Connor Clark & Lunn Investment Management Ltd. Invests $1.32 Million in Select Medical Holdings Co. (NYSE:SEM)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Select Medical Holdings Co. (NYSE:SEM - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 37,848 shares of the health services provider's stock, valued at approximately $1,320,000.

Several other hedge funds have also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co raised its position in Select Medical by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 98,657 shares of the health services provider's stock worth $2,972,000 after buying an additional 3,594 shares during the last quarter. BOKF NA bought a new position in Select Medical during the first quarter valued at approximately $262,000. Tidal Investments LLC purchased a new stake in Select Medical in the first quarter worth approximately $467,000. Comerica Bank raised its stake in Select Medical by 30.0% during the 1st quarter. Comerica Bank now owns 68,485 shares of the health services provider's stock valued at $2,065,000 after buying an additional 15,824 shares during the last quarter. Finally, Boston Partners bought a new position in shares of Select Medical during the 1st quarter valued at $718,000. Hedge funds and other institutional investors own 89.48% of the company's stock.

Select Medical Stock Performance

Shares of NYSE SEM opened at $21.32 on Wednesday. The stock has a market cap of $2.76 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. Select Medical Holdings Co. has a 1 year low of $20.17 and a 1 year high of $40.98. The firm has a fifty day moving average price of $34.99 and a 200-day moving average price of $35.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.13 and a quick ratio of 1.13.

Select Medical (NYSE:SEM - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. Select Medical had a return on equity of 15.99% and a net margin of 3.97%. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period last year, the firm earned $0.46 earnings per share. The business's quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts anticipate that Select Medical Holdings Co. will post 2.16 earnings per share for the current fiscal year.

Select Medical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Wednesday, November 13th. Select Medical's payout ratio is currently 23.36%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SEM. Royal Bank of Canada raised their target price on Select Medical from $40.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. StockNews.com lowered shares of Select Medical from a "buy" rating to a "hold" rating in a research report on Thursday, November 21st. Benchmark downgraded shares of Select Medical from a "buy" rating to a "hold" rating in a research report on Monday. Finally, Bank of America assumed coverage on shares of Select Medical in a research report on Tuesday, August 20th. They set a "buy" rating and a $42.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.75.

Select Medical 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.