Deutsche Bank analyst Pito Chickering lowered the firm’s price target on Universal Health to $145 from $168 and keeps a Buy rating on the shares. Shares have traded down approximately 13% since the company released its Q4 results and FY23 guidance at the end of February, the analyst tells investors. The company reported Q4 EBTIDA of $472M, or 3% above consensus, with reported revenues coming at 1.5% ahead of expectations. UHS called out $26M of insurance recoveries of the quarter, which wasn’t included in guidance, leading the firm to believe Q4 results were actually $446M, or a 2.7% miss versus expectations.
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Published first on TheFly
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