Select Medical (SEM) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.46 per share a year ago.
Select Medical Holdings has shown strong performance, with shares up 48.7% since October 2023, outperforming the S&P 500's 37.3% increase. The company operates in a growing healthcare sector, with consistent revenue and profit growth across its Critical Illness Recovery, Rehabilitation, Outpatient Rehabilitation, and Concentra segments. Despite significant stock price appreciation, Select Medical Holdings remains attractively priced compared to similar businesses, justifying a continued 'buy' rating.
SEM's profitability is being impacted by rising costs and expenses.
SEM enters a definitive agreement to acquire Valir Rehabilitation Hospital and expand its inpatient rehabilitation footprint in Oklahoma City.
Select Medical (SEM) expects its adjusted EBITDA between $845 million and $885 million for 2024, the mid-point of which implies a 7.1% rise from the 2023 reported figure of $807.4 million.
Select Medical Holdings Corporation (NYSE:SEM ) Q2 2024 Earnings Call Transcript August 2, 2024 9:00 AM ET Company Participants Robert Ortenzio - Executive Chairman & Co-Founder Martin Jackson - Senior EVP of Strategic Finance and Operations Conference Call Participants Ben Hendrix - RBC Capital Markets A.J. Rice - UBS Operator Good morning, and thank you for joining us today for Select Medical Holdings Corporation's earnings conference call to discuss the second quarter 2024 results and the Company's business outlook.
Concentra Group Holdings Parent, Inc. shares went public in an atypical offering, with a minority stake floated by parent company Select Medical Corporation. Concentra is the largest provider of occupational health services in the US, operating 547 centers, while treating over 50,000 patients daily. It appears that its parent company, Select Medical stands to benefit the most from this offering, and might be the most interesting investment opportunity.
Select Medical (SEM) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.61 per share a year ago.
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Select Medical's (SEM) subsidiary, Concentra, starts roadshow for IPO of 22.5 million shares, aiming to list on the NYSE under ticker "CON" with an expected price range of $23-$26 per share.
Select Medical (SEM) and UPMC unveil a 20-bed satellite facility of Helen M. Simpson Rehabilitation Hospital in West Shore, thus enhancing specialized inpatient rehabilitation care in Central Pennsylvania.
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