U.S. Physical Therapy (NYSE:USPH) Shares Gap Down on Disappointing Earnings

Shares of U.S. Physical Therapy, Inc. (NYSE:USPH - Get Free Report) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $87.72, but opened at $82.09. U.S. Physical Therapy shares last traded at $79.47, with a volume of 23,720 shares traded.

The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.04). U.S. Physical Therapy had a net margin of 3.54% and a return on equity of 8.11%. The business had revenue of $180.45 million for the quarter, compared to analysts' expectations of $173.10 million.

U.S. Physical Therapy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.45 per share. This is a positive change from U.S. Physical Therapy's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.27%. U.S. Physical Therapy's dividend payout ratio is presently 95.65%.

Analyst Upgrades and Downgrades

USPH has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of U.S. Physical Therapy from $117.00 to $120.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Bank of America raised U.S. Physical Therapy from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $100.00 to $115.00 in a research note on Monday, December 16th. JMP Securities assumed coverage on U.S. Physical Therapy in a report on Monday, December 16th. They set an "outperform" rating and a $113.00 price target for the company. Citizens Jmp raised U.S. Physical Therapy to a "strong-buy" rating in a research report on Monday, December 16th. Finally, William Blair reissued a "market perform" rating on shares of U.S. Physical Therapy in a research report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, U.S. Physical Therapy currently has a consensus rating of "Moderate Buy" and an average target price of $111.50.

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Insider Activity at U.S. Physical Therapy

In other U.S. Physical Therapy news, CFO Carey P. Hendrickson sold 516 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $96.25, for a total transaction of $49,665.00. Following the completion of the transaction, the chief financial officer now owns 20,469 shares in the company, valued at approximately $1,970,141.25. This represents a 2.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On U.S. Physical Therapy

A number of institutional investors and hedge funds have recently made changes to their positions in USPH. Creative Planning purchased a new stake in U.S. Physical Therapy during the third quarter worth about $252,000. International Assets Investment Management LLC lifted its position in shares of U.S. Physical Therapy by 8,414.8% during the 3rd quarter. International Assets Investment Management LLC now owns 2,299 shares of the company's stock valued at $195,000 after acquiring an additional 2,272 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of U.S. Physical Therapy by 113.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,188 shares of the company's stock worth $1,370,000 after acquiring an additional 8,604 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of U.S. Physical Therapy by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 79,817 shares of the company's stock worth $6,755,000 after acquiring an additional 766 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in U.S. Physical Therapy by 26.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 23,594 shares of the company's stock valued at $1,997,000 after purchasing an additional 4,902 shares in the last quarter.

U.S. Physical Therapy Stock Performance

The firm has a fifty day moving average of $88.20 and a 200-day moving average of $87.65. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 84.37, a PEG ratio of 3.54 and a beta of 1.48.

About U.S. Physical Therapy

U.S. Physical Therapy, Inc operates outpatient physical therapy clinics. The company operates through Physical Therapy Operations and Industrial Injury Prevention Services segments. The company provides pre-and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and neurological-related injuries.