Cornercap Investment Counsel Inc. Sells 18,265 Shares of Select Medical Holdings Co. (NYSE:SEM)

Cornercap Investment Counsel Inc. trimmed its holdings in Select Medical Holdings Co. (NYSE:SEM) by 51.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,134 shares of the health services provider’s stock after selling 18,265 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Select Medical were worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SEM shares. Royal Bank of Canada upped their price objective on Select Medical from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com raised shares of Select Medical from a “hold” rating to a “buy” rating in a research report on Wednesday. Benchmark reiterated a “buy” rating and issued a $48.00 target price on shares of Select Medical in a research note on Friday, November 1st. Finally, Bank of America initiated coverage on shares of Select Medical in a report on Tuesday, August 20th. They issued a “buy” rating and a $42.00 price target on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.75.

Select Medical Stock Performance

Shares of SEM stock opened at $37.45 on Friday. Select Medical Holdings Co. has a 12 month low of $22.26 and a 12 month high of $40.98. The stock has a market capitalization of $4.85 billion, a P/E ratio of 17.50, a PEG ratio of 1.99 and a beta of 1.42. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37. The firm’s 50 day moving average is $34.74 and its 200 day moving average is $34.66.

Select Medical (NYSE:SEM) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.07. Select Medical had a return on equity of 15.99% and a net margin of 3.97%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Select Medical Holdings Co. will post 2.16 earnings per share for the current year.

Select Medical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.50 annualized dividend and a yield of 1.34%. Select Medical’s dividend payout ratio is currently 23.36%.

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.