Select Medical (NYSE:SEM) Sees Unusually-High Trading Volume – Here’s Why

Shares of Select Medical Holdings Co. (NYSE:SEM) saw strong trading volume on Monday . 2,231,788 shares were traded during trading, an increase of 249% from the previous session’s volume of 640,316 shares.The stock last traded at $20.92 and had previously closed at $21.11.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com downgraded shares of Select Medical from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Bank of America started coverage on Select Medical in a research report on Tuesday, August 20th. They set a “buy” rating and a $42.00 price target for the company. Benchmark downgraded Select Medical from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Royal Bank of Canada lifted their target price on Select Medical from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th.

Select Medical Stock Performance

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 cap of $2.72 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42. The company’s fifty day moving average is $34.11 and its 200 day moving average is $34.71.

Select Medical (NYSE:SEM) last announced its quarterly earnings data 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 firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. As a group, equities analysts predict that Select Medical Holdings Co. will post 2.16 earnings per share for the current fiscal year.

Select Medical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, November 13th. Select Medical’s payout ratio is currently 23.36%.

Insider Activity at Select Medical

In other Select Medical news, Director Marilyn B. Tavenner sold 32,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $21.09, for a total value of $674,880.00. Following the sale, the director now directly owns 22,000 shares of the company’s stock, valued at approximately $463,980. The trade was a 59.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.14% of the stock is owned by corporate insiders.

Institutional Trading of Select Medical

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Select Medical by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,498,772 shares of the health services provider’s stock valued at $157,728,000 after acquiring an additional 95,578 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Select Medical by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,442,321 shares of the health services provider’s stock worth $85,180,000 after buying an additional 46,880 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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. Point72 Asset Management L.P. lifted its holdings in shares of Select Medical by 144.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,059,791 shares of the health services provider’s stock valued at $71,825,000 after acquiring an additional 1,216,263 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Select Medical by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,646,320 shares of the health services provider’s stock worth $57,407,000 after acquiring an additional 24,439 shares in 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.