Raymond James & Associates Cuts Select Medical Holdings Co Share Holdings (NYSE: SEM)

VaselineAugust 28, 2024

0 3 minutes read

Raymond James & Associates reduced its position in shares of Select Medical Holdings Co. (NYSE:SEM – Free Report) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 266,289 shares of the health services provider’s stock after selling 7,790 shares during the period. Raymond James & Associates’ holdings in Select Medical were worth $9,336,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Tidal Investments LLC acquired a new stake in shares of Select Medical in the first quarter worth $467,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Select Medical in the 4th quarter valued at $777,000. Denali Advisors LLC lifted its position in shares of Select Medical by 96.7% in the first quarter. Denali Advisors LLC now owns 125,483 shares of the health services provider’s stock worth $3,783,000 after purchasing an additional 61,700 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Select Medical in the first quarter worth $690,000. Finally, Vanguard Group Inc. lifted its position in shares of Select Medical by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 12,347,798 shares of the health services provider’s stock worth $290,173,000 after buying an additional 342,496 shares in the last quarter. 89.48% of shares are held by hedge funds and other institutional investors.

Select Medical Trading Up 3.6%

NYSE SEM opened at $35.58 on Monday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.09, and a current ratio of 1.09. The firm has a market cap of $4.63 billion, a PE ratio of 16.94, a P/E/G ratio of 1.51 and a beta of 1.43. Select Medical Holdings Co. it has a one year low of $21.28 and a one year high of $40.50. The company has a fifty day moving average of $35.60 and a two hundred day moving average of $31.92.

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Select Medical (NYSE:SEM – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The healthcare provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.74 billion. Select Medical had a net margin of 3.91% and a return on equity of 17.50%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $0.61 per share. Analysts expect Select Medical Holdings Co. will record 2.18 earnings per share for the current year.

Select Medical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th will be given a $0.125 dividend. The ex-dividend date is Wednesday, August 14. This represents a dividend of $0.50 on an annualized basis and a yield of 1.41%. Select Medical’s dividend payout ratio is currently 23.81%.

The Wall Street analyst weighs in

A number of equities research analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $48.00 target price on shares of Select Medical in a research report on Friday, August 2nd. Royal Bank of Canada upped their target price on shares of Select Medical from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, Bank of America assumed coverage on shares of Select Medical in a research report on Tuesday, August 20th. They issued a “buy” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Select Medical has a consensus rating of “Moderate Buy” and an average price target of $39.00, based on data from MarketBeat.

Get the latest stock report on Select Medical

Select Medical Profile

(Free Report)

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.