Point72 Asia Singapore Pte. Ltd. Decreases Holdings in Select Medical Holdings Co. (NYSE:SEM)

Point72 Asia Singapore Pte. Ltd. lowered its position in Select Medical Holdings Co. (NYSE:SEM) by 54.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,764 shares of the health services provider’s stock after selling 4,542 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Select Medical were worth $71,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. American Century Companies Inc. lifted its holdings in shares of Select Medical by 1,309.5% in the 4th quarter. American Century Companies Inc. now owns 137,169 shares of the health services provider’s stock worth $2,586,000 after acquiring an additional 127,437 shares during the last quarter. Sanctuary Advisors LLC raised its position in Select Medical by 122.8% in the 4th quarter. Sanctuary Advisors LLC now owns 52,175 shares of the health services provider’s stock worth $1,035,000 after purchasing an additional 28,759 shares during the period. Sterling Capital Management LLC lifted its stake in Select Medical by 9.5% in the fourth quarter. Sterling Capital Management LLC now owns 11,304 shares of the health services provider’s stock worth $213,000 after purchasing an additional 978 shares during the last quarter. Vanguard Group Inc. boosted its position in Select Medical by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 12,712,990 shares of the health services provider’s stock valued at $239,640,000 after buying an additional 131,228 shares during the period. Finally, Wedge Capital Management L L P NC grew its stake in shares of Select Medical by 66.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 118,049 shares of the health services provider’s stock valued at $2,225,000 after buying an additional 46,925 shares during the last quarter. 89.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Select Medical Trading Up 0.9%

NYSE SEM opened at $15.36 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 Holdings Co. has a fifty-two week low of $14.03 and a fifty-two week high of $40.98. The stock has a market cap of $1.97 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 0.64 and a beta of 1.40. The stock has a 50 day simple moving average of $16.32 and a two-hundred day simple moving average of $20.49.

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

Select Medical announced that its board has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Select Medical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.25 annualized dividend and a dividend yield of 1.63%. Select Medical’s payout ratio is 18.66%.

Wall Street Analysts Forecast Growth

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

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.