Point72 Asset Management L.P. raised its holdings in shares of Select Medical Holdings Co. (NYSE:SEM) by 251.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,728,700 shares of the health services provider’s stock after buying an additional 1,236,794 shares during the quarter. Point72 Asset Management L.P. owned about 1.28% of Select Medical worth $31,808,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in Select Medical during the second quarter worth about $120,000. Legacy Financial Advisors Inc. purchased a new position in Select Medical during the third quarter worth about $142,000. Public Employees Retirement Association of Colorado grew its position in 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 worth $205,000 after buying an additional 7,799 shares in the last quarter. Bank of Montreal Can grew its position in Select Medical by 237.3% during the third quarter. Bank of Montreal Can now owns 11,483 shares of the health services provider’s stock worth $212,000 after buying an additional 8,079 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Select Medical during the second quarter worth about $221,000. Institutional investors and hedge funds own 75.45% of the company’s stock.
In other news, Director James S. Ely III sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $20.00, for a total value of $180,000.00. Following the completion of the sale, the director now owns 101,865 shares of the company’s stock, valued at approximately $2,037,300. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Robert A. Ortenzio sold 37,468 shares of the business’s 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 completion of the sale, the chairman now directly owns 7,251,571 shares of the company’s stock, valued at approximately $145,393,998.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,044 shares of company stock valued at $2,907,682. Corporate insiders own 19.86% of the company’s stock.
Select Medical (NYSE:SEM) last issued its quarterly earnings results on Thursday, November 1st. The health services provider reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that Select Medical Holdings Co. will post 1.05 earnings per share for the current fiscal year.
Several brokerages have issued reports on SEM. ValuEngine lowered Select Medical from a “buy” rating to a “hold” rating in a research note on Thursday. Barclays began coverage on Select Medical in a research note on Friday. They set an “equal weight” rating and a $20.00 price target for the company. Zacks Investment Research raised Select Medical from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, Credit Suisse Group lifted their price target on Select Medical from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, November 5th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.71.
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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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