Universal Health falls after profit forecast cut
UHS•Brokerages trim price targets
Following the results, at least three brokerages cut price targets on the stock, according to data compiled by LSEG.
LSEG-compiled data showed 9 of 22 brokerages rate the stock "buy" or higher, 12 rate it "hold" and 1 rates it "sell"; their median price target is $198.5.
As of last close, the stock was down about 27% year to date.
Second-quarter profit topped estimates
Universal Health said its adjusted profit came in at $5.98 per share in the second quarter, compared with analysts' average expectation of $5.96 per share.
The forecast cut comes as the expiration of enhanced Affordable Care Act subsidies leaves more patients uninsured, raising concerns about uncompensated-care costs for U.S. hospitals.
Shares fall after lower full-year outlook
Hospital operator Universal Health Services UHS.N was down 3.9% to $153.10 in premarket trading after it on Monday lowered its full-year profit forecast to between , from a prior outlook of .
