State Street Corp Lowers Holdings in Select Medical Holdings Co. (NYSE:SEM)

State Street Corp reduced its position in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,124,701 shares of the health services provider's stock after selling 47,968 shares during the quarter. State Street Corp owned about 3.19% of Select Medical worth $143,828,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. increased its position in Select Medical by 144.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,059,791 shares of the health services provider's stock valued at $71,825,000 after buying an additional 1,216,263 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Select Medical by 183.9% during the second quarter. Millennium Management LLC now owns 679,522 shares of the health services provider's stock valued at $23,824,000 after acquiring an additional 440,140 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in Select Medical in the 2nd quarter worth approximately $14,819,000. Ceredex Value Advisors LLC purchased a new stake in Select Medical during the 2nd quarter worth approximately $11,456,000. Finally, Loomis Sayles & Co. L P acquired a new position in Select Medical during the 3rd quarter valued at approximately $9,710,000. Hedge funds and other institutional investors own 89.48% of the company's stock.

Insider Buying and Selling at Select Medical

In related news, VP Robert G. Breighner, Jr. sold 4,989 shares of the business'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 completion of the sale, the vice president now directly owns 30,356 shares in the company, valued at approximately $605,602.20. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 of the company's stock, valued at $463,980. The trade was a 59.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 19.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Benchmark cut Select Medical from a "buy" rating to a "hold" rating in a research report on Monday, November 25th. StockNews.com upgraded Select Medical from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. 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 target for the company. Finally, Royal Bank of Canada upped their price objective on shares of Select Medical from $40.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, November 4th.

Select Medical Stock Performance

SEM traded down $0.36 on Friday, reaching $19.48. The stock had a trading volume of 893,374 shares, compared to its average volume of 683,771. The business's 50-day moving average price is $31.53 and its two-hundred day moving average price is $33.85. 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 Holdings Co. has a 12-month low of $19.20 and a 12-month high of $40.98. The company has a market cap of $2.52 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 0.39 and a beta of 1.43.

Select Medical (NYSE:SEM - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.07. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.74 billion. Select Medical had a return on equity of 15.99% and a net margin of 3.97%. Select Medical's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Sell-side analysts forecast that Select Medical Holdings Co. will post 1.97 earnings per share for the current year.

Select Medical Announces Dividend

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

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.