Royal Bank of Canada Raises Select Medical (NYSE:SEM) Price Target to $40.00

Select Medical (NYSE:SEM) had its price target increased by analysts at Royal Bank of Canada from $36.00 to $40.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 24.53% from the stock’s previous close.

A number of other research analysts have also recently weighed in on SEM. StockNews.com upgraded Select Medical from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Benchmark restated a “buy” rating and issued a $39.00 price target on shares of Select Medical in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Select Medical currently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

Select Medical Trading Up 2.2 %

Shares of Select Medical stock traded up $0.69 during mid-day trading on Monday, hitting $32.12. 535,527 shares of the stock were exchanged, compared to its average volume of 577,173. The company has a 50-day simple moving average of $28.42 and a 200 day simple moving average of $25.95. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.30. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.24 and a beta of 1.38. Select Medical has a twelve month low of $21.28 and a twelve month high of $33.51.

Select Medical (NYSE:SEM) last issued its quarterly earnings results on Friday, February 23rd. The health services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. Select Medical had a return on equity of 18.11% and a net margin of 3.97%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm posted $0.22 EPS. Select Medical’s revenue was up 4.9% on a year-over-year basis. Research analysts forecast that Select Medical will post 2.03 EPS for the current year.

Insider Transactions at Select Medical

In other Select Medical news, Chairman Robert A. Ortenzio sold 50,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $29.90, for a total value of $1,495,000.00. Following the completion of the transaction, the chairman now directly owns 6,689,668 shares of the company’s stock, valued at approximately $200,021,073.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Select Medical

Several institutional investors and hedge funds have recently made changes to their positions in SEM. Texas Permanent School Fund Corp boosted its stake in Select Medical by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 92,013 shares of the health services provider’s stock valued at $2,774,000 after acquiring an additional 1,230 shares during the last quarter. Essex Investment Management Co. LLC grew its stake in Select Medical by 16.9% in the first quarter. Essex Investment Management Co. LLC now owns 156,574 shares of the health services provider’s stock worth $4,721,000 after purchasing an additional 22,674 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Select Medical during the first quarter valued at approximately $47,000. Capstone Investment Advisors LLC bought a new position in Select Medical during the 1st quarter worth approximately $690,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Select Medical by 26.1% in the 1st quarter. BNP Paribas Financial Markets now owns 55,543 shares of the health services provider’s stock valued at $1,675,000 after acquiring an additional 11,507 shares during the last quarter. 89.48% of the stock is currently owned by hedge funds and other 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.