Fmr LLC Sells 303,797 Shares of Select Medical Holdings Co. (NYSE:SEM)

FMR LLC lowered its holdings in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 82.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,712 shares of the health services provider's stock after selling 303,797 shares during the quarter. FMR LLC owned about 0.05% of Select Medical worth $2,291,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Kingsview Wealth Management LLC bought a new position in Select Medical in the third quarter valued at approximately $1,927,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Select Medical in the 3rd quarter worth $1,592,000. Hood River Capital Management LLC acquired a new stake in shares of Select Medical during the second quarter worth $14,819,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Select Medical in the third quarter valued at about $1,320,000. Finally, Principal Financial Group Inc. lifted its stake in Select Medical by 6.7% in the third quarter. Principal Financial Group Inc. now owns 2,357,823 shares of the health services provider's stock valued at $82,208,000 after buying an additional 147,032 shares during the period. Institutional investors own 89.48% of the company's stock.

Insider Activity at Select Medical

In other news, VP Robert G. Breighner, Jr. sold 4,989 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $19.95, for a total transaction of $99,530.55. Following the sale, the vice president now owns 30,356 shares in the company, valued at $605,602.20. This represents a 14.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Marilyn B. Tavenner sold 32,000 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $21.09, for a total transaction of $674,880.00. Following the sale, the director now directly owns 22,000 shares in the company, valued at $463,980. This trade represents a 59.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.14% of the stock is owned by insiders.

Select Medical Stock Down 1.8 %

SEM stock traded down $0.36 during mid-day trading on Friday, hitting $19.48. 893,374 shares of the company were exchanged, compared to its average volume of 1,468,156. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.13 and a current ratio of 1.13. Select Medical Holdings Co. has a 1-year low of $19.20 and a 1-year high of $40.98. The firm's 50 day simple moving average is $31.24 and its 200 day simple moving average is $33.77. The firm has a market cap of $2.52 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.39 and a beta of 1.43.

Select Medical (NYSE:SEM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.74 billion. Select Medical had a net margin of 3.97% and a return on equity of 15.99%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share. On average, sell-side analysts predict that Select Medical Holdings Co. will post 1.97 EPS for the current fiscal year.

Select Medical Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th were issued a dividend of $0.125 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.57%. Select Medical's payout ratio is presently 23.36%.

Wall Street Analysts Forecast Growth

SEM has been the subject of several analyst reports. StockNews.com upgraded Select Medical from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Benchmark downgraded shares of Select Medical from a "buy" rating to a "hold" rating in a research note on Monday, November 25th. Royal Bank of Canada lifted their price target on shares of Select Medical from $40.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Finally, Bank of America assumed coverage on shares of Select Medical in a research report on Tuesday, August 20th. They issued a "buy" rating and a $42.00 price objective for the company.

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.