Dynamic Technology Lab Private Ltd grew its position in Select Medical Holdings Corporation (NYSE:SEM – Free Report) by 441.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,901 shares of the health services provider’s stock after purchasing an additional 48,013 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Select Medical were worth $757,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in SEM. Quantbot Technologies LP bought a new stake in shares of Select Medical in the 3rd quarter valued at approximately $27,000. MAI Capital Management raised its position in Select Medical by 48,000.0% during the second quarter. MAI Capital Management now owns 2,405 shares of the health services provider’s stock valued at $37,000 after acquiring an additional 2,400 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in Select Medical by 6,868.4% in the third quarter. Cornerstone Planning Group LLC now owns 3,972 shares of the health services provider’s stock valued at $51,000 after acquiring an additional 3,915 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Select Medical by 20.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,784 shares of the health services provider’s stock valued at $74,000 after acquiring an additional 999 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Select Medical by 13.2% in the second quarter. Advisors Asset Management Inc. now owns 7,135 shares of the health services provider’s stock worth $108,000 after acquiring an additional 834 shares in the last quarter. 89.48% of the stock is currently owned by institutional investors and hedge funds.
Select Medical Price Performance
Shares of Select Medical stock opened at $16.25 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.89. The firm has a fifty day simple moving average of $15.42 and a 200-day simple moving average of $14.32. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 0.93 and a beta of 1.22. Select Medical Holdings Corporation has a 1-year low of $11.65 and a 1-year high of $18.60.
Select Medical Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Monday, March 2nd will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, March 2nd. Select Medical’s payout ratio is currently 21.74%.
Select Medical declared that its Board of Directors has approved a stock buyback program on Thursday, February 19th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the health services provider to repurchase up to 49.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
SEM has been the topic of a number of recent research reports. Royal Bank Of Canada restated a “sector perform” rating and set a $16.50 price target (down from $19.00) on shares of Select Medical in a report on Tuesday, March 3rd. Wall Street Zen downgraded shares of Select Medical from a “buy” rating to a “hold” rating in a research report on Monday. Benchmark lowered Select Medical from a “buy” rating to a “hold” rating in a report on Wednesday, March 4th. Zacks Research cut Select Medical from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings upgraded Select Medical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Select Medical has a consensus rating of “Hold” and a consensus price target of $15.63.
About Select Medical
Select Medical is a leading provider of specialized healthcare services in the United States, operating through two primary business segments: Hospital Division and Outpatient Rehabilitation Division. The Hospital Division offers long-term acute care (LTAC) hospitals and inpatient rehabilitation facilities (IRFs) that serve patients recovering from complex illnesses, trauma or surgery. The Outpatient Rehabilitation Division delivers physical, occupational and speech therapy services through a network of clinic locations and home-based care programs.
Headquartered in Mechanicsburg, Pennsylvania, Select Medical was founded in 1996 and has grown through strategic partnerships, joint ventures and acquisitions.
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