Select Medical (NYSE:SEM) Shares Gap Up - Here's What Happened

Select Medical Holdings Co. (NYSE:SEM - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $32.08, but opened at $34.30. Select Medical shares last traded at $36.95, with a volume of 137,307 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bank of America assumed coverage on Select Medical in a research report on Tuesday, August 20th. They set a "buy" rating and a $42.00 price target on the stock. Benchmark restated a "buy" rating and issued a $48.00 target price on shares of Select Medical in a research report on Friday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Select Medical has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Select Medical Price Performance

The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 2.03 and a beta of 1.41. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 1.09. The stock's 50 day simple moving average is $34.25 and its two-hundred day simple moving average is $33.91.

Select Medical (NYSE:SEM - Get Free Report) last posted its earnings results on Thursday, August 1st. The health services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). Select Medical had a return on equity of 17.50% and a net margin of 3.91%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the business earned $0.61 EPS. Select Medical's quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts forecast that Select Medical Holdings Co. will post 2.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Hexagon Capital Partners LLC raised its stake in shares of Select Medical by 528.7% in the second quarter. Hexagon Capital Partners LLC now owns 767 shares of the health services provider's stock worth $27,000 after acquiring an additional 645 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Select Medical in the 2nd quarter valued at $35,000. Canada Pension Plan Investment Board acquired a new stake in shares of Select Medical in the 2nd quarter valued at $39,000. Fidelis Capital Partners LLC bought a new position in Select Medical in the first quarter valued at about $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Select Medical in the second quarter worth about $60,000. 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.