282,192 Shares in U.S. Physical Therapy, Inc. $USPH Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 282,192 shares of U.S. Physical Therapy in the second quarter, worth approximately $19.4 million and representing a 1.89% stake.
• U.S. Physical Therapy reported quarterly revenue of $214.06 million, up 8.5% year over year, but earnings per share of $0.75 missed estimates of $0.81.
• The stock rose 1.2% to $83.61, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $98.25; the company also paid a quarterly dividend of $0.46 per share.

Bank of America Corp DE acquired a new position in U.S. Physical Therapy, Inc. (NYSE:USPH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 282,192 shares of the company's stock, valued at approximately $19,381,000. Bank of America Corp DE owned 1.89% of U.S. Physical Therapy as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. CenterBook Partners LP increased its position in U.S. Physical Therapy by 582.7% during the 4th quarter. CenterBook Partners LP now owns 41,284 shares of the company's stock valued at $3,224,000 after purchasing an additional 35,237 shares during the period. Renaissance Technologies LLC lifted its position in shares of U.S. Physical Therapy by 23.4% in the 1st quarter. Renaissance Technologies LLC now owns 76,956 shares of the company's stock worth $5,769,000 after purchasing an additional 14,582 shares during the period. BlackRock Inc. purchased a new stake in shares of U.S. Physical Therapy in the 2nd quarter worth about $155,505,000. Copeland Capital Management LLC boosted its stake in shares of U.S. Physical Therapy by 6.5% during the 1st quarter. Copeland Capital Management LLC now owns 836,831 shares of the company's stock valued at $62,729,000 after purchasing an additional 50,717 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of U.S. Physical Therapy by 22.0% during the 1st quarter. Royal Bank of Canada now owns 133,777 shares of the company's stock valued at $10,029,000 after purchasing an additional 24,081 shares in the last quarter.

U.S. Physical Therapy Stock Up 1.2%

Shares of U.S. Physical Therapy stock opened at $83.61 on Friday. U.S. Physical Therapy, Inc. has a 1 year low of $58.19 and a 1 year high of $93.50. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 491.82, a PEG ratio of 2.11 and a beta of 1.13. The company has a 50-day moving average of $78.93 and a 200 day moving average of $73.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.27 and a quick ratio of 1.27.

U.S. Physical Therapy (NYSE:USPH - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06). The business had revenue of $214.06 million for the quarter, compared to the consensus estimate of $211.36 million. U.S. Physical Therapy had a return on equity of 9.39% and a net margin of 3.97%.The company's revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. As a group, sell-side analysts anticipate that U.S. Physical Therapy, Inc. will post 2.89 earnings per share for the current fiscal year.

U.S. Physical Therapy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 21st. U.S. Physical Therapy's payout ratio is 1,082.35%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of U.S. Physical Therapy in a research report on Wednesday, August 26th. Barrington Research raised their price objective on shares of U.S. Physical Therapy from $90.00 to $98.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. JPMorgan Chase & Co. lifted their price objective on U.S. Physical Therapy from $90.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, September 11th. Citizens Jmp reiterated a "market outperform" rating and set a $98.00 target price on shares of U.S. Physical Therapy in a report on Wednesday, June 24th. Finally, Citigroup reissued a "market outperform" rating on shares of U.S. Physical Therapy in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, U.S. Physical Therapy currently has an average rating of "Moderate Buy" and a consensus target price of $98.25.

About U.S. Physical Therapy

U.S. Physical Therapy, Inc is a healthcare company that operates outpatient physical therapy clinics and manages physical therapy practices throughout the United States. Its clinics provide rehabilitation services for patients recovering from injuries, surgeries, illnesses and chronic conditions, with treatment commonly focused on restoring mobility, strength and function.

The company operates both physical therapy facilities and physical therapy management partnerships. In addition to traditional outpatient rehabilitation, its services include sports medicine, workers' compensation care and related programs designed to help employers prevent and manage workplace injuries.

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