Point72 Asia Singapore Pte. Ltd. Lowers Position in Select Medical Holdings Co. (NYSE:SEM)

Point72 Asia Singapore Pte. Ltd. decreased its stake in shares of Select Medical Holdings Co. (NYSE:SEM) by 54.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,764 shares of the health services provider’s stock after selling 4,542 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Select Medical were worth $71,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. American Century Companies Inc. lifted its position in shares of Select Medical by 1,309.5% during the 4th quarter. American Century Companies Inc. now owns 137,169 shares of the health services provider’s stock worth $2,586,000 after buying an additional 127,437 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Select Medical by 122.8% during the fourth quarter. Sanctuary Advisors LLC now owns 52,175 shares of the health services provider’s stock worth $1,035,000 after acquiring an additional 28,759 shares during the period. Sterling Capital Management LLC boosted its position in Select Medical by 9.5% in the fourth quarter. Sterling Capital Management LLC now owns 11,304 shares of the health services provider’s stock worth $213,000 after purchasing an additional 978 shares during the last quarter. Vanguard Group Inc. grew its stake in Select Medical by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 12,712,990 shares of the health services provider’s stock valued at $239,640,000 after purchasing an additional 131,228 shares during the period. Finally, Wedge Capital Management L L P NC raised its stake in shares of Select Medical by 66.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 118,049 shares of the health services provider’s stock worth $2,225,000 after purchasing an additional 46,925 shares during the period. Hedge funds and other institutional investors own 89.48% of the company’s stock.

Insider Buying and Selling at Select Medical

In other news, Director Parvinderjit S. Khanuja purchased 21,000 shares of the business’s stock in a transaction on Monday, May 5th. The stock was purchased at an average cost of $15.02 per share, with a total value of $315,420.00. Following the acquisition, the director now directly owns 65,089 shares in the company, valued at approximately $977,636.78. This trade represents a 47.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Chernow sold 225,000 shares of the business’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $18.00, for a total transaction of $4,050,000.00. Following the transaction, the chief executive officer now owns 714,516 shares of the company’s stock, valued at $12,861,288. This trade represents a 23.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.60% of the company’s stock.

Select Medical Price Performance

SEM opened at $15.36 on Monday. The firm has a 50-day moving average price of $16.32 and a 200-day moving average price of $20.49. Select Medical Holdings Co. has a twelve month low of $14.03 and a twelve month high of $40.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.64 and a beta of 1.40.

Select Medical (NYSE:SEM) last released its quarterly earnings data on Thursday, May 1st. The health services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). Select Medical had a return on equity of 14.04% and a net margin of 3.23%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was down 24.4% on a year-over-year basis. Equities analysts expect that Select Medical Holdings Co. will post 1.17 EPS for the current year.

Select Medical announced that its board has initiated a stock buyback plan on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the health services provider to buy up to 42.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Select Medical Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.25 annualized dividend and a yield of 1.63%. Select Medical’s dividend payout ratio is currently 18.66%.

Analyst Ratings Changes

Several brokerages have commented on SEM. Benchmark raised shares of Select Medical from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Monday, February 24th. Royal Bank of Canada lowered their price target on shares of Select Medical from $23.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Mizuho initiated coverage on Select Medical in a report on Wednesday, April 16th. They set an “outperform” rating and a $25.00 price objective for the company. Finally, StockNews.com raised Select Medical from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Select Medical Company Profile

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.