Royal Bank of Canada Forecasts Strong Price Appreciation for Select Medical (NYSE:SEM) Stock

Select Medical (NYSE:SEM - Free Report) had its price target increased by Royal Bank of Canada from $40.00 to $47.00 in a research report released on Monday, Benzinga reports. They currently have an outperform rating on the health services provider's stock.

Several other research firms have also recently commented on SEM. Benchmark restated a "buy" rating and set a $48.00 price target on shares of Select Medical in a research note on Friday. Bank of America assumed coverage on shares of Select Medical in a research note on Tuesday, August 20th. They issued a "buy" rating and a $42.00 target price for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.75.

Select Medical Stock Performance

Shares of Select Medical stock traded up $0.56 during trading on Monday, reaching $36.51. The company's stock had a trading volume of 922,461 shares, compared to its average volume of 603,813. The company has a 50-day moving average price of $34.26 and a two-hundred day moving average price of $34.07. Select Medical has a fifty-two week low of $21.28 and a fifty-two week high of $40.50. The firm has a market cap of $4.75 billion, a PE ratio of 17.23, a P/E/G ratio of 1.98 and a beta of 1.42. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.11.

Select Medical (NYSE:SEM - Get Free Report) last announced its 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. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.74 billion. Select Medical had a net margin of 3.97% and a return on equity of 17.56%. The business's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. On average, analysts forecast that Select Medical will post 2.03 EPS for the current year.

Select Medical Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.125 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.50 annualized dividend and a dividend yield of 1.37%. Select Medical's payout ratio is currently 23.36%.

Hedge Funds Weigh In On Select Medical

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in Select Medical by 16.6% during the third quarter. GAMMA Investing LLC now owns 2,313 shares of the health services provider's stock worth $81,000 after buying an additional 330 shares during the period. Foster & Motley Inc. grew its holdings in shares of Select Medical by 3.1% in the 2nd quarter. Foster & Motley Inc. now owns 12,147 shares of the health services provider's stock worth $426,000 after acquiring an additional 370 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Select Medical by 6.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,563 shares of the health services provider's stock valued at $198,000 after purchasing an additional 405 shares in the last quarter. Arizona State Retirement System raised its holdings in Select Medical by 2.0% during the second quarter. Arizona State Retirement System now owns 30,544 shares of the health services provider's stock worth $1,071,000 after purchasing an additional 593 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in Select Medical by 528.7% during the second quarter. Hexagon Capital Partners LLC now owns 767 shares of the health services provider's stock worth $27,000 after purchasing an additional 645 shares in the last quarter. Hedge funds and other institutional investors own 89.48% of the company's stock.

About Select Medical

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.