Bank of New York Mellon Corp Takes Position in U.S. Physical Therapy, Inc. $USPH

Key Points

• Bank of New York Mellon initiated a position in U.S. Physical Therapy during the second quarter, purchasing 132,312 shares valued at approximately $9.1 million, or 0.87% of the company.
• U.S. Physical Therapy reported quarterly revenue of $214.06 million, up 8.5% year over year and above estimates, but earnings per share of $0.75 missed the $0.81 consensus forecast.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $99.50 price target. The company also declared a quarterly dividend of $0.46 per share, representing a 2.4% yield.

Bank of New York Mellon Corp bought a new position in shares of U.S. Physical Therapy, Inc. (NYSE:USPH - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 132,312 shares of the company's stock, valued at approximately $9,087,000. Bank of New York Mellon Corp owned about 0.87% of U.S. Physical Therapy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of U.S. Physical Therapy by 3.4% in the 1st quarter. Royal Bank of Canada now owns 79,238 shares of the company's stock worth $5,733,000 after buying an additional 2,594 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in U.S. Physical Therapy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,897 shares of the company's stock worth $644,000 after acquiring an additional 391 shares in the last quarter. Jane Street Group LLC raised its position in U.S. Physical Therapy by 249.3% during the first quarter. Jane Street Group LLC now owns 49,309 shares of the company's stock valued at $3,568,000 after purchasing an additional 35,191 shares during the period. Hsbc Holdings PLC bought a new stake in shares of U.S. Physical Therapy in the 2nd quarter valued at approximately $410,000. Finally, First Trust Advisors LP lifted its position in U.S. Physical Therapy by 3.7% in the second quarter. First Trust Advisors LP now owns 10,725 shares of the company's stock worth $839,000 after buying an additional 385 shares during the last quarter.

Insider Activity at U.S. Physical Therapy

In related news, Director Peter Francis Minan purchased 492 shares of the company's stock in a transaction dated Monday, June 8th. The stock was acquired at an average cost of $63.14 per share, for a total transaction of $31,064.88. Following the completion of the transaction, the director directly owned 2,923 shares of the company's stock, valued at approximately $184,558.22. This trade represents a 20.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by company insiders.

U.S. Physical Therapy Stock Up 0.7%

U.S. Physical Therapy stock opened at $78.28 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market capitalization of $1.17 billion, a PE ratio of 460.50, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. The business has a 50 day simple moving average of $75.81 and a 200-day simple moving average of $73.45. U.S. Physical Therapy, Inc. has a 12 month low of $58.19 and a 12 month high of $93.50.

U.S. Physical Therapy (NYSE:USPH - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06). U.S. Physical Therapy had a return on equity of 9.39% and a net margin of 3.97%.The company had revenue of $214.06 million during the quarter, compared to analysts' expectations of $211.36 million. During the same period in the previous year, the firm posted $0.81 EPS. U.S. Physical Therapy's revenue was up 8.5% compared to the same quarter last year. On average, analysts anticipate that U.S. Physical Therapy, Inc. will post 2.95 EPS for the current fiscal year.

U.S. Physical Therapy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.4%. U.S. Physical Therapy's dividend payout ratio is presently 1,082.35%.

Wall Street Analyst Weigh In

Several analysts have issued reports on USPH shares. Citigroup reissued a "market outperform" rating on shares of U.S. Physical Therapy in a research note on Wednesday, August 19th. Zacks Research upgraded shares of U.S. Physical Therapy from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 27th. Citizens Jmp reiterated a "market outperform" rating and issued a $98.00 price target on shares of U.S. Physical Therapy in a report on Wednesday, June 24th. Barrington Research boosted 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 research note on Monday, August 10th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of U.S. Physical Therapy in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, U.S. Physical Therapy has an average rating of "Moderate Buy" and a consensus price target of $99.50.

U.S. Physical Therapy Company Profile

U.S. Physical Therapy, Inc NYSE: USPH is a leading owner and operator of outpatient physical therapy clinics across the United States. The company delivers rehabilitative care to patients recovering from orthopedic injuries, neurological disorders and chronic conditions. Its core services include one-on-one physical therapy sessions, aquatic therapy, occupational therapy, massage therapy and sports medicine programs designed to restore mobility and enhance quality of life.

In addition to traditional rehabilitation services, U.S.

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