Marilyn Tavenner, a director at Select Medical Holdings Corp (NYSE:SEM), has sold 32,000 shares of the company, according to a recent SEC filing. The healthcare services provider, currently valued at $2.7 billion, has demonstrated strong performance with a 74% return over the past year and maintains a GREAT financial health score according to InvestingPro analysis. The shares were sold at a weighted average price of $21.09, with transactions occurring within a price range of $20.64 to $21.35. This sale brings Tavenner's total shares owned down to 22,000. The transaction, dated November 26, 2024, highlights Tavenner's continued involvement in managing her investment in the healthcare services company, which currently trades at an attractive P/E ratio of 9.85. For deeper insights into SEM's valuation and 8 additional key investment tips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Select Medical Holdings Corporation announced impressive financial growth in the third quarter of 2024, marked by a 6% increase in both consolidated revenue and adjusted EBITDA compared to the same period last year. The company also successfully launched the initial public offering (IPO) of Concentra, issuing over 23 million shares while retaining a majority stake. Select Medical (TASE:PMCN) has plans to distribute its remaining interest in Concentra to shareholders by the end of the year, subject to market conditions.
In addition to these significant developments, Select Medical reported a 14% revenue increase in the inpatient rehab division and a 12% rise in adjusted EBITDA. The critical illness recovery division saw a 3% revenue increase and a 9% rise in adjusted EBITDA. The company is also developing a new 48-bed rehab hospital in Jacksonville, Florida, with additional facilities planned in other states.
Earnings per share (EPS) increased to $0.43, up from $0.38 in Q3 2023, and a cash dividend of $0.125 was declared. The company also successfully reduced its consolidated debt by $498 million. Looking forward, Select Medical 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.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.