5 Stocks in the Spotlight Following First-Quarter Results

4. Universal Health Services, Inc. (NYSE:UHS)

Number of Hedge Fund Holders: 35

Shares of Universal Health Services, Inc. (NYSE:UHS) plunged to a nearly five-month low in the pre-market trading session on Tuesday, April 26, 2022, following its disappointing profit for the first quarter.

Universal Health Services, Inc. (NYSE:UHS) reported adjusted earnings of $2.15 per share, missing the expectations of $2.46 per share with a big margin. On the bright side, revenue for the quarter rose 9.3 percent versus last year to $3.29 billion, beating analysts’ average estimate of $3.21 billion.

Like its peers, Universal Health Services, Inc. (NYSE:UHS) faced operational hurdles in the quarter due to shortage of medical professionals. The company had to recruit a temporary workforce at relatively higher wages for the smooth running of daily operations. However, higher costs weighed down on its profitability.

Universal Health Services, Inc. (NYSE:UHS) continues to expect adjusted earnings in the range of $11.90 – $12.90 per share and revenue between $13.424 – $13.694 billion for the current fiscal year.