Universal Health price target lowered to $140 from $152 at RBC Capital

RBC Capital analyst Frank Morgan lowered the firm’s price target on Universal Health to $140 from $152 and keeps a Sector Perform rating on the shares. The company reported “solid” Q3 results and the firm was pleased to see strong volume momentum in the acute segment, with meaningful declines in premium labor costs, the analyst tells investors in a research note. While RTC volumes in the behavioral segment are beginning to reflect Medicaid redetermination, the administrative coverage losses should be transitory, the firm added.