Royal Bank of Canada Cuts Select Medical (NYSE:SEM) Price Target to $23.00

Select Medical (NYSE:SEM) had its target price cut by equities research analysts at Royal Bank of Canada from $47.00 to $23.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 24.48% from the company’s previous close.

Several other research firms have also recently weighed in on SEM. StockNews.com upgraded shares of Select Medical from a “hold” rating to a “buy” rating in a report on Friday. UBS Group reduced their target price on shares of Select Medical from $40.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Benchmark raised Select Medical from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.25.

Select Medical Trading Up 4.5 %

Shares of NYSE SEM traded up $0.80 during midday trading on Monday, reaching $18.48. 383,164 shares of the stock were exchanged, compared to its average volume of 846,714. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 0.64 and a beta of 1.45. Select Medical has a 12 month low of $16.20 and a 12 month high of $40.98. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50-day simple moving average of $19.09 and a two-hundred day simple moving average of $27.91.

Select Medical (NYSE:SEM) last announced its quarterly earnings results on Thursday, February 20th. The health services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.11). Select Medical had a return on equity of 14.04% and a net margin of 3.23%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.50 billion. As a group, equities research analysts expect that Select Medical will post 1.17 EPS for the current year.

Insider Buying and Selling

In other Select Medical news, Director Marilyn B. Tavenner sold 32,000 shares of Select Medical stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $21.09, for a total transaction of $674,880.00. Following the completion of the transaction, the director now directly owns 22,000 shares of the company’s stock, valued at $463,980. The trade was a 59.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert G. Breighner, Jr. sold 4,989 shares of Select Medical stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $19.95, for a total transaction of $99,530.55. Following the sale, the vice president now directly owns 30,356 shares of the company’s stock, valued at $605,602.20. The trade was a 14.12 % decrease in their position. The disclosure for this sale can be found here. 19.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Select Medical

Several hedge funds have recently bought and sold shares of the stock. Kingsview Wealth Management LLC bought a new position in shares of Select Medical during the third quarter worth approximately $1,927,000. JPMorgan Chase & Co. grew its stake in shares of Select Medical by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 416,299 shares of the health services provider’s stock valued at $14,516,000 after acquiring an additional 36,905 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Select Medical during the 3rd quarter worth approximately $1,592,000. Argent Capital Management LLC grew its position in Select Medical by 79.8% during the fourth quarter. Argent Capital Management LLC now owns 55,144 shares of the health services provider’s stock worth $1,039,000 after buying an additional 24,471 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Select Medical by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,442,321 shares of the health services provider’s stock worth $85,180,000 after purchasing an additional 46,880 shares during the period. 89.48% of the stock is currently owned by institutional investors and hedge funds.

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.