Wedge Capital Management L L P NC Cuts Stake in Select Medical Holdings Co. (NYSE:SEM)

Wedge Capital Management L L P NC cut its stake in Select Medical Holdings Co. (NYSE:SEM) by 14.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,544 shares of the health services provider’s stock after selling 10,559 shares during the quarter. 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.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC purchased a new position in Select Medical in the second quarter valued at about $229,000. Hexagon Capital Partners LLC increased its position in shares of Select Medical by 528.7% during the second quarter. Hexagon Capital Partners LLC now owns 767 shares of the health services provider’s stock worth $27,000 after acquiring an additional 645 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Select Medical by 174.2% during the second quarter. SG Americas Securities LLC now owns 16,933 shares of the health services provider’s stock worth $594,000 after acquiring an additional 10,757 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Select Medical by 9.2% during the second quarter. Linden Thomas Advisory Services LLC now owns 18,938 shares of the health services provider’s stock worth $664,000 after acquiring an additional 1,601 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Select Medical by 52.8% during the second quarter. GAMMA Investing LLC now owns 1,983 shares of the health services provider’s stock worth $70,000 after acquiring an additional 685 shares during the last quarter. 89.48% of the stock is owned by hedge funds and other institutional investors.

Select Medical Stock Up 3.8 %

NYSE:SEM traded up $1.22 during mid-day trading on Thursday, reaching $33.22. The stock had a trading volume of 733,546 shares, compared to its average volume of 631,711. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.48 and a beta of 1.43. Select Medical Holdings Co. has a 1-year low of $21.28 and a 1-year high of $40.50. The stock’s 50 day simple moving average is $35.57 and its two-hundred day simple moving average is $31.51. 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 (NYSE:SEM) last issued its earnings results on Thursday, August 1st. The health services provider reported $0.60 EPS 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 company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that Select Medical Holdings Co. will post 2.19 EPS for the current year.

Select Medical Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.51%. Select Medical’s payout ratio is currently 23.81%.

Wall Street Analysts Forecast Growth

SEM has been the topic of a number of analyst reports. Royal Bank of Canada lifted their target price on Select Medical from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Benchmark reiterated a “buy” rating and issued a $48.00 price target on shares of Select Medical in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Select Medical Company 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.