Wedge Capital Management L L P NC Has $2.26 Million Stock Holdings in Select Medical Holdings Co. (NYSE:SEM)

Wedge Capital Management L L P NC lessened its holdings in Select Medical Holdings Co. (NYSE:SEM) by 14.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,544 shares of the health services provider’s stock after selling 10,559 shares during the period. Wedge Capital Management L L P NC’s holdings in Select Medical were worth $2,263,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its position in Select Medical by 528.7% in the second quarter. Hexagon Capital Partners LLC now owns 767 shares of the health services provider’s stock worth $27,000 after purchasing an additional 645 shares in the last quarter. GAMMA Investing LLC acquired a new position in Select Medical in the fourth quarter worth about $33,000. Fidelis Capital Partners LLC acquired a new position in Select Medical in the first quarter worth about $47,000. SG Americas Securities LLC acquired a new position in Select Medical in the first quarter worth about $186,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Select Medical in the second quarter worth about $229,000. Institutional investors and hedge funds own 89.48% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $48.00 price objective on shares of Select Medical in a research note on Friday, August 2nd. Royal Bank of Canada upped their price objective on shares of 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 three have assigned a buy rating to the company. According to MarketBeat.com, Select Medical has an average rating of “Moderate Buy” and an average target price of $38.00.

Select Medical Price Performance

Shares of SEM traded up $1.22 during mid-day trading on Thursday, hitting $33.22. 733,546 shares of the company traded hands, compared to its average volume of 631,711. Select Medical Holdings Co. has a one year low of $21.28 and a one year high of $40.50. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.11. The business has a 50-day moving average of $35.57 and a 200 day moving average of $31.51. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.48 and a beta of 1.43.

Select Medical (NYSE:SEM) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). Select Medical had a net margin of 3.91% and a return on equity of 17.50%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company earned $0.61 earnings per share. Select Medical’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that Select Medical Holdings Co. will post 2.19 earnings per share for the current fiscal year.

Select Medical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th will be paid 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 1.51%. Select Medical’s dividend payout ratio (DPR) is currently 23.81%.

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.