Skip to content

Tenet, Community hit by HCA earnings warning

April 17, 2017

Tenet Healthcare Corporation THC, -8.01% shares dropped 8.7% in afternoon trade Monday and Community Health Systems CYH, -5.82% shares dropped 7.5% after rival hospital operator HCA Holdings Inc. HCA, -2.36% warned of a first-quarter revenue and earnings miss. Tenet shares were valued at $15.95 and Community Health Systems shares were valued at $8.42 as of Monday afternoon. HCA Holdings stock dropped 2.7% in afternoon trade after warning Monday morning that it expected earnings to come in at $1.74 per share, below the FactSet consensus of $1.79. The company also said it expects revenue to come in at $10.6 billion, below the FactSet consensus of $10.7 billion. HCA Holdings attributed the results to changes in payer mix, meaning more patients have government insurance such as Medicare, which pays less than employer-sponsored plans. Investors appear to be concerned that those factors will have industry-wide effects. Hospital operator LifePoint Health Inc. LPNT, -0.66% shares fell just 1.3% on Monday afternoon, and Universal Health Services UHS, +0.16% shares slumped just 0.2%, compared with a 0.6% rise in the S&P 500 SPX, +0.86% Tenet shares have dropped 16.1% over the last three months, and Community Health Systems shares have risen 18.1%, compared with a 3.3% rise in the S&P 500 SPX, +0.86%

http://on.mktw.net/2oGdByk

Advertisements

From → Uncategorized

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: