Select Medical (NYSE:SEM) Price Target Raised to $40.00 at Royal Bank of Canada

Select Medical (NYSE:SEM) had its target price boosted by Royal Bank of Canada from $36.00 to $40.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the health services provider’s stock.

Several other brokerages also recently commented on SEM. Benchmark restated a buy rating and issued a $39.00 target price on shares of Select Medical in a research note on Friday. StockNews.com raised Select Medical from a hold rating to a buy rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $34.80.

Select Medical Trading Up 0.6 %

Select Medical stock opened at $32.30 on Monday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a 50-day simple moving average of $28.50 and a 200 day simple moving average of $26.01. The stock has a market capitalization of $4.20 billion, a P/E ratio of 15.29, a PEG ratio of 1.24 and a beta of 1.38. Select Medical has a 52 week low of $21.28 and a 52 week high of $33.51.

Select Medical (NYSE:SEM) last announced its earnings results on Friday, February 23rd. The health services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. Select Medical had a net margin of 3.97% and a return on equity of 18.11%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the firm posted $0.22 EPS. Select Medical’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Select Medical will post 2.03 earnings per share for the current year.

Select Medical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, May 15th. Select Medical’s dividend payout ratio is currently 23.81%.

Insider Transactions at Select Medical

In other news, Chairman Robert A. Ortenzio sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $29.90, for a total value of $1,495,000.00. Following the transaction, the chairman now directly owns 6,689,668 shares in the company, valued at approximately $200,021,073.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Select Medical

Large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Select Medical during the 3rd quarter valued at $29,000. GAMMA Investing LLC acquired a new position in Select Medical during the 4th quarter valued at about $33,000. Fidelis Capital Partners LLC acquired a new stake in shares of Select Medical in the 1st quarter worth approximately $47,000. Covestor Ltd boosted its holdings in shares of Select Medical by 74.9% in the third quarter. Covestor Ltd now owns 4,292 shares of the health services provider’s stock valued at $108,000 after acquiring an additional 1,838 shares in the last quarter. Finally, CI Investments Inc. acquired a new position in shares of Select Medical during the third quarter valued at approximately $147,000. 89.48% of the stock is currently owned by institutional investors.

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.