1,567,964 Shares in Select Medical Holdings Co. (NYSE:SEM) Purchased by Norges Bank

Norges Bank bought a new position in Select Medical Holdings Co. (NYSE:SEM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,567,964 shares of the health services provider's stock, valued at approximately $29,556,000. Norges Bank owned 1.21% of Select Medical at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SEM. JPMorgan Chase & Co. grew its holdings in shares of Select Medical by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 416,299 shares of the health services provider's stock worth $14,516,000 after acquiring an additional 36,905 shares during the period. Argent Capital Management LLC grew its stake in shares of Select Medical by 79.8% during the 4th quarter. Argent Capital Management LLC now owns 55,144 shares of the health services provider's stock valued at $1,039,000 after purchasing an additional 24,471 shares during the period. Geode Capital Management LLC increased its position in shares of Select Medical by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,442,321 shares of the health services provider's stock valued at $85,180,000 after purchasing an additional 46,880 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Select Medical by 1,309.5% in the fourth 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 during the last quarter. Finally, Sanctuary Advisors LLC grew its position 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 valued at $1,035,000 after buying an additional 28,759 shares during the period. 89.48% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SEM. Royal Bank of Canada dropped their price target on shares of Select Medical from $47.00 to $23.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. UBS Group cut their price target on Select Medical from $40.00 to $21.00 and set a "neutral" rating for the company 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 objective on the stock in a research note on Monday, February 24th. Finally, StockNews.com upgraded Select Medical from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. One research 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $27.25.

Select Medical Price Performance

SEM stock traded up $0.02 during trading on Friday, reaching $16.44. The company's stock had a trading volume of 785,932 shares, compared to its average volume of 810,514. 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's fifty day moving average is $17.56 and its 200-day moving average is $23.53. The company has a market capitalization of $2.12 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 0.64 and a beta of 1.38. Select Medical Holdings Co. has a 1 year low of $14.99 and a 1 year high of $40.98.

Select Medical (NYSE:SEM - Get Free Report) last released its earnings results on Thursday, February 20th. The health services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.11). Select Medical had a return on equity of 14.04% and a net margin of 3.23%. The business had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.50 billion. On average, research analysts expect that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.

Select Medical Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, March 3rd were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, March 3rd. Select Medical's dividend payout ratio (DPR) is presently 15.15%.

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.