State of New Jersey Common Pension Fund D Reduces Position in Select Medical Holdings Co. (NYSE:SEM)

State of New Jersey Common Pension Fund D decreased its holdings in Select Medical Holdings Co. (NYSE:SEM) by 44.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,684 shares of the health services provider’s stock after selling 43,998 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Select Medical were worth $1,952,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Select Medical in the 4th quarter valued at approximately $34,320,000. Quest Partners LLC bought a new stake in shares of Select Medical during the 4th quarter valued at $366,000. Aigen Investment Management LP purchased a new stake in Select Medical during the 4th quarter worth about $387,000. Campbell & CO Investment Adviser LLC bought a new position in Select Medical in the 4th quarter worth about $448,000. Finally, Blueshift Asset Management LLC purchased a new position in Select Medical during the 4th quarter valued at about $288,000. Institutional investors own 89.48% of the company’s stock.

Select Medical Stock Down 1.0 %

SEM stock opened at $35.00 on Friday. The company’s 50 day moving average is $35.53 and its 200 day moving average is $33.00. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.13 and a beta of 1.42. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.11. Select Medical Holdings Co. has a 1-year low of $21.28 and a 1-year high of $40.50.

Select Medical (NYSE:SEM) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Select Medical had a return on equity of 17.50% and a net margin of 3.91%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company earned $0.61 EPS. Select Medical’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that Select Medical Holdings Co. will post 2.07 EPS for the current fiscal year.

Select Medical Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 14th were issued a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.43%. Select Medical’s dividend payout ratio is 23.81%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SEM shares. Benchmark restated a “buy” rating and issued a $48.00 price objective on shares of Select Medical in a research report on Friday, September 6th. Bank of America started 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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.