Should You Hold U.S. Physical Therapy (USPH)?

Conestoga Capital Advisors, an asset management company, released its “Conestoga Micro Cap Growth Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the Micro-Cap composite declined 0.67% compared to a 2.14% return for the Russell Microcap Growth Index. The negative stock selection and underweight exposure to the top-performing Health Care sector resulted in the fund’s underperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Conestoga Capital Advisors highlighted stocks like U.S. Physical Therapy, Inc. (NYSE:USPH) in its Q3 2022 investor letter. Based in Houston, Texas, U.S. Physical Therapy, Inc. (NYSE:USPH) operates outpatient physical therapy clinics. On December 15, 2022, U.S. Physical Therapy, Inc. (NYSE:USPH) stock closed at $86.17 per share. One-month return of U.S. Physical Therapy, Inc. (NYSE:USPH) was 0.19%, and its shares lost 11.38% of their value over the last 52 weeks. U.S. Physical Therapy, Inc. (NYSE:USPH) has a market capitalization of $1.12 billion.

Conestoga Capital Advisors made the following comment about U.S. Physical Therapy, Inc. (NYSE:USPH) in its Q3 2022 investor letter:

“U.S. Physical Therapy, Inc. (NYSE:USPH) owns and operates about 600 Physical Therapy clinics in 40 states. The stock underperformed in the quarter due to a slowdown in its volume trends. USPH, like many other businesses, is facing some labor challenges as volumes have picked up after the pandemic. Also, USPH has been challenged by labor inflation and cuts in Medicare pricing as it tries to effectively manage its business.”

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U.S. Physical Therapy, Inc. (NYSE:USPH) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 11 hedge fund portfolios held U.S. Physical Therapy, Inc. (NYSE:USPH) at the end of the third quarter, which was 11 in the previous quarter.

We discussed U.S. Physical Therapy, Inc. (NYSE:USPH) in another article and shared Carillon Tower Advisers. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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