Miller Howard Investments Inc. NY Acquires New Holdings in Select Medical Holdings Co. (NYSE:SEM)

Miller Howard Investments Inc. NY purchased a new stake in Select Medical Holdings Co. (NYSE:SEM) during the 2nd quarter, Holdings Channel reports. The fund purchased 18,800 shares of the health services provider’s stock, valued at approximately $659,000.

Other hedge funds have also modified their holdings of the company. Ceredex Value Advisors LLC purchased a new position in Select Medical during the second quarter worth $11,456,000. Argent Capital Management LLC increased its position in Select Medical by 53.7% during the 2nd quarter. Argent Capital Management LLC now owns 23,915 shares of the health services provider’s stock worth $838,000 after purchasing an additional 8,358 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Select Medical in the 2nd quarter valued at about $35,000. Louisiana State Employees Retirement System lifted its holdings in Select Medical by 2.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 53,600 shares of the health services provider’s stock valued at $1,879,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Financial Strategies Group Inc. acquired a new stake in shares of Select Medical during the 2nd quarter worth about $312,000. 89.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SEM. Benchmark reissued a “buy” rating and set a $48.00 price objective on shares of Select Medical in a research note on Friday, August 2nd. Bank of America initiated coverage on Select Medical in a research report on Tuesday, August 20th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, Royal Bank of Canada raised their price target on Select Medical from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Select Medical presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Select Medical Stock Performance

Shares of NYSE:SEM opened at $35.75 on Thursday. The business has a 50-day moving average of $35.70 and a two-hundred day moving average of $32.07. The firm has a market capitalization of $4.65 billion, a PE ratio of 17.02, a P/E/G ratio of 1.51 and a beta of 1.43. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 1.09. Select Medical Holdings Co. has a 12 month low of $21.28 and a 12 month high of $40.50.

Select Medical (NYSE:SEM) last issued its earnings results on Thursday, August 1st. The health services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Select Medical had a return on equity of 17.50% and a net margin of 3.91%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. As a group, research analysts forecast that Select Medical Holdings Co. will post 2.18 earnings per share for the current year.

Select Medical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, August 14th will be issued a dividend of $0.125 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.50 annualized dividend and a dividend yield of 1.40%. Select Medical’s payout ratio is 23.81%.

Select Medical Profile

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.