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Universal Health Services (UHS) Surges 3.7%: Is This an Indication of Further Gains?
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Universal Health Services (UHS - Free Report) shares rallied 3.7% in the last trading session to close at $146.19. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.9% gain over the past four weeks.
Shares of Universal Health primarily jumped after Tim Noel, healthcare juggernaut UnitedHealth Group’s chief executive officer for Medicare and Retirement, shared promising views for hospital stocks at the Goldman Sachs Global Healthcare Conference. He noted that seniors are now undergoing elective surgeries that were delayed due to pandemic-related constraints. The pent-up demand for such surgeries is expected to boost UHS’ patient admissions and patient days, further increasing its revenues.
This hospital and health facility operator is expected to post quarterly earnings of $2.48 per share in its upcoming report, which represents a year-over-year change of +12.7%. Revenues are expected to be $3.5 billion, up 5.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Universal Health Services, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on UHS going forward to see if this recent jump can turn into more strength down the road.
Universal Health Services is a member of the Zacks Medical - Hospital industry. One other stock in the same industry, Tenet Healthcare (THC - Free Report) , finished the last trading session 2.5% higher at $77.48. THC has returned 5.7% over the past month.
Tenet's consensus EPS estimate for the upcoming report has changed +1.4% over the past month to $1.26. Compared to the company's year-ago EPS, this represents a change of -16%. Tenet currently boasts a Zacks Rank of #3 (Hold).
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Universal Health Services (UHS) Surges 3.7%: Is This an Indication of Further Gains?
Universal Health Services (UHS - Free Report) shares rallied 3.7% in the last trading session to close at $146.19. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.9% gain over the past four weeks.
Shares of Universal Health primarily jumped after Tim Noel, healthcare juggernaut UnitedHealth Group’s chief executive officer for Medicare and Retirement, shared promising views for hospital stocks at the Goldman Sachs Global Healthcare Conference. He noted that seniors are now undergoing elective surgeries that were delayed due to pandemic-related constraints. The pent-up demand for such surgeries is expected to boost UHS’ patient admissions and patient days, further increasing its revenues.
This hospital and health facility operator is expected to post quarterly earnings of $2.48 per share in its upcoming report, which represents a year-over-year change of +12.7%. Revenues are expected to be $3.5 billion, up 5.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Universal Health Services, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on UHS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Universal Health Services is a member of the Zacks Medical - Hospital industry. One other stock in the same industry, Tenet Healthcare (THC - Free Report) , finished the last trading session 2.5% higher at $77.48. THC has returned 5.7% over the past month.
Tenet's consensus EPS estimate for the upcoming report has changed +1.4% over the past month to $1.26. Compared to the company's year-ago EPS, this represents a change of -16%. Tenet currently boasts a Zacks Rank of #3 (Hold).