Shares of Select Medical Holdings Corp. (SEM) surged over 15% on Thursday after the company reported quarterly results that met Wall Street's expectations.

For the third quarter ended September 30, Select Medical reported adjusted earnings per share of 43 cents, in line with the consensus estimate from analysts. Revenue grew 5.7% year-over-year to $1.76 billion, slightly exceeding expectations of $1.74 billion.

The healthcare services company posted net income of $55.63 million for the quarter. While earnings per share declined from 46 cents a year ago, the results removed some uncertainty around Select Medical's performance and analysts remain broadly positive on the stock.