T. Rowe Price Investment Management Inc. Trims Position in Select Medical Holdings Corporation $SEM

T. Rowe Price Investment Management Inc. lessened its holdings in shares of Select Medical Holdings Corporation (NYSE:SEM) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,029,944 shares of the health services provider’s stock after selling 389,195 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Select Medical were worth $67,301,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Select Medical by 2,552.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,596,414 shares of the health services provider’s stock worth $30,092,000 after buying an additional 1,536,234 shares during the period. Bridgeway Capital Management LLC purchased a new position in shares of Select Medical in the 4th quarter worth $14,074,000. Nuveen LLC purchased a new position in shares of Select Medical in the 1st quarter worth $12,133,000. Vanguard Group Inc. raised its position in shares of Select Medical by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 13,316,069 shares of the health services provider’s stock worth $222,378,000 after buying an additional 603,079 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Select Medical by 1,965.5% in the 4th quarter. BNP Paribas Financial Markets now owns 551,912 shares of the health services provider’s stock worth $10,404,000 after buying an additional 525,192 shares during the period. Hedge funds and other institutional investors own 89.48% of the company’s stock.

Analysts Set New Price Targets

SEM has been the topic of several research reports. UBS Group reaffirmed a “neutral” rating and issued a $14.00 target price (down from $15.00) on shares of Select Medical in a research report on Monday, August 4th. Royal Bank Of Canada lowered their price target on Select Medical from $23.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Select Medical Stock Up 3.2%

Shares of Select Medical stock opened at $13.4050 on Friday. The business has a 50-day moving average of $14.04 and a 200-day moving average of $15.74. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $1.66 billion, a PE ratio of 12.65, a P/E/G ratio of 0.69 and a beta of 1.25. Select Medical Holdings Corporation has a 1-year low of $11.65 and a 1-year high of $40.98.

Select Medical (NYSE:SEM) last announced its earnings results on Thursday, July 31st. The health services provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. Select Medical had a return on equity of 8.87% and a net margin of 2.37%.The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Select Medical has set its FY 2025 guidance at 1.090-1.19 EPS. As a group, equities analysts forecast that Select Medical Holdings Corporation will post 1.17 EPS for the current fiscal year.

Select Medical Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, August 13th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, August 13th. Select Medical’s payout ratio is presently 23.58%.

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

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.