Northern Trust Corp Has $25.49 Million Stake in Select Medical Holdings Co. (NYSE:SEM)

Northern Trust Corp increased its stake in shares of Select Medical Holdings Co. (NYSE:SEM) by 12.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,352,046 shares of the health services provider’s stock after acquiring an additional 153,992 shares during the period. Northern Trust Corp owned 1.04% of Select Medical worth $25,486,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SEM. Smartleaf Asset Management LLC increased its holdings in shares of Select Medical by 179.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,296 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 1,473 shares during the last quarter. Covestor Ltd increased its holdings in shares of Select Medical by 33.5% during the 4th quarter. Covestor Ltd now owns 4,955 shares of the health services provider’s stock valued at $93,000 after acquiring an additional 1,244 shares during the last quarter. Quarry LP grew its holdings in Select Medical by 963.0% in the 4th quarter. Quarry LP now owns 9,078 shares of the health services provider’s stock valued at $171,000 after buying an additional 8,224 shares during the last quarter. HBK Investments L P acquired a new stake in Select Medical in the 4th quarter valued at approximately $188,000. Finally, Cibc World Markets Corp acquired a new stake in Select Medical in the 4th quarter valued at approximately $191,000. Institutional investors and hedge funds own 89.48% of the company’s stock.

Select Medical Price Performance

Shares of SEM stock opened at $14.91 on Monday. The stock has a 50 day moving average of $16.57 and a two-hundred day moving average of $21.01. 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 $14.03 and a 12 month high of $40.98. The company has a market capitalization of $1.92 billion, a P/E ratio of 9.04, a P/E/G ratio of 0.64 and a beta of 1.40.

Select Medical (NYSE:SEM) last posted its earnings results on Thursday, May 1st. The health services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.40 billion. Select Medical had a return on equity of 14.04% and a net margin of 3.23%. Select Medical’s quarterly revenue was down 24.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS. As a group, equities analysts expect that Select Medical Holdings Co. will post 1.17 EPS for the current year.

Select Medical declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the health services provider to buy up to 42.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Select Medical Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.0625 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.25 annualized dividend and a dividend yield of 1.68%. Select Medical’s dividend payout ratio (DPR) is presently 18.66%.

Insider Buying and Selling

In related news, CEO David S. Chernow sold 225,000 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $18.00, for a total transaction of $4,050,000.00. Following the completion of the transaction, the chief executive officer now owns 714,516 shares in the company, valued at $12,861,288. This trade represents a 23.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Parvinderjit S. Khanuja bought 21,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average price of $15.02 per share, with a total value of $315,420.00. Following the transaction, the director now directly owns 65,089 shares in the company, valued at $977,636.78. This trade represents a 47.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on SEM shares. StockNews.com raised Select Medical from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Mizuho started coverage on Select Medical in a report on Wednesday, April 16th. They issued an “outperform” rating and a $25.00 target price on the stock. Benchmark raised Select Medical from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Monday, February 24th. Finally, Royal Bank of Canada lowered their target price on Select Medical from $23.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

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.