Panagora Asset Management Inc. cut its holdings in Select Medical Holdings Co. (NYSE:SEM) by 1.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 255,031 shares of the health services provider’s stock after selling 3,031 shares during the quarter. Panagora Asset Management Inc.’s holdings in Select Medical were worth $4,693,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Select Medical in the second quarter valued at about $120,000. Cornerstone Wealth Management LLC acquired a new stake in Select Medical in the second quarter valued at about $400,000. UBS Group AG boosted its stake in Select Medical by 2,189.3% in the first quarter. UBS Group AG now owns 7,738 shares of the health services provider’s stock valued at $133,000 after buying an additional 7,400 shares in the last quarter. Legacy Financial Advisors Inc. acquired a new stake in shares of Select Medical during the third quarter valued at about $142,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Select Medical by 232.4% during the third quarter. Public Employees Retirement Association of Colorado now owns 11,155 shares of the health services provider’s stock valued at $205,000 after purchasing an additional 7,799 shares in the last quarter. 75.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of SEM stock opened at $18.41 on Friday. Select Medical Holdings Co. has a 12 month low of $15.83 and a 12 month high of $21.65. The stock has a market cap of $2.52 billion, a PE ratio of 18.98, a PEG ratio of 1.26 and a beta of 1.43. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 3.72.
Select Medical (NYSE:SEM) last announced its quarterly earnings results on Thursday, November 1st. The health services provider reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Select Medical had a return on equity of 15.95% and a net margin of 4.32%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities analysts predict that Select Medical Holdings Co. will post 1.05 EPS for the current year.
A number of analysts have recently commented on SEM shares. Credit Suisse Group lifted their price target on Select Medical from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, November 5th. ValuEngine lowered Select Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Finally, Zacks Investment Research raised Select Medical from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $20.83.
In other news, Director James S. Ely III sold 9,000 shares of Select Medical stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $20.00, for a total transaction of $180,000.00. Following the sale, the director now directly owns 101,865 shares of the company’s stock, valued at $2,037,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Robert A. Ortenzio sold 37,468 shares of Select Medical stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $20.05, for a total value of $751,233.40. Following the sale, the chairman now directly owns 7,251,571 shares in the company, valued at $145,393,998.55. The disclosure for this sale can be found here. Insiders have sold 145,044 shares of company stock worth $2,907,682 over the last three months. Insiders own 19.86% of the company’s stock.
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Select Medical Profile
Select Medical Holdings Corporation, through its subsidiary, Select Medical Corporation, operates acute care hospitals (LTCHs), inpatient rehabilitation facilities (IRFs), outpatient rehabilitation clinics, and occupational medicine centers in the United States. The company operates through four segments: Long Term Acute Care, Inpatient Rehabilitation, Outpatient Rehabilitation, and Concentra.
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