Jennison Associates LLC Acquires Shares of 17,921 Select Medical Holdings Co. (NYSE:SEM)

Jennison Associates LLC bought a new stake in Select Medical Holdings Co. (NYSE:SEM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 17,921 shares of the health services provider’s stock, valued at approximately $625,000.

A number of other institutional investors have also modified their holdings of SEM. GAMMA Investing LLC grew its position in Select Medical by 16.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,313 shares of the health services provider’s stock valued at $81,000 after buying an additional 330 shares during the last quarter. Foster & Motley Inc. increased its stake in shares of Select Medical by 3.1% during the second quarter. Foster & Motley Inc. now owns 12,147 shares of the health services provider’s stock worth $426,000 after acquiring an additional 370 shares during the period. KBC Group NV raised its holdings in Select Medical by 4.5% during the third quarter. KBC Group NV now owns 13,050 shares of the health services provider’s stock worth $455,000 after purchasing an additional 563 shares in the last quarter. Arizona State Retirement System lifted its position in Select Medical by 2.0% in the second quarter. Arizona State Retirement System now owns 30,544 shares of the health services provider’s stock valued at $1,071,000 after purchasing an additional 593 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in Select Medical by 528.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 767 shares of the health services provider’s stock valued at $27,000 after purchasing an additional 645 shares in the last quarter. Institutional investors and hedge funds own 89.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank of Canada raised their price target on Select Medical from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, November 4th. StockNews.com lowered shares of Select Medical from a “buy” rating to a “hold” rating in a research report on Thursday. 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 for the company. Finally, Benchmark restated a “buy” rating and set a $48.00 target price on shares of Select Medical in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.75.

Select Medical Price Performance

Select Medical stock opened at $39.67 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.37. The firm’s 50-day simple moving average is $35.19 and its 200 day simple moving average is $35.02. Select Medical Holdings Co. has a 52 week low of $22.26 and a 52 week high of $40.98. The firm has a market capitalization of $5.14 billion, a PE ratio of 18.54, a P/E/G ratio of 1.75 and a beta of 1.42.

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

Select Medical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th will be given a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.50 annualized dividend and a dividend yield of 1.26%. Select Medical’s dividend payout ratio is currently 23.36%.

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.