5 New Stock Picks of Billionaire David Harding

3. Select Medical Holdings Corporation (NYSE:SEM)

Number of Hedge Fund Holders: 19

Select Medical Holdings Corporation (NYSE:SEM) is a Pennsylvania-based company that operates critical illness recovery and rehabilitation hospitals in the United States. David Harding acquired 166,528 Select Medical Holdings Corporation (NYSE:SEM) shares in the first fiscal quarter of 2022, worth $3.99 million. 

On May 5, Select Medical Holdings Corporation (NYSE:SEM) reported earnings for Q1 2022. The company posted earnings per share of $0.37, beating market estimates by $0.09. The $1.60 billion revenue outperformed estimates by $37.95 million. The company also declared a $0.125 per share quarterly dividend, payable on June 1 to shareholders of record on May 19. 

Credit Suisse analyst A.J. Rice on March 16 lowered the price target on Select Medical Holdings Corporation (NYSE:SEM) to $28 from $37 due to the uncertainty behind the company’s labor outlook. The analyst reiterated a Neutral rating on the shares.

According to Insider Monkey’s Q1 data, 19 hedge funds were bullish on Select Medical Holdings Corporation (NYSE:SEM), compared to 22 funds in the preceding quarter. Stephen Dubois’ Camber Capital Management is the largest shareholder of the company, with 1 million shares worth about $24 million. 

Here is what Miller Howard Investments has to say about Select Medical Holdings Corporation (NYSE:SEM) in its Q3 2021 investor letter:

“AFTER A METEORIC RISE OVER THE PAST YEAR, small-cap stocks reversed course with the Russell 2000 Index down -4.4% for the quarter. Much of the downdraft was focused on stocks that had done well in the pandemic environment but lost favor with investors who see a recovery on the horizon. Our largest detractors have all benefited from pandemic-driven demand. Lastly, Select Medical (SEM) has also seen strong investment, but its rehabilitation facilities have had a surge of patients from hospitals looking to free beds–a trend that will likely slow as the pandemic ends.”