As previously reported, Benchmark downgraded Select Medical (SEM) to Hold from Buy with no price target. Following the special dividend of Concentra (CON) shares occurring today for shareholders of record as of November 18, the firm notes that the value of the dividend is about $16.70 per Select share based on Concentra’s current level. In the firm’s updated model, it now views Select Medical shares as “currently within a range of fair value,” the analyst tells investors.
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Read More on SEM:
- Select Medical downgraded to Hold from Buy at Benchmark
- Concentra to replace Myers Industries in S&P 600 at open on 11/27
- Select Medical announces distribution ratio for special stock distribution
- Select Medical Refines Financial Strategy with New Offerings
- Select Medical declares stock distribution to spin-off Concentra
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
