Select Medical (NYSE:SEM) Price Target Cut to $23.00 by Analysts at Royal Bank of Canada

Select Medical (NYSE:SEM) had its target price decreased by analysts at Royal Bank of Canada from $47.00 to $23.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 20.07% from the stock’s previous close.

Several other brokerages also recently issued reports on SEM. Benchmark raised shares of Select Medical from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Monday. StockNews.com raised Select Medical from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Finally, UBS Group dropped their target price on Select Medical from $40.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.25.

Select Medical Trading Up 3.4 %

Shares of NYSE:SEM opened at $19.16 on Monday. Select Medical has a 1-year low of $16.20 and a 1-year high of $40.98. The company has a 50 day moving average price of $19.07 and a 200 day moving average price of $27.81. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.64 and a beta of 1.45. 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 (NYSE:SEM) last released its quarterly earnings results on Thursday, February 20th. The health services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.11). The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.50 billion. Select Medical had a net margin of 3.23% and a return on equity of 14.04%. On average, research analysts anticipate that Select Medical will post 1.17 EPS for the current fiscal year.

Insider Activity

In related news, VP Robert G. Breighner, Jr. sold 4,989 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $19.95, for a total value 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 represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 19.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Select Medical

Institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Select Medical during the 3rd quarter valued at about $30,000. Smartleaf Asset Management LLC boosted its position in Select Medical by 179.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,296 shares of the health services provider’s stock worth $43,000 after purchasing an additional 1,473 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Select Medical during the third quarter valued at approximately $81,000. Covestor Ltd raised its position in shares of Select Medical by 33.5% in the fourth quarter. Covestor Ltd now owns 4,955 shares of the health services provider’s stock valued at $93,000 after purchasing an additional 1,244 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Select Medical by 47.8% in the fourth quarter. Lazard Asset Management LLC now owns 6,974 shares of the health services provider’s stock worth $130,000 after buying an additional 2,255 shares during the last quarter. 89.48% of the stock is currently owned by institutional investors.

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.