighner, Jr. sold 4,989 shares of Select Medical stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $19.95, for a total value of $99,530.55. Following the transaction, the vice president now directly owns 30,356 shares of the company’s stock, valued at $605,602.20. The trade was a 14.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Select Medical

Several hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its position in shares of Select Medical by 726.3% during the fourth quarter. Mackenzie Financial Corp now owns 66,497 shares of the health services provider’s stock valued at $1,253,000 after purchasing an additional 58,449 shares in the last quarter. Neo Ivy Capital Management boosted its position in shares of Select Medical by 342,890.0% during the fourth quarter. Neo Ivy Capital Management now owns 34,299 shares of the health services provider’s stock valued at $646,000 after purchasing an additional 34,289 shares in the last quarter. PharVision Advisers LLC bought a new stake in Select Medical in the fourth quarter worth $685,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Select Medical by 18.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,639 shares of the health services provider’s stock worth $5,912,000 after acquiring an additional 49,281 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Select Medical by 460.3% in the fourth quarter. Squarepoint Ops LLC now owns 242,756 shares of the health services provider’s stock worth $4,576,000 after acquiring an additional 199,429 shares in the last quarter. 89.48% of the stock is owned by hedge funds and other institutional investors.

About Select Medical

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 in four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.