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

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

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

Select Medical Price Performance

Shares of SEM traded up $0.80 during midday trading on Monday, hitting $18.48. The company’s stock had a trading volume of 383,164 shares, compared to its average volume of 846,714. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.37. Select Medical has a one year low of $16.20 and a one year high of $40.98. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 0.64 and a beta of 1.45. The company’s fifty day simple moving average is $19.09 and its two-hundred day simple moving average is $27.91.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Select Medical during the third quarter worth approximately $30,000. Smartleaf Asset Management LLC lifted its stake in shares of Select Medical by 179.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,296 shares of the health services provider’s stock valued at $43,000 after buying an additional 1,473 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Select Medical during the third quarter valued at about $81,000. Covestor Ltd increased its position in shares of Select Medical by 33.5% during the fourth quarter. Covestor Ltd now owns 4,955 shares of the health services provider’s stock worth $93,000 after acquiring an additional 1,244 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Select Medical in the 3rd quarter worth about $193,000. 89.48% of the stock is owned by institutional investors and hedge funds.

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.