Ameriprise Financial Inc. lessened its stake in Select Medical Holdings Co. (NYSE:SEM) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 563,777 shares of the health services provider’s stock after selling 13,390 shares during the period. Ameriprise Financial Inc. owned 0.42% of Select Medical worth $10,825,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its position in Select Medical by 3.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 390,052 shares of the health services provider’s stock valued at $5,987,000 after acquiring an additional 11,245 shares during the period. Russell Investments Group Ltd. increased its position in Select Medical by 121.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 85,912 shares of the health services provider’s stock valued at $1,319,000 after acquiring an additional 47,131 shares during the period. Parametrica Management Ltd acquired a new position in Select Medical in the 3rd quarter valued at about $653,000. Chicago Equity Partners LLC acquired a new position in Select Medical in the 3rd quarter valued at about $1,105,000. Finally, Northern Trust Corp increased its position in Select Medical by 14.6% in the 2nd quarter. Northern Trust Corp now owns 2,325,289 shares of the health services provider’s stock valued at $35,694,000 after acquiring an additional 296,087 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.
A number of equities research analysts have weighed in on SEM shares. Deutsche Bank reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Select Medical in a report on Monday, November 6th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Select Medical in a report on Wednesday, September 13th. ValuEngine raised Select Medical from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research lowered Select Medical from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Select Medical in a report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.50.
Select Medical (NYSE:SEM) last announced its quarterly earnings data on Thursday, November 2nd. The health services provider reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Select Medical had a net margin of 2.21% and a return on equity of 11.44%. Select Medical’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. equities research analysts forecast that Select Medical Holdings Co. will post 0.85 earnings per share for the current fiscal year.
In other news, insider Michael E. Tarvin sold 18,500 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $18.97, for a total transaction of $350,945.00. Following the sale, the insider now owns 340,044 shares of the company’s stock, valued at approximately $6,450,634.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martin F. Jackson sold 156,603 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $17.06, for a total value of $2,671,647.18. Following the sale, the insider now directly owns 1,790,601 shares in the company, valued at approximately $30,547,653.06. The disclosure for this sale can be found here. Insiders have sold a total of 180,103 shares of company stock worth $3,112,442 in the last three months. Corporate insiders own 19.93% of the company’s stock.
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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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