Bridgeway Capital Management Inc. reduced its holdings in shares of Select Medical Holdings Co. (NYSE:SEM) by 83.1% during the third quarter, Holdings Channel reports. The fund owned 60,000 shares of the health services provider’s stock after selling 295,000 shares during the period. Bridgeway Capital Management Inc.’s holdings in Select Medical were worth $1,104,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Broadview Advisors LLC lifted its stake in Select Medical by 1.3% in the third quarter. Broadview Advisors LLC now owns 530,405 shares of the health services provider’s stock worth $9,759,000 after acquiring an additional 7,000 shares during the period. SG Americas Securities LLC lifted its stake in Select Medical by 76.3% in the second quarter. SG Americas Securities LLC now owns 29,553 shares of the health services provider’s stock worth $536,000 after acquiring an additional 12,791 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Select Medical in the second quarter worth $120,000. First Quadrant L P CA purchased a new stake in Select Medical in the third quarter worth $226,000. Finally, Sivik Global Healthcare LLC purchased a new stake in Select Medical in the third quarter worth $552,000. Institutional investors and hedge funds own 75.45% of the company’s stock.
Shares of SEM stock opened at $18.59 on Friday. Select Medical Holdings Co. has a 52 week low of $15.83 and a 52 week high of $21.65. The firm has a market capitalization of $2.51 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.43. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 3.72.
Select Medical (NYSE:SEM) last announced its quarterly earnings data on Thursday, November 1st. The health services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Select Medical had a return on equity of 15.95% and a net margin of 4.32%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 earnings per share. Sell-side analysts anticipate that Select Medical Holdings Co. will post 1.05 EPS for the current fiscal year.
A number of analysts recently commented on SEM shares. Credit Suisse Group raised their price target on Select Medical from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, November 5th. ValuEngine lowered Select Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Finally, Zacks Investment Research raised Select Medical from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.83.
In other Select Medical news, Chairman Robert A. Ortenzio sold 98,576 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $20.05, for a total transaction of $1,976,448.80. Following the completion of the transaction, the chairman now owns 7,251,571 shares of the company’s stock, valued at $145,393,998.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James S. Ely III sold 9,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $20.00, for a total value of $180,000.00. Following the transaction, the director now directly owns 101,865 shares of the company’s stock, valued at approximately $2,037,300. The disclosure for this sale can be found here. Insiders have sold 145,044 shares of company stock valued at $2,907,682 in the last three months. Insiders own 19.86% of the company’s stock.
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About Select Medical
Select Medical Holdings Corporation, through its subsidiary, Select Medical Corporation, operates acute care hospitals (LTCHs), inpatient rehabilitation facilities (IRFs), outpatient rehabilitation clinics, and occupational medicine centers in the United States. The company operates through four segments: Long Term Acute Care, Inpatient Rehabilitation, Outpatient Rehabilitation, and Concentra.
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