M&T Bank Corp decreased its holdings in shares of Universal Health Services, Inc. (NYSE:UHS) by 14.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,602 shares of the health services provider’s stock after selling 1,110 shares during the period. M&T Bank Corp’s holdings in Universal Health Services were worth $860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of UHS. Pearl River Capital LLC purchased a new position in Universal Health Services during the second quarter valued at $35,000. Valeo Financial Advisors LLC purchased a new position in shares of Universal Health Services during the 2nd quarter valued at about $47,000. Coastal Investment Advisors Inc. bought a new position in shares of Universal Health Services during the 2nd quarter valued at approximately $56,000. Signaturefd LLC grew its stake in shares of Universal Health Services by 29.7% during the 2nd quarter. Signaturefd LLC now owns 786 shares of the health services provider’s stock valued at $102,000 after acquiring an additional 180 shares during the period. Finally, Synovus Financial Corp grew its stake in shares of Universal Health Services by 255.6% during the 1st quarter. Synovus Financial Corp now owns 800 shares of the health services provider’s stock valued at $107,000 after acquiring an additional 575 shares during the period. 87.47% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on UHS. Royal Bank of Canada raised their target price on shares of Universal Health Services to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Bank of America upped their price target on shares of Universal Health Services from $158.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays set a $145.00 price objective on shares of Universal Health Services and gave the stock a “hold” rating in a research note on Friday, July 26th. Morgan Stanley raised their price objective on shares of Universal Health Services from $135.00 to $146.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded shares of Universal Health Services from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research report on Monday, September 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. Universal Health Services currently has an average rating of “Buy” and an average target price of $149.53.
Universal Health Services (NYSE:UHS) last issued its earnings results on Thursday, July 25th. The health services provider reported $2.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.27. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.81 billion. Universal Health Services had a net margin of 7.25% and a return on equity of 16.41%. Universal Health Services’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.47 earnings per share. Research analysts expect that Universal Health Services, Inc. will post 10.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from Universal Health Services’s previous quarterly dividend of $0.10. Universal Health Services’s dividend payout ratio is 8.39%.
In other news, EVP Marvin G. Pember sold 16,693 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $149.54, for a total transaction of $2,496,271.22. Following the completion of the transaction, the executive vice president now directly owns 83,379 shares in the company, valued at approximately $12,468,495.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. Hotz sold 7,309 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $148.01, for a total value of $1,081,805.09. Following the transaction, the director now owns 67,715 shares of the company’s stock, valued at $10,022,497.15. The disclosure for this sale can be found here. 12.60% of the stock is owned by corporate insiders.
About Universal Health Services
Universal Health Services, Inc, through its subsidiaries, owns and operates acute care hospitals, outpatient facilities, and behavioral health care facilities. The company operates through Acute Care Hospital Services, Behavioral Health Care Services, and Other segments. Its hospital offer general and specialty surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care, pediatric services, pharmacy services, and/or behavioral health services.
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