U.S. Physical Therapy, Inc. (USPH)

In the past six months, U.S. Physical Therapy's stock has been influenced by quarterly results and acquisitions. The company reported increased revenue and adjusted EBITDA in Q3 2025 and increased revenue from physical therapy operations in Q2 2025. USPH announced the acquisition of a 50% interest in a physical therapy management services company on January 5, 2026, leading to a stock price increase. An analyst from Barrington Research set a new price target of $103 for the stock. The company also made acquisitions in late 2024 and earlier in 2025. The broader healthcare sector also influenced USPH's stock, with RBC Capital upgrading the S&P 500 Health Care sector to "Overweight." As of December 26, 2025, the share price was $81.00, and as of January 9, 2026, the stock price was $83.96.

Demand for physical therapy services exhibits seasonal patterns, with slower periods between Thanksgiving and New Year's and during the summer months. Surges in demand occur during sports seasons and a post-holiday rush. U.S. Physical Therapy acknowledges these seasonal factors in its financial outlook, expecting the first quarter to be the lowest for EBITDA. Understanding these seasonal variations is crucial for managing income, expenses, and staffing levels. The overall demand for physical therapists is projected to grow due to an aging population, a rise in chronic conditions and injuries, and an increased focus on wellness.

U.S. Physical Therapy, Inc. (USPH) is a publicly-traded operator of outpatient physical and occupational therapy clinics in the United States. Founded in 1990 and headquartered in Houston, Texas, the company operates through two segments: Physical Therapy Operations and Industrial Injury Prevention Services. The Physical Therapy Operations segment offers pre- and post-operative care, orthopedic-related disorder treatment, sports-related injuries treatment, preventative care, and rehabilitation for injured workers and neurological-related injuries. The Industrial Injury Prevention Services segment offers onsite injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments. USPH operates within the Healthcare sector, specifically in the Medical Care Facilities and Rehabilitation Services industry, with a mission to empower individuals to achieve optimal health and function.

U.S. Physical Therapy, Inc. operates and/or manages approximately 775 to 776 outpatient physical therapy clinics in 43 to 44 states across the United States. The company's headquarters are located in Houston, Texas, and it also manages physical therapy facilities for unaffiliated third parties, such as hospitals and physician groups.

U.S. Physical Therapy, Inc. maintains a positive brand reputation, driven by its growth strategy and consistent financial performance. The company's active acquisition strategy and positive analyst ratings contribute to a favorable perception. Strong financial results, including increased revenue and patient volumes in Q2 and Q3 2025, indicate operational success. USPH's decentralized operational model fosters accountability and innovation, likely contributing to high standards of quality and patient satisfaction.

U.S. Physical Therapy, Inc. has a mixed ownership structure, with institutional investors holding a significant portion of the company's stock, ranging from 67.60% to 92.08%. Insiders hold approximately 1.90% to 9.18%, while public companies and individual investors account for 6.01% to 24.48%. Major institutional shareholders include BlackRock, Inc., Kayne Anderson Rudnick Investment Management LLC, Morgan Stanley, Vanguard Group Inc, and State Street Corp. J. Livingston Kosberg is the largest individual shareholder, owning 372,720 shares, representing 2.45% of the company.