Hsbc Holdings PLC Raises Holdings in Select Medical Holdings Co. (NYSE:SEM)

Hsbc Holdings PLC increased its position in Select Medical Holdings Co. (NYSE:SEM) by 270.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,305 shares of the health services provider’s stock after buying an additional 67,362 shares during the period. Hsbc Holdings PLC owned 0.07% of Select Medical worth $1,751,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SEM. Smartleaf Asset Management LLC grew its stake in shares of Select Medical by 179.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,296 shares of the health services provider’s stock worth $43,000 after buying an additional 1,473 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Select Medical in the third quarter worth about $81,000. Covestor Ltd increased its stake in Select Medical by 33.5% during the fourth quarter. Covestor Ltd now owns 4,955 shares of the health services provider’s stock worth $93,000 after acquiring an additional 1,244 shares during the last quarter. Virtu Financial LLC purchased a new stake in Select Medical during the third quarter valued at approximately $210,000. Finally, Tidal Investments LLC bought a new stake in shares of Select Medical in the 3rd quarter valued at approximately $286,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.

Insider Transactions at Select Medical

In other Select Medical news, CEO David S. Chernow sold 225,000 shares of Select Medical stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $18.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now owns 714,516 shares in the company, valued at $12,861,288. The trade was a 23.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SEM. StockNews.com raised shares of Select Medical from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Benchmark upgraded Select Medical from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Monday, February 24th. Royal Bank of Canada cut their price objective on Select Medical from $47.00 to $23.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. UBS Group decreased their target price on Select Medical from $40.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, Mizuho started coverage on shares of Select Medical in a report on Wednesday, April 16th. They issued an “outperform” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.80.

Select Medical Price Performance

SEM opened at $18.20 on Friday. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.64 and a beta of 1.38. 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 $14.99 and a 12-month high of $40.98. The business’s fifty day simple moving average is $17.01 and its 200-day simple moving average is $21.96.

Select Medical (NYSE:SEM) last issued its earnings results on Thursday, May 1st. The health services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). Select Medical had a return on equity of 14.04% and a net margin of 3.23%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The firm’s revenue was down 24.4% on a year-over-year basis. On average, equities research analysts anticipate that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.

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

Select Medical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.37%. Select Medical’s dividend payout ratio is presently 15.15%.

Select Medical 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.