In a recent transaction disclosed to the Securities and Exchange Commission, Robert G. Breighner Jr., Vice President of Compliance at Select Medical Holdings Corp (NYSE:SEM), a $2.56 billion healthcare company that has delivered an impressive 64% return over the past year, sold 4,989 shares of the company's common stock. The shares were sold at a price of $19.95 each, totaling approximately $99,530. Following this transaction, Breighner holds 30,356 shares in the company. According to InvestingPro analysis, the stock is currently trading below its Fair Value, with technical indicators suggesting oversold conditions. For deeper insights into SEM's valuation and 6 additional ProTips, explore InvestingPro's comprehensive research report.
In other recent news, Select Medical (TASE:PMCN) Holdings has reported robust financial growth in the third quarter of 2024, with a 6% increase in both consolidated revenue and adjusted EBITDA compared to the same quarter last year. The company has successfully completed the initial public offering (IPO) of Concentra, issuing over 23 million shares while retaining a majority stake. BofA Securities has updated their outlook on Select Medical, maintaining a Buy rating and increasing the price target to $24 from the previous $22.61. This adjustment follows the completion of the distribution of Concentra stock by Select Medical.
Select Medical's inpatient rehab division saw a 14% rise in revenue and a 12% increase in adjusted EBITDA, despite startup losses from new facilities. The critical illness recovery division also experienced growth, with a 3% increase in revenue and a 9% rise in adjusted EBITDA. The company has a new 48-bed rehab hospital under development in Jacksonville, Florida, and additional facilities planned in other states.
The company revised its 2024 revenue outlook to a range of $6.95 billion to $7.15 billion, with adjusted EBITDA projected between $865 million and $885 million. These recent developments indicate Select Medical's continued growth trajectory with multiple development projects underway and improved operational efficiency expected in the coming year.
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