Zacks Investment Research upgraded shares of Select Medical (NYSE:SEM) from a hold rating to a buy rating in a research note released on Tuesday. The firm currently has $21.00 target price on the health services provider’s stock.
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 equities analysts have also recently commented on SEM. ValuEngine upgraded Select Medical from a hold rating to a buy rating in a research note on Sunday, December 31st. Bank of America upgraded Select Medical from an underperform rating to a neutral rating and set a $19.00 target price for the company in a research note on Thursday, January 4th. Wells Fargo & Co initiated coverage on Select Medical in a research note on Tuesday, January 30th. They set an outperform rating and a $26.00 target price for the company. TheStreet cut Select Medical from a b- rating to a c+ rating in a research note on Friday, February 2nd. Finally, Robert W. Baird reiterated a buy rating and set a $26.00 target price on shares of Select Medical in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $20.63.
Select Medical (NYSE:SEM) last released its quarterly earnings results on Wednesday, February 21st. The health services provider reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.12. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Select Medical had a return on equity of 14.27% and a net margin of 3.99%. Select Medical’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. equities analysts forecast that Select Medical will post 1.07 earnings per share for the current year.
In related news, insider Scott A. Romberger sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $18.46, for a total transaction of $92,300.00. Following the transaction, the insider now directly owns 167,811 shares in the company, valued at $3,097,791.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martin F. Jackson sold 134,029 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $17.05, for a total value of $2,285,194.45. Following the transaction, the insider now owns 1,717,944 shares in the company, valued at $29,290,945.20. The disclosure for this sale can be found here. Insiders have sold 139,352 shares of company stock worth $2,383,002 over the last 90 days. 19.86% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SEM. Crossmark Global Holdings Inc. bought a new position in Select Medical during the third quarter worth $781,000. State Board of Administration of Florida Retirement System lifted its stake in Select Medical by 191.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 78,195 shares of the health services provider’s stock worth $1,501,000 after purchasing an additional 51,335 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Select Medical during the third quarter worth $1,105,000. BNP Paribas Arbitrage SA lifted its stake in Select Medical by 38.6% during the third quarter. BNP Paribas Arbitrage SA now owns 62,161 shares of the health services provider’s stock worth $1,193,000 after purchasing an additional 17,325 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Select Medical by 59.0% during the third quarter. Municipal Employees Retirement System of Michigan now owns 40,330 shares of the health services provider’s stock worth $774,000 after purchasing an additional 14,960 shares during the last quarter. Hedge funds and other institutional investors own 79.80% 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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