Cornercap Investment Counsel Inc. Reduces Position in Select Medical Holdings Co. (NYSE:SEM)

Cornercap Investment Counsel Inc. decreased its holdings in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 51.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,134 shares of the health services provider's stock after selling 18,265 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Select Medical were worth $597,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Select Medical by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 12,997,891 shares of the health services provider's stock worth $391,886,000 after purchasing an additional 650,093 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Select Medical by 179.5% during the second quarter. Point72 Asset Management L.P. now owns 843,528 shares of the health services provider's stock worth $29,574,000 after buying an additional 541,728 shares during the last quarter. Millennium Management LLC lifted its holdings in Select Medical by 183.9% in the second quarter. Millennium Management LLC now owns 679,522 shares of the health services provider's stock valued at $23,824,000 after buying an additional 440,140 shares during the period. Hood River Capital Management LLC acquired a new stake in Select Medical during the 2nd quarter worth about $14,819,000. Finally, Ceredex Value Advisors LLC bought a new position in shares of Select Medical in the 2nd quarter worth about $11,456,000. 89.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SEM has been the subject of several recent analyst reports. StockNews.com raised shares of Select Medical from a "hold" rating to a "buy" rating in a research report on Wednesday. Benchmark reaffirmed a "buy" rating and issued a $48.00 price target on shares of Select Medical in a research note on Friday, November 1st. Royal Bank of Canada raised their target price on Select Medical from $40.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Finally, Bank of America assumed coverage on Select Medical in a research note on Tuesday, August 20th. They set a "buy" rating and a $42.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Select Medical currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.75.

Select Medical Stock Performance

Shares of SEM stock traded up $0.21 on Friday, hitting $37.45. 786,248 shares of the stock were exchanged, compared to its average volume of 609,546. Select Medical Holdings Co. has a one year low of $22.26 and a one year high of $40.98. The firm's 50 day moving average is $34.81 and its two-hundred day moving average is $34.73. The firm has a market capitalization of $4.85 billion, a PE ratio of 17.50, a P/E/G ratio of 1.99 and a beta of 1.42. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37.

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, topping analysts' consensus estimates of $0.36 by $0.07. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.74 billion. Select Medical had a return on equity of 15.99% and a net margin of 3.97%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. Sell-side analysts expect that Select Medical Holdings Co. will post 2.16 earnings per share for the current fiscal year.

Select Medical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Wednesday, November 13th. Select Medical's payout ratio is 23.36%.

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.