Moran Wealth Management LLC Acquires 115,840 Shares of Select Medical Holdings Corporation (NYSE:SEM)

Moran Wealth Management LLC raised its holdings in Select Medical Holdings Corporation (NYSE:SEM) by 99.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 232,908 shares of the health services provider’s stock after buying an additional 115,840 shares during the quarter. Moran Wealth Management LLC owned about 0.18% of Select Medical worth $3,890,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. LPL Financial LLC boosted its position in shares of Select Medical by 2.0% during the fourth quarter. LPL Financial LLC now owns 31,441 shares of the health services provider’s stock valued at $593,000 after purchasing an additional 619 shares in the last quarter. Vista Finance LLC lifted its position in Select Medical by 7.0% during the first quarter. Vista Finance LLC now owns 10,969 shares of the health services provider’s stock valued at $183,000 after buying an additional 716 shares during the period. Net Worth Advisory Group lifted its position in Select Medical by 6.4% during the first quarter. Net Worth Advisory Group now owns 14,045 shares of the health services provider’s stock valued at $235,000 after buying an additional 846 shares during the period. Bank of Montreal Can boosted its holdings in shares of Select Medical by 4.5% during the 4th quarter. Bank of Montreal Can now owns 20,030 shares of the health services provider’s stock valued at $378,000 after buying an additional 867 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of Select Medical by 9.5% in the 4th quarter. Sterling Capital Management LLC now owns 11,304 shares of the health services provider’s stock worth $213,000 after buying an additional 978 shares during the period. 89.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Select Medical

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

Select Medical Stock Performance

Shares of Select Medical stock opened at $14.95 on Thursday. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 0.80 and a beta of 1.34. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.16 and a quick ratio of 1.16. Select Medical Holdings Corporation has a 1 year low of $14.03 and a 1 year high of $40.98. The firm’s 50-day moving average is $15.44 and its 200 day moving average is $17.29.

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). The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.40 billion. Select Medical had a return on equity of 11.04% and a net margin of 2.81%. The company’s quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. Sell-side analysts anticipate that Select Medical Holdings Corporation will post 1.17 EPS for the current fiscal year.

Select Medical declared that its board has authorized a share repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the health services provider to reacquire up to 42.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Select Medical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, May 15th. Select Medical’s payout ratio is currently 18.66%.

Analysts Set New Price Targets

Several research firms recently commented on SEM. Royal Bank Of Canada dropped their price objective on shares of Select Medical from $23.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Mizuho began coverage on Select Medical in a research report on Wednesday, April 16th. They issued an “outperform” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.00.

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.