Select Medical Holdings Co. (NYSE:SEM) was the target of a significant decrease in short interest in November. As of November 29th, there was short interest totalling 2,000,000 shares, a decrease of 27.3% from the November 14th total of 2,750,000 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average trading volume of 584,600 shares, the short-interest ratio is presently 3.4 days.
In related news, CEO David S. Chernow sold 3,020 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $18.02, for a total transaction of $54,420.40. Following the completion of the sale, the chief executive officer now owns 970,260 shares of the company’s stock, valued at $17,484,085.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leopold Swergold sold 25,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $22.11, for a total transaction of $552,750.00. Following the sale, the director now directly owns 222,815 shares of the company’s stock, valued at approximately $4,926,439.65. The disclosure for this sale can be found here. Insiders sold 305,865 shares of company stock worth $6,129,702 over the last 90 days. 19.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of SEM. Arizona State Retirement System lifted its holdings in shares of Select Medical by 0.7% in the second quarter. Arizona State Retirement System now owns 168,047 shares of the health services provider’s stock worth $2,667,000 after acquiring an additional 1,119 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Select Medical by 23.4% in the second quarter. First Trust Advisors LP now owns 95,573 shares of the health services provider’s stock worth $1,517,000 after acquiring an additional 18,148 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of Select Medical by 50.7% in the second quarter. Aperio Group LLC now owns 47,449 shares of the health services provider’s stock worth $753,000 after acquiring an additional 15,969 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Select Medical by 2.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 32,370 shares of the health services provider’s stock worth $514,000 after acquiring an additional 630 shares during the last quarter. Finally, Coastal Investment Advisors Inc. bought a new position in shares of Select Medical in the second quarter worth about $39,000. 75.75% of the stock is owned by hedge funds and other institutional investors.
Select Medical (NYSE:SEM) last posted its earnings results on Thursday, October 31st. The health services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.12. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Select Medical had a net margin of 2.62% and a return on equity of 15.97%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. Equities research analysts expect that Select Medical will post 1.12 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Deutsche Bank assumed coverage on shares of Select Medical in a research report on Monday, September 16th. They set a “buy” rating and a $22.00 price objective for the company. Credit Suisse Group set a $18.00 price objective on shares of Select Medical and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, ValuEngine cut shares of Select Medical from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $18.50.
Select Medical Company Profile
Select Medical Holdings Corporation, through its subsidiary, Select Medical Corporation, operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. It operates through four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.
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