Royal Bank of Canada Boosts Select Medical (NYSE:SEM) Price Target to $40.00

Select Medical (NYSE:SEM) had its target price increased by Royal Bank of Canada from $36.00 to $40.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the health services provider’s stock.

Several other research analysts also recently weighed in on SEM. Benchmark reiterated a buy rating and set a $39.00 price target on shares of Select Medical in a research note on Friday, May 3rd. StockNews.com upgraded Select Medical from a hold rating to a buy rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $34.25.

Select Medical Stock Up 0.3 %

Shares of NYSE:SEM opened at $32.84 on Monday. The company has a market capitalization of $4.27 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.24 and a beta of 1.38. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.22 and a quick ratio of 1.22. The business has a fifty day moving average price of $28.71 and a two-hundred day moving average price of $26.12. Select Medical has a 1 year low of $21.28 and a 1 year high of $33.51.

Select Medical (NYSE:SEM) last announced its quarterly earnings data on Friday, February 23rd. The health services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. Select Medical had a return on equity of 18.11% and a net margin of 3.97%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. Analysts forecast that Select Medical will post 2.03 earnings per share for the current year.

Select Medical Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.50 annualized dividend and a yield of 1.52%. Select Medical’s dividend payout ratio is currently 23.81%.

Insiders Place Their Bets

In other Select Medical news, Chairman Robert A. Ortenzio sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $29.90, for a total value of $1,495,000.00. Following the completion of the transaction, the chairman now owns 6,689,668 shares in the company, valued at approximately $200,021,073.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.50% of the stock is owned by corporate insiders.

Institutional Trading of Select Medical

Several institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC raised its holdings in shares of Select Medical by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 20,984 shares of the health services provider’s stock valued at $633,000 after acquiring an additional 1,441 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Select Medical by 150.8% in the 1st quarter. Russell Investments Group Ltd. now owns 92,160 shares of the health services provider’s stock valued at $2,779,000 after acquiring an additional 55,416 shares in the last quarter. Swiss National Bank raised its holdings in shares of Select Medical by 1.0% in the 1st quarter. Swiss National Bank now owns 215,100 shares of the health services provider’s stock valued at $6,485,000 after acquiring an additional 2,100 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Select Medical during the 1st quarter valued at about $186,000. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Select Medical by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 92,013 shares of the health services provider’s stock valued at $2,774,000 after buying an additional 1,230 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.