Select Medical (NYSE:SEM) Shares Gap Up – Here’s What Happened

Select Medical Holdings Co. (NYSE:SEM)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $32.08, but opened at $34.30. Select Medical shares last traded at $36.95, with a volume of 137,307 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SEM. Benchmark reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Select Medical in a research note on Friday. Bank of America assumed coverage on Select Medical in a research report on Tuesday, August 20th. They issued a “buy” rating and a $42.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Select Medical currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Select Medical Stock Performance

The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.98 and a beta of 1.42. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50 day moving average price of $34.26 and a 200-day moving average price of $34.02.

Select Medical (NYSE:SEM) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). Select Medical had a net margin of 3.97% and a return on equity of 17.56%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the business posted $0.61 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Select Medical Holdings Co. will post 2.03 earnings per share for the current fiscal year.

Select Medical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 13th. Select Medical’s dividend payout ratio (DPR) is presently 23.36%.

Hedge Funds Weigh In On Select Medical

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Select Medical by 5.3% in the first quarter. Vanguard Group Inc. now owns 12,997,891 shares of the health services provider’s stock valued at $391,886,000 after purchasing an additional 650,093 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Select Medical by 179.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 843,528 shares of the health services provider’s stock valued at $29,574,000 after buying an additional 541,728 shares during the last quarter. Millennium Management LLC raised its stake in Select Medical by 183.9% during the 2nd quarter. Millennium Management LLC now owns 679,522 shares of the health services provider’s stock worth $23,824,000 after acquiring an additional 440,140 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Select Medical in the second quarter valued at $14,819,000. Finally, Ceredex Value Advisors LLC acquired a new position in Select Medical in the second quarter valued at $11,456,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.

About Select Medical

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.