State of Alaska Department of Revenue Trims Holdings in Select Medical Holdings Co. (NYSE:SEM)

State of Alaska Department of Revenue reduced its stake in shares of Select Medical Holdings Co. (NYSE:SEM) by 4.0% in the third quarter, Holdings Channel reports. The firm owned 60,100 shares of the health services provider’s stock after selling 2,503 shares during the period. State of Alaska Department of Revenue’s holdings in Select Medical were worth $2,095,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Select Medical by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 12,997,891 shares of the health services provider’s stock valued at $391,886,000 after buying an additional 650,093 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Select Medical by 179.5% in the second quarter. Point72 Asset Management L.P. now owns 843,528 shares of the health services provider’s stock valued at $29,574,000 after purchasing an additional 541,728 shares during the period. Millennium Management LLC grew its stake in Select Medical by 183.9% in the second quarter. Millennium Management LLC now owns 679,522 shares of the health services provider’s stock worth $23,824,000 after purchasing an additional 440,140 shares in the last quarter. Hood River Capital Management LLC purchased a new position in Select Medical during the 2nd quarter worth $14,819,000. Finally, Ceredex Value Advisors LLC bought a new stake in Select Medical during the 2nd quarter valued at $11,456,000. 89.48% of the stock is currently owned by institutional investors.

Select Medical Trading Up 12.1 %

Shares of NYSE SEM opened at $35.95 on Friday. The business has a fifty day moving average price of $34.26 and a 200 day moving average price of $33.97. Select Medical Holdings Co. has a 1-year low of $21.28 and a 1-year high of $40.50. 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 stock has a market capitalization of $4.67 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41.

Select Medical (NYSE:SEM) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Select Medical had a net margin of 3.91% and a return on equity of 17.50%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that Select Medical Holdings Co. will post 2.03 EPS for the current fiscal year.

Select Medical Dividend Announcement

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 $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.39%. The ex-dividend date is Wednesday, November 13th. Select Medical’s dividend payout ratio is currently 23.92%.

Wall Street Analysts Forecast Growth

SEM has been the topic of several research reports. Benchmark restated a “buy” rating and set a $48.00 price target on shares of Select Medical in a research note on Friday. Bank of America started coverage on shares of Select Medical in a research report on Tuesday, August 20th. They set a “buy” rating and a $42.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Select Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.