Select Medical (NYSE:SEM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Select Medical Holdings Corporation, through its subsidiaries, operates specialty hospitals and outpatient rehabilitation clinics. The company’s Specialty Hospital segment offers long-term acute care hospital services and inpatient acute rehabilitative hospital care services. Its Outpatient Rehabilitation segment operates clinics and provides physical, occupational, and speech rehabilitation services. The company also provides medical rehabilitation services on a contract basis to nursing homes, hospitals, assisted living and senior care centers, schools, and work sites. The Mission of Select Medical Corporation is to ensure high-quality health care and cost-effective outcomes by providing specialty inpatient long-term acute care and rehabilitation, and outpatient rehabilitation services. The company is headquartered in Mechanicsburg, Pennsylvania. “
Several other analysts have also weighed in on SEM. Robert W. Baird reiterated a “buy” rating and set a $21.00 target price on shares of Select Medical in a research report on Tuesday, October 17th. ValuEngine lowered shares of Select Medical from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Royal Bank of Canada reiterated a “buy” rating and set a $19.00 target price on shares of Select Medical in a research report on Friday, October 13th. Finally, Deutsche Bank restated a “buy” rating and issued a $22.00 price target on shares of Select Medical in a research report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.50.
Select Medical (NYSE:SEM) last issued its earnings results on Thursday, November 2nd. The health services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Select Medical had a net margin of 2.21% and a return on equity of 11.44%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm posted $0.06 earnings per share. Select Medical’s revenue was up 4.1% on a year-over-year basis. sell-side analysts predict that Select Medical will post 0.85 earnings per share for the current fiscal year.
In other Select Medical news, insider Scott A. Romberger sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $17.97, for a total value of $89,850.00. Following the completion of the transaction, the insider now directly owns 168,211 shares of the company’s stock, valued at $3,022,751.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael E. Tarvin sold 18,500 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $18.97, for a total transaction of $350,945.00. Following the completion of the transaction, the insider now directly owns 340,044 shares of the company’s stock, valued at $6,450,634.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,525 shares of company stock worth $2,815,291. Company insiders own 19.93% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacad Investment Ltd. raised its stake in shares of Select Medical by 58.7% in the second quarter. Pacad Investment Ltd. now owns 7,300 shares of the health services provider’s stock worth $112,000 after acquiring an additional 2,700 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Select Medical by 4.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,709 shares of the health services provider’s stock worth $133,000 after acquiring an additional 396 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Select Medical by 78.0% in the second quarter. Riverhead Capital Management LLC now owns 8,722 shares of the health services provider’s stock worth $134,000 after acquiring an additional 3,822 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Select Medical by 75.8% during the second quarter. Flinton Capital Management LLC now owns 9,744 shares of the health services provider’s stock worth $150,000 after buying an additional 4,200 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new stake in shares of Select Medical during the third quarter worth approximately $201,000. 77.93% of the stock is owned by institutional investors.
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About Select Medical
Select Medical Holdings Corporation is an operator of specialty hospitals, outpatient rehabilitation clinics and occupational medicine centers in the United States. The Company’s segments include specialty hospitals, outpatient rehabilitation, Concentra and Other. The specialty hospitals segment consists of hospitals designed to serve the needs of long term acute patients and hospitals designed to serve patients that require intensive medical rehabilitation care.
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