Shares of Universal Health Service have dropped over 6% so far in 2016. That’s not entirely a bad thing because the company is currently buying back a lot of its own stock. Still, Alan Miller, CEO of Universal Health Service (UHS), said there is more to the company’s investment plans than simply repurchasing shares. ‘We are investing in facilities, we just bought a company called Foundations in the drug addiction arena, so we are not just buying stock,’ said Miller. In February, Universal’s board authorized a $400 million increase to its stock repurchase program, which increased the aggregate authorization to $800 million from the previous $400 million authorization it approved during the third quarter of 2014. Miller said Universal will continue to strategically buy and build hospitals as opportunities present themselves.
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