Universal Health Services (UHS), The Leading Detractor of First Eagle Investments

First Eagle Investments, a privately owned asset management company, released its “First Eagle U.S. Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The U.S. Value Fund A Shared returned -12.26% in the second quarter. Broad-based market conditions impacted the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

First Eagle Investments discussed stocks like Universal Health Services, Inc. (NYSE:UHS) in the second quarter investor letter. Headquartered in King of Prussia, Pennsylvania, Universal Health Services, Inc. (NYSE:UHS) owns and operates hospitals. On September 19, 2022, Universal Health Services, Inc. (NYSE:UHS) stock closed at $98.76 per share. One-month return of Universal Health Services, Inc. (NYSE:UHS) was -6.13% and its shares lost 31.69% of their value over the last 52 weeks. Universal Health Services, Inc. (NYSE:UHS) has a market capitalization of $7.207 billion.

Here is what First Eagle Investments specifically said about Universal Health Services, Inc. (NYSE:UHS) in its Q2 2022 investor letter:

“Hospital and healthcare service provider Universal Health Services, Inc. (NYSE:UHS) underperformed after the company lowered its full-year guidance because of lower patient volumes and revenues in acute care. The company is also facing rising labor costs and staff shortages. We believe these challenges are temporary and we are encouraged by management’s plan to recruit and retain staff while reducing costs and renegotiating contracts with managed-care payers.”

Photo by Martha Dominguez de Gouveia on Unsplash

Universal Health Services, Inc. (NYSE:UHS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Universal Health Services, Inc. (NYSE:UHS) at the end of the second quarter which was 40 in the previous quarter.

We discussed Universal Health Services, Inc. (NYSE:UHS) in another article and shared the list of healthcare stocks to buy according to billionaire Larry Robbins. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.