Select Medical (NYSE:SEM) Raised to Buy at Benchmark

Benchmark upgraded shares of Select Medical (NYSE:SEM) from a hold rating to a buy rating in a research report sent to investors on Monday, Marketbeat Ratings reports. The brokerage currently has $23.00 target price on the health services provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. UBS Group reduced their price objective on Select Medical from $40.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Royal Bank of Canada lifted their target price 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. Finally, StockNews.com upgraded shares of Select Medical from a “hold” rating to a “buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and four have assigned 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 $27.25.

Select Medical Trading Up 4.7 %

NYSE:SEM opened at $18.51 on Monday. 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 has a 1 year low of $16.20 and a 1 year high of $40.98. The stock has a market cap of $2.40 billion, a P/E ratio of 11.22, a P/E/G ratio of 0.64 and a beta of 1.45. The stock has a 50-day simple moving average of $19.07 and a 200-day simple moving average of $27.81.

Select Medical (NYSE:SEM) last announced its quarterly earnings results on Thursday, February 20th. The health services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.11). The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Select Medical had a net margin of 3.23% and a return on equity of 14.04%. As a group, analysts anticipate that Select Medical will post 1.17 earnings per share for the current fiscal year.

Select Medical Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Monday, March 3rd will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Monday, March 3rd. Select Medical’s payout ratio is 30.30%.

Insiders Place Their Bets

In other news, VP Robert G. Breighner, Jr. sold 4,989 shares of Select Medical stock in a transaction that occurred on Wednesday, December 4th. The shares were 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. This trade represents a 14.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.14% of the company’s stock.

Hedge Funds Weigh In On Select Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Select Medical in the fourth quarter valued at $29,556,000. The Manufacturers Life Insurance Company increased its holdings in Select Medical by 2,552.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,596,414 shares of the health services provider’s stock valued at $30,092,000 after acquiring an additional 1,536,234 shares in the last quarter. Hood River Capital Management LLC raised its position in Select Medical by 404.8% during the fourth quarter. Hood River Capital Management LLC now owns 1,755,733 shares of the health services provider’s stock worth $33,096,000 after acquiring an additional 1,407,902 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Select Medical by 144.2% in the third 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 purchasing an additional 1,216,263 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Select Medical by 48.6% in the fourth quarter. Invesco Ltd. now owns 2,643,943 shares of the health services provider’s stock valued at $49,838,000 after purchasing an additional 864,852 shares during the last quarter. 89.48% of the stock is owned by institutional investors and hedge funds.

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.