Select Medical (NYSE:SEM) Given New $47.00 Price Target at Royal Bank of Canada

Select Medical (NYSE:SEM) had its price objective boosted by Royal Bank of Canada from $40.00 to $47.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an outperform rating on the health services provider’s stock.

Several other research firms have also weighed in on SEM. Bank of America began coverage on Select Medical in a research report on Tuesday, August 20th. They set a “buy” rating and a $42.00 price target on the stock. Benchmark reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Select Medical in a report on Friday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.75.

Select Medical Price Performance

Shares of SEM traded up $0.16 during midday trading on Monday, reaching $36.67. The stock had a trading volume of 7,231 shares, compared to its average volume of 601,180. The company’s 50-day moving average is $34.27 and its 200 day moving average is $34.14. Select Medical has a 12-month low of $21.28 and a 12-month high of $40.50. 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 company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 2.09 and a beta of 1.42.

Select Medical (NYSE:SEM) last issued its 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. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Select Medical had a return on equity of 15.99% and a net margin of 3.97%. Select Medical’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. On average, equities analysts predict that Select Medical will post 2.15 EPS for the current fiscal year.

Select Medical Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th will be paid a $0.125 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.50 dividend on an annualized basis and a yield of 1.36%. Select Medical’s dividend payout ratio (DPR) is 23.36%.

Hedge Funds Weigh In On Select Medical

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in shares of Select Medical by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,202,219 shares of the health services provider’s stock valued at $518,647,000 after acquiring an additional 90,604 shares during the period. Vanguard Group Inc. boosted its holdings in Select Medical by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 12,997,891 shares of the health services provider’s stock worth $391,886,000 after buying an additional 650,093 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Select Medical by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,498,772 shares of the health services provider’s stock worth $157,728,000 after buying an additional 95,578 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Select Medical by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 2,357,823 shares of the health services provider’s stock worth $82,208,000 after buying an additional 147,032 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Select Medical by 179.5% in 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 buying an additional 541,728 shares during the last quarter. Hedge funds and other institutional investors own 89.48% of the company’s stock.

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.