UHS - Universal Health Services drags hospital operators after guidance cut

• Leading healthcare providers in the U.S. are trading lower in the pre-market Thursday after Pennsylvania-based hospital chain Universal Health Services ( NYSE: UHS ) slashed its annual guidance citing adverse operating conditions.
• While Universal Health ( UHS ) has lost ~9% , its rivals HCA Healthcare ( HCA ), Tenet Healthcare ( THC ), Community Health Systems ( CYH ), Select Medical Holdings ( SEM ) and Surgery Partners ( SGRY ) are also in the decline.
• Universal Health ( UHS ) noted that a decline in COVID patients in 2Q was not offset by a similar increase in non-COVID patients. Both revised estimates for revenue and adjusted earnings per shares, therefore, fell short of Street forecasts.
• The latest selloff in the hospital spaces comes even after many players in the industry have witnessed sharp declines in their share prices over the past 12 months , as shown in this graph.

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